Relevant Funds has the meaning as described in clause 15.2 of this Agreement.
Relevant Funds means any other Fund(s) under which the PTE receives Funding.
Relevant Funds means funds received by Vitesse for the provision of Payment Services and held by Vitesse in accordance with Clause 5.5 of this Agreement and which are credited to the Client’s Payment Account as shown on the Online Interface.Where the Client has selected to receive the issuance of E-Money together with the Payment Service, the relevant funds are the funds received in exchange for the E-Money issued to the Client. Where the Client has selected to receive the Payment Service without any E-Money being issued to the Client, the relevant funds are the funds received by Vitesse (i) from, or for the benefit of the Client, for the execution of a payment transaction or (ii) from a Payment Service Provider for the execution of a payment transaction on behalf of the Client;
Examples of Relevant Funds in a sentence
They will not be Relevant Funds and so they will be placed into our business bank account and will not be afforded protection under the segregation rules of the Regulations.
Relevant Funds are held in segregated bank accounts which are independent of our business bank accounts.
Relevant Funds are not covered under the Financial Services Compensation Scheme.
We can deduct from Relevant Funds any fees and expenses properly owed to us.
We cannot use your Relevant Funds for our own business nor to lend to other customers and we cannot pay interest on Relevant Funds.
More Definitions of Relevant Funds
Relevant Funds means (a) sums received from, or for the benefit of, a payment service user for the execution of a payment transaction; and (b) sums received from a payment service provider for the execution of payment transaction on behalf of a payment service user, as defined in the Payment Services Regulations.
Relevant Funds has the meaning given to such term at Clause 22.14(a)(iii) (Excess Cash Flow / Purchase of Satellites).
Relevant Funds means any sums received from you or for your benefit and electronic money issued in exchange for these funds in your Global Account.
Relevant Funds means any sums received from you or for your benefit. Relevant Funds are held in segregated bank accounts which are independent of our business bank accounts. Relevant Funds may also be covered by an insurance policy with an authorised insurer. The purpose for so holding or insuring funds is to ensure that in the event of our insolvency, or if a financial claim is made against us, no creditor or claimant should be able to claim funds held in these accounts or covered by this insurance policy. This is because no other person or institution may have any rights or interest over the funds held in these accounts or covered by this insurance policy such as a lien over funds in these accounts. Relevant Funds are not covered under the Financial Services Compensation Scheme.
Relevant Funds means the compensation fund and the fidelity fund established and maintained under the substituted Part;
Relevant Funds means the funds received by WorldFirst from, or on account of, the Client in respect of the Forward FX Services, including a sale, purchase or holding of a Forward FX Transaction, but does not include fees or charges owed to WorldFirst or such other sums used to reduce the amount owed to WorldFirst by the Client. “Sale Currency” means the currency being bought by us and sold by you.