Reserve Funds Account definition

Reserve Funds Account means an account held by a Sponsor Bank or other third party data processor pursuant to an Approved Processor Agreement, which account holds funds for the benefit of a Merchant pursuant to the applicable Merchant Agreement.
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Reserve Funds Account means an account held by a Sponsor Bank or other third party data processor pursuant to a Processor Agreement, which account holds funds for the benefit of a Merchant pursuant to the applicable Merchant Agreement. “Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.
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Examples of Reserve Funds Account in a sentence

  • Any amount of Sub-merchant’s Reserve Account remaining in the Reserve Funds Account when Provider determines that the Reserve Account may be closed, shall be released to Sub-merchant.

  • In either event, neither the RM Reserve Funds Account, nor any funds therein, shall be pledged or hypothecated or in any way encumbered by Manager or Westgate.

  • The Services are available to the Cardholders only upon the terms and conditions set forth in the Cardholder Agreement and Disclosure, and only to the extent that the Cardholder has available in the Reserve Funds Account an amount of funds sufficient therefor and Disbursement Detail has been provided to Xxxx by Client.

  • Sub-merchant agrees that it shall have no right, title or interest in or to the Reserve Funds Account.

  • Resolution number 21-040 formalizes the Board's intent for reporting purposes on the fiscal year ending 2020-2021 financial statements and also shows the reserve balances to begin the year 2021-2022.It was discussed that The Self-Insured Retention Reserve funds (PASIS) ($657,418) were removed from the Reserve Funds Account and there was concern as to why.

  • No portion of the Capital Reserve Funds shall be withdrawn from the Capital Reserve Funds Account except to pay for Approved Capital Expenses incurred by Borrower in accordance with the terms and conditions of the Approved Capital Budget and this Agreement, except otherwise expressly provided herein.

  • The Services are available to the Cardholders only upon the terms and conditions set forth in the Cardholder Agreement and Disclosure, and only to the extent that the Cardholder has available in the Reserve Funds Account an amount of funds sufficient therefor and Disbursement Detail has been provided to Lynk by Client.

  • The RM Reserve Funds shall be main­tained in sep­arate segregated accounts (the “RM Reserve Funds Account”) in accordance with Section 9.3. Neither the Association Reserve Funds Account, nor the RM Reserve Funds Account, nor any funds therein, shall be pledged or hypothecated or in any way encum­bered.

Related to Reserve Funds Account

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Initial Renovation Reserve Fund, the Interest Reserve Fund, the General Reserve Fund, any funds on deposit in the Construction Loan Reserve Account, any Shortfall Funds and any other escrow fund established pursuant to the Loan Documents.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE3, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE3." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Note Account As defined in the Indenture.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.