Processing Bank definition

Processing Bank means, initially, Mellon Bank, N.A. and its successors in interest, and thereafter a depository institution named by the Servicer and approved by the Insurer (so long as no Insurer Default has occurred and is continuing) which provides a lockbox as part of its normal and customary services at which the Lockbox Account is established and maintained as of such date; provided, however, that upon the occurrence of a Servicer Termination Event, the Controlling Party may, in its sole discretion, cause the Lockbox Account to be established at another bank.
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Processing Bank means, with respect to any Receivable, a bank that has been engaged by the Servicer to collect Credit Card Payments from the related Processor and to remit such funds to the applicable Receivables Obligor’s Transfer Accounts.
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Processing Bank means any bank at which any Collection Account, Disbursement Account or Exchange Account is maintained as listed in Exhibit B (as may be amended from time to time by mutual agreement by the applicable Exchanger and QI).
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Examples of Processing Bank in a sentence

  • For purposes of the unsecured debt adjustment as set forth in § 327.9(d)(6) and the depository institution debt adjustment as set forth in § 327.9(d)(7), long-term unsecured debt shall be unsecured debt with at least one year remaining until maturity.* * * * *(r) Parent holding company—A parent holding company is a bank holding company under the Bank Holding Company Act of 1956 or a savings andloan holding company under the Home Owners’ Loan Act.(s) Processing bank or trust company.

  • The Provider also has no responsibility for any violation or attack of the system of the Technical processor and / or Processing bank.

  • Processing bank should take into account its own restrictions on the future maturity date (e.g. maximum maturity).If the message does not contain the due date of payment, the bank should automatically create unsigned payment with the current due date.If the due date is in the past, the bank should make a payment with the current date as a due date.

  • Processing bank is responsible for collecting all relevant information from card holder in order to process transaction and validate the credit card payment.

  • Between a third and a half of the population of the province is estimated to be living in urban areas (Ali, 2003, Mustafa and Sawas, 2013).

  • Liability/WC/Auto$743.55$480.5860.00%Accounting Fees$2,100.00$1,260.0060.00%Credit Card Processing, bank charges$206.11$93.5045.00%Contract Services (tax prep.etc.)$965.25$572.6245.00%Volunteer Appreciation$19.00$11.4060.00%Office Equip.

  • Conducting civil and administrative proceedings ;iii Administrative services:(1) Updating the (salary) administration;(2) Processing bank transactions, invoices and the cash book; and(3) Drafting and submitting declarations; iv Tax advice Services(1) All consultancy work, in the broadest sense of the word, with regard to the tax consequences of actions;(2) Requesting decisions from the tax authorities in order to end legal uncertainty; and(3) Establishing tax facilities.

  • Processing bank transmits the sales receipt data to U.S. Bank which applies the charge to the cardholder’s account Acceptable purchasing card uses Your MILLARD SCHOOL DISTRICT purchasing card is for business use only.

  • This will be dependent on the individual parishes transactions of course.• Processing bank transactions and reconciling bank accounts• Monthly GST returns (MCNZ parishes)• Fixed Assets • Management Reports• Budgets• Year End Procedures There are How to… guides regarding various Xero processes which have been written by the Administration Division specifically for use by Methodist entities.

  • Typical application where batch-processing can be used:  Payroll processing Processing bank cheques Printing of bank statements Updating of a stock database Real-Time Processing Sometime we need to process data immediately - we cannot wait and process it later (e.g. using batch processing) For example, if we want to book a seat on a flight, the booking must be processed immediately.


More Definitions of Processing Bank

Processing Bank means the terms set out by any processing bank time to time trading as Stripe, as set out within the Agreement.
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Processing Bank has the meaning set forth in the preliminary statements hereto.
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Related to Processing Bank

  • Processing Date means the day on which the first step of physical Processing is scheduled to occur, as identified in an Acknowledgement.

  • processing aid means any substance not consumed as a food ingredient by itself, intentionally used in the processing of raw materials, foods or their ingredients, to fulfil a certain technological purpose during treatment or processing and which may result in the unintentional but technically unavoidable presence of residues of the substance or its derivatives in the final product, provided that these residues do not present any health risk and do not have any technological effect on the finished product;

  • Bank is defined in the preamble hereof.

  • Collecting bank means a bank handling the item for collection except the payor bank.

  • Processing facility means an establishment that prepares, treats, or converts tangible personal property into finished goods or another form of tangible personal property. The term includes a business engaged in processing agricultural, aquacultural, or maricultural products and specifically includes meat, poultry, and any other variety of food processing operations. It does not include an establishment in which retail sales of tangible personal property are made to retail customers.

  • Processing Services means those services described herein or commonly performed under the management and direction of Bank by a Card Processor or Credit Processor which are necessary to manage a Program and process transactions in accordance with Applicable Law. Such services shall include but shall not be limited to: set-up and maintenance of a Program and Cards, transaction authorization, processing, clearing and Settlement, System access, Card Services, Credit Services, Cardholder dispute resolution, collections, System compliance, regulatory compliance, security and fraud control, and activity reporting.

  • Collection Bank means, at any time, any of the banks holding one or more Collection Accounts.

  • Processing means any operation or set of operations which is performed on personal data or on sets of personal data, whether or not by automated means, such as collection, recording, organisation, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction;

  • Merchant means a company, firm or other organisation accepting either all Cards as a means of payment for goods and/or services or at least one type of Card for business to business transactions.

  • Credit card means any card, plate, coupon book, or other credit device ex- isting for the purpose of obtaining money, property, labor, or services on credit.

  • Eye bank means a person that is licensed, accredited, or regulated under federal or state law to engage in the recovery, screening, testing, processing, storage, or distribution of human eyes or portions of human eyes.

  • banking institution means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state of the United States, or under the provisions of any law of the United States of America.

  • Financial Services Provider means any Lender and any other provider of financial services or products;

  • Funding Bank shall have the meaning given to such term in Section 3.3 hereof.

  • Lockbox Bank means a depository institution named by the Servicer and acceptable to the Controlling Party.

  • secondary processing means concentration or other beneficiation of iron ore other than by crushing or screening and includes thermal electrostatic magnetic and gravity processing and agglomeration, pelletization or comparable changes in the physical character of iron ore;

  • Originating Lender has the meaning specified therefor in Section 13.1(e) of the Agreement.

  • SBI / Bank means State Bank of India (client) a body Corporate created under SBI Act 1955, having one of its Circle Office at State Bank of India, III/1 Pandit Jawaharlal Nehru Marg, Bhubaneswar- 01 and includes the client’s representatives, successors and assigns.

  • Processing Agreement means the agreement (as amended from time to time) ratified by the Iron Ore Processing (BHP Minerals)

  • Fortis means Fortis Inc.;

  • Banking Services Provider means any Lender or Affiliate of a Lender that provides Banking Services to any Credit Party.

  • account information service means an online service to provide consolidated information on one or more payment accounts held by the payment service user with either another payment service provider or with more than one payment service provider;

  • HSBC means HSBC Auto Finance, Inc., HSBC Auto Credit Inc., HSBC Auto Accounts Inc. and certain affiliates of such entities.

  • Servicing Bank means the Agent or the Security Trustee;

  • Processing Center means a legal entity or its department that supports the informational and technological interaction between payment participants.

  • Data Processing Lease means any lease or licensing agreement, binding on the Failed Bank as of Bank Closing, the subject of which is data processing equipment or computer hardware or software used in connection with data processing activities. A lease or licensing agreement for computer software used in connection with data processing activities shall constitute a Data Processing Lease regardless of whether such lease or licensing agreement also covers data processing equipment.