Payment Subsidiary definition

Payment Subsidiary means any Subsidiary of Intermediate Holdings which is engaged in the business of providing credit card and debit card processing services to Merchants; it being understood that Premier shall be a Payment Subsidiary on and after the date of the consummation of the Premier Payments Acquisition.
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Payment Subsidiary means any Subsidiary of any Holding Company which is engaged in the business of providing credit card and debit card processing services to Merchants. “PBGC” means the Pension Benefit Guaranty Corporation or any successor thereto. “PCI-DSS Requirements” means the Payment Card Industry Data Security Standard Requirements.
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Payment Subsidiary means any Subsidiary of the Intermediate Holding Company which is engaged in the business of providing credit card and debit card processing services to Merchants.
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Examples of Payment Subsidiary in a sentence

  • Each Payment Subsidiary shall at all times be in compliance in all material respects with all applicable Rules of the Visa and MasterCard card associations (and the Rules of any other applicable Approved Bank Card System) and the PCI Requirements, as applicable.

  • There has been no actual or alleged breach of security or unauthorized access to or acquisition, use, loss, destruction, compromise or disclosure of any personal information, confidential or proprietary data or any other such information maintained or stored by, or on behalf of, any Payment Subsidiary involving data of Merchants, other customers, cardholders or other similarly situated individuals.

  • Other than as set forth on Schedule 4.27(b)(iii) (as the same may be updated from time to time pursuant to Section 5.1), no Person has any right to acquire any material (in terms of quantity or volume) Merchant Agreements from any Payment Subsidiary.

  • Each Payment Subsidiary shall at all times be represented by at least one Sponsor Bank and shall at all times be registered with Visa as an independent sales organization and with MasterCard as a member service provider (unless such representation and registration is not required by the Rules of Visa or MasterCard, as applicable, for the conduct of such Person’s business in the ordinary course), and registered with any other Approved Bank Card System to the extent required by its Rules.

  • Each Payment Subsidiary shall remain (i) registered with each Approved Bank Card System to the extent required by any Processor Agreement or the Rules of the Approved Bank Card Systems, and (ii) PCI certified and compliant to the extent required by PCI Requirements and/or the Rules.

  • No Payment Subsidiary has obligated itself to any minimum revenue, take-or-pay or similar obligations under any Approved Processor Agreement.

  • Each Payment Subsidiary shall ensure that each agent or sub-ISO soliciting merchants on behalf of or in cooperation with any Payment Subsidiary is also appropriately approved and registered with the Approved Bank Card System to the extent applicable.

  • Further, each Payment Subsidiary has complied with all applicable laws, requirements of Governmental Authorities, the Rules and the PCI Requirements related to data security, and the protection, use, storage, handling and processing of personal information, including credit card information.

  • Such Approved Bank Card Systems registrations are current and active and no additional registration or qualification with any Approved Bank Card Systems or Sponsor Bank is required to operate the business of any Payment Subsidiary.

  • There have been no facts or circumstances that would require any Payment Subsidiary to give notice to any Merchants, suppliers, cardholders, consumers or other similarly situated individuals of any actual or perceived data security breaches pursuant to the Rules, the PCI Requirements or an applicable law requiring notice of such a breach.