Secured Account definition
Secured Account means a Credit Card Account that is subject to an agreement between the related Obligor and the Seller pursuant to which such Obligor has provided security to the Seller in respect of the payment of the Receivables under such Credit Card Account, other than a Credit Card Account that is subject to an agreement between the related Obligor who is an individual or individuals and the Seller pursuant to which such Obligor has provided security to the Seller solely in respect of the payment of the Receivables under such Credit Card Account.
Secured Account means an Account owned by the Account Owner under which the payment obligations of the Obligor are secured by the Funds Collateral.
Secured Account means the Secured Unallocated Account and the Secured Allocated Account held in the name of the Issuer with the Secured Account Custodian in respect of this Series of ETC Securities.
Examples of Secured Account in a sentence
Notwithstanding anything in this Addendum, Bank shall have no obligation under this Addendum to extend credit to any Customer in amounts that exceed such Customer’s Secured Account balance and the credit available in the Line of Credit Account (if applicable).
Client or Processor shall not authorize any Card transaction for any Customer which would result in Customer’s Credit Card Account balance (including, but not limited to, Bank’s aggregate outstanding extensions of credit to Customer under the Program, accrued finance charges, accrued penalty fees and/or any other accrued Credit Card Account fees) to exceed the deposit amount in such Customer’s Secured Account and, as applicable, the available credit in the Line of Credit Account.
Customer may deposit funds into the Secured Account to serve as collateral for extensions of credit by Bank to Customer under the Account.
More Definitions of Secured Account
Secured Account means a Customer-owned, limited purpose, non-interest bearing deposit account issued by Bank, the deposits of which shall serve as collateral for any extension of credit provided to such Customer under a Credit Card Account, and whereby Customer grants Bank a security interest in such deposits.
Secured Account means, in respect of a series of Collateralised Securities, each of the Pledged Securities Account and the Pledged Cash Account relating to such series.
Secured Account means an Account that is secured by a deposit account or other secured method as established by Seller.
Secured Account is a deposit account held at First Electronic Bank, Member FDIC and its successors and assigns (collectively, “FEB,” “we,” “us,” or “our”), and is used to secure obligations on the secured charge card account (“Card Account”) associated with your Imprint Account. The terms “you,” “your,” and “yours” mean you and any other person who is contractually liable under the agreement governing the Card Account (“Cardholder Agreement”). The Imprint Account is serviced by Imprint Payments, Inc. (“Imprint”) on behalf of FEB, and any FEB rights, responsibilities or obligations under this Secured Account Agreement may be performed or otherwise delegated to Imprint on FEB’s behalf. This Secured Account Agreement supplements the Cardholder Agreement. Other terms of the Cardholder Agreement apply to this Secured Account Agreement, including the Arbitration Provision of the Cardholder Agreement which shall govern all disputes arising from this Secured Account Agreement. The terms of this Secured Account Agreement shall survive and continue to apply to the Secured Account following closure of the Card Account or the Secured Account, and shall be binding on you even if you cancel your Card Account or do not accept the Cardholder Agreement. You agree that this Secured Account Agreement, including the security interest provisions, forms a binding contract and makes up the entire agreement between you and FEB regarding the handling of the Secured Account and any Secured Funds. This Secured Account Agreement applies to the Secured Account maintained at FEB, as well as all substitutions and replacements thereof, that has been assigned or pledged by you as security for your Card Account. By using or permitting others to use your Card Account and Card, you are agreeing to be bound by the terms of this Secured Account Agreement.
Secured Account means the account or accounts identified in the Security Agreement as being the subject of the pledge and security thereunder.
Secured Account means any Account secured by a letter of credit in an amount not less than the aggregate of all Accounts secured thereby, issued by a bank acceptable to the Agent and delivered by the Borrower or any of its Subsidiaries to the Agent as Collateral hereunder.
Secured Account means the Lockbox Account (as that term is defined in the Security Agreement). “Secured Creditors” has the meaning given it in the Security Documents.