Payout Account definition

Payout Account is defined in Section 2.4.
Sample 1Sample 2Sample 3
Payout Account. The amount of all payments by Ramshorn for Investment Invoices plus an additional 17.5% shall be credited to Ramshorn in an account for all Subject Xxxxx maintained by El Paso (the "Payout Account"), which will be used to determine when all of the Net Overriding Royalty Interest purchased by Ramshorn shall be suspended pursuant to Section 2.7 or converted pursuant to Section 2.7(c). For example, if an AFE for drilling a Subject Well is for $1,000,000 and El Paso's working interest is 100%, then El Paso shall invoice Ramshorn for $200,000 and, upon payment of the invoice, $235,000 shall be credited to the Payout Account. If an AFE for drilling a Subject Well is for $1,000,000 and El Paso's working interest is 50%, then El Paso shall invoice Ramshorn for $100,000 and, upon payment of the invoice, $117,500 shall be credited to the Payout Account.
Sample 1Sample 2
Payout Account means a bookkeeping account for each Preferred Unit Holder equal to 110% of the Capital Contribution of such holder less an amount equal to the cash or fair market value of property distributed to such holder by the Company with respect to the Preferred Units, in each case pursuant to this Agreement.
Sample 1Sample 2

Examples of Payout Account in a sentence

  • However, you should be aware that your ability to recover funds you have lost due to an error may be very limited or even impossible, particularly if we did not cause the error, or if funds are no longer available in any Payout Account.

  • All monies, which the Assignee is entitled to receive under or in accordance with this Agreement, shall be paid by cheque, draft, or pay order drawn on a scheduled bank or by way of electronic funds transfer or mail transfer for crediting the Collection and Payout Account.

  • For the purpose of this Agreement, any payment shall be deemed to have been received by the Assignee the day on which the Collection and Payout Account is credited.

  • We may reduce the amount settled to your Payout Account by the amount of Fees, Fines, and amounts owed to us for any reason.

  • We call this account a "Payout Account" in these Terms (but you may be allowed to use it for other things too).

  • Once we process a payout to your Payout Account, this will satisfy your Customers obligations to make payments to you.

  • The Reserve will be released to your Payout Account after a specified length of time, subject to any other obligations you may have.

  • We may also reduce any amount settled to your Payout Account by the amount of any fees, fines, or other amounts you owe to us for any reason.

  • You may not, other than as required by the Financial Services Terms or Payment Terms (each as defined below), grant or assign any interest in payment processing proceeds to any third party until such time as the payment processing proceeds are deposited into your Payout Account (as defined below).

  • If you have questions about the status of your Payout Account, please reach out directly to the Payment Service you use.


More Definitions of Payout Account

Payout Account means a designated depository account in the United States opened by or on behalf of you and owned by you.
Sample 1
Payout Account internal records if funds available for Payout Order.
Sample 1
Payout Account means any group of up to consecutive Well Projects in which General Council has elected, at casing point, to participate in on any Lease within the Mineral Lands.
Sample 1

Related to Payout Account

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Share Account means the brokerage account established by the Agent for each Participant to which shares of Common Stock purchased under the Plan are credited in accordance with Section 9. The Share Account will be established pursuant to a separate agreement between each Participant and the Agent.

  • Direct Account : means any Account which is not an ISA Account.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.