Payment Account definition

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.

Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.2.

Payment Account. The account maintained pursuant to Section 4.03(b).

Examples of Payment Account in a sentence

• However, we have no obligation to try debiting the Payment Account more than once.

• Not in limitation of the foregoing, you authorize us to debit any other Account or account or to set off against any amounts we may owe you to obtain payment if there are not sufficient funds in the Payment Account.

• In accordance with each Schedule of Fees and Charges that is applicable to this Wire Addendum or otherwise in connection with the Service (collectively, the “Fee Schedule”), we will charge fees for the Service and any other fees related thereto to your Payment Account each month.

• You authorize us to charge your Payment Account to obtain payment for the Services through account analysis, compensating balances, or by direct debit of the Payment Account, or by a combination of the preceding, but debiting the Payment Account is not our exclusive remedy.

• The Payment Account is designated in the section of the Enrollment Form for the appropriate designated Service.

More Definitions of Payment Account

Payment Account means the account specified on the signature pages hereof into which all payments by or on behalf of each Borrower to Agent under the Financing Documents shall be made, or such other account as Agent shall from time to time specify by notice to Borrower Representative.

Payment Account means an account held in the name of one or more payment service users which is used for the execution of payment transactions;

Payment Account shall have the meaning set forth in Section 6.3 hereof.

Payment Account means each bank account established pursuant to the Security Agreement, to which the proceeds of Accounts and other Collateral are deposited or credited, and which is maintained in the name of the Agent or the Borrower, as the Agent may determine, on terms acceptable to the Agent.

Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Securityholders in which all amounts paid in respect of the Junior Subordinated Notes will be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Section 4.01.

Payment Account. The account established by the Indenture Trustee pursuant to Section 3.01 of the Indenture. The Payment Account shall be an Eligible Account.

Payment Account means the account described as such in the name of the Issuer held with the Account Bank to which amounts shall be transferred by the Account Bank on the instructions of the Collateral Administrator on the second Business Day prior to each Payment Date out of certain of the other Accounts in accordance with Condition 3(i) (Accounts) and out of which the amounts required to be paid on each Payment Date pursuant to the Priorities of Payment shall be paid.