Establishment of Accounts and Card Issuance Clause Samples

The 'Establishment of Accounts and Card Issuance' clause defines the process by which accounts are created and payment cards are issued to customers under an agreement. It typically outlines the requirements for opening an account, such as providing necessary identification and meeting eligibility criteria, and describes the procedures for issuing cards, including activation and delivery methods. This clause ensures that both parties understand the steps and conditions involved in account setup and card distribution, thereby promoting clarity and reducing the risk of disputes regarding account access or card issuance.
Establishment of Accounts and Card Issuance. (a) We will establish and operate the Account(s) in your name and, if applicable, issue Cards on your Account(s) bearing your name and those of any Designated Employees and/or Card Members. (b) We reserve the right to: (i) require each prospective Card Member to complete our application for the Card or Account, including providing any identification or other information required to comply with local laws; (ii) carry out credit checks and request financial information and other information periodically from banks, credit reference agencies and other sources in relation to you and/or any Card Members. These agencies may retain records of such checks, including information regarding the conduct of your Account and payment history, which may be used (subject to applicable law) by us and other firms and organisations in making credit decisions about you or the Card Member, including for preventing fraud or tracing debtors; and (iii) decline to issue, renew or replace a Card or Account to any person; cancel or suspend the use of a Card or Account at any time either generally or in relation to a particular transaction. (c) Further, in the case of a Combined Liability Corporate Card Account, we may insist upon a minimum income for Card Members in accordance with our usual risk management criteria. (d) We shall renew and replace Cards, subject to 2(b) above, until you or the Card Member directs otherwise. (e) You are solely responsible for selecting and notifying us of the names of persons to whom you request we issue Cards and establish Card Member Accounts. We may deem any applicant referred to us by a Designated Employee as approved by you to hold and use a Card. (f) We will provide to you upon request, any Card Member application forms or Card Member Agreement then in effect. We reserve the right at our sole discretion to change Card Member application forms and Card Member Agreements at any time and to establish additional or different requirements for internet-based Card Member applications, and we will notify you accordingly. (g) You must ensure that current Card Member application forms and procedures prescribed by us are used and that current Card Member Agreements are provided to and retained by each applicant upon completion of the Card Member application form and in any event in good time before the Card is provided to the Card Member.
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Establishment of Accounts and Card Issuance a. You are the user of the vPayment Account and are liable for all use or misuse of such vPayment Accounts by Programme Administrators, employees or other persons with actual or ostensible authority to make or initiate a vPayment transaction for purchases on your behalf, including any breach of the terms of the Agreement. b. You must use the vPayment System and the vPayment Connectivity Programme in accordance with this Agreement. c. You may, following written request, use the Pre-Authorisation System. Additional information and conditions regarding the Pre-Authorisation System are included in the Pre-Authorisation System user guide which will be provided to You before use of the system.
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Establishment of Accounts and Card Issuance a. You must provide us with details of all proposed Cardmembers. We may consider any individual notified to us by a Programme Administrator as approved by You to hold and use a Corporate Card. b. You must ensure that a Cardmember Application Form is completed and any application procedures notified by us are followed by each proposed Cardmember. You must provide each Cardmember with a copy of the current Cardmember Terms and any related material provided by us when completing the Cardmember Application Form and ask them to retain these for their records. c. Corporate Cards issued on your Account may be equipped to enable contactless payments. Contactless payments enable Cardmembers to incur Charges simply by holding the Corporate Card against a card reader without having the Corporate Card swiped or imprinted. We may deactivate contactless payments at any time. d. We may permit Cardmembers to use mobile or other digital wallet technology (provided by a third party or by any of our Affiliates) to request Charges. Use of the digital wallet technology may be subject to further terms of use, but this Agreement still applies to any Charges Cardmembers request using such technology.
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Establishment of Accounts and Card Issuance a. You are the user of the Business Travel Account and are liable for all use or misuse of such Business Travel Accounts by Authorised Approvers, Travel Users, Programme Administrators, employees or other persons with actual or ostensible authority to make or initiate a Business Travel Account transaction for purchases on your behalf, including any breach of the terms of the Agreement. b. Each Authorised Approver must be authorised by You and be able to carry out all terms of this Agreement applicable to the Business Travel Account and to approve Charges on your behalf. You are responsible for selecting Authorised Approvers and notifying Travel Booking Providers of any changes or updates to Authorised Approver Schedules. We reserve the right at our sole discretion to refuse any request for set-up and use of a Business Travel Account by a prospective Authorised Approver and to terminate any Authorised Approver’s authority without notice to You. c. You must tell us immediately if You suspect that a Business Travel Account is being used by someone who is not an Authorised Approver or otherwise without your authorisation. d. You must immediately inform the Travel Booking Provider of any revocation of authority granted to an Authorised Approver for use of the Business Travel Account/, and work together with the Travel Booking Provider to ensure that former Authorised Approvers no longer have the ability to make Charges and that any user accounts set up by the Travel Booking Provider for such persons are deleted. e. We have the right to inform the Travel Booking Provider about the cancellation of the Business Travel Account.
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Establishment of Accounts and Card Issuance. (a) We will establish and operate the Account(s) in your name and, if applicable, issue Cards on your Account(s) bearing your name and those of any Designated Employees and/or Card Members. (b) We reserve the right to: (i) require each prospective Card Member to complete our application for the Card or Account, including providing any identification or other information required to comply with local laws; (ii) carry out credit checks and request financial information and other information periodically from banks, credit reference agencies and other sources in relation to you and/or any Card Members. These agencies may retain records of such checks, including information regarding the conduct of your Account and payment history, which may be used (subject to applicable law) by us and other firms and organisations in making credit decisions about you or the Card Member, including for preventing fraud (iii) decline to issue, renew or replace a Card or Account to any person; cancel or suspend the use of a Card or Account at any time either generally or in relation to a particular transaction.
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Establishment of Accounts and Card Issuance. (a) We will establish and operate the Account(s) in your name and, if applicable, issue Cards on your Account(s) bearing your name and those of any Designated Employees and/or Card Members. (b) We reserve the right to: (i) require each prospective Card Member to complete our application for the Card or Account, including providing any identification or other information required to comply with local laws; (ii) carry out credit checks and request financial information and other information periodically from banks, credit reference agencies and other sources in relation to you and/or any Card Members. These agencies may retain records of such checks, including information regarding the conduct of your Account and payment history, which may be used (subject to applicable law) by us and other firms and organisations in making credit decisions about you or the Card Member, including for preventing fraud or tracing debtors; and (iii) decline to issue, renew or replace a Card or Account to any person; cancel or suspend the use of a Card or Account at any time either generally or in ‘Account Limit’: a limit applicable to the Company Account or the aggregate of all or a subset of Card Member Accounts, being the maximum amount that can be outstanding at any time. (c) relation to a particular transaction. Further, in the case of Individual or Limited liability Corporate Card Accounts, we may insist upon a minimum income for Card Members in accordance with ‘Business Travel Account’ or ‘BTA’: an account that enables the Company to centralise Charges booked through its designated TMC and be billed monthly for those Charges by American Express.
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Establishment of Accounts and Card Issuance a. You must provide us with details of all proposed Cardmembers. We may consider any individual notified to us by a Programme Administrator as approved by You to hold and use a Corporate Card.
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Establishment of Accounts and Card Issuance. (a) We will establish and operate the Account(s) in your name and, if applicable, issue Cards on your Account(s) bearing your name and those of any Designated Employees and/ or Card Members. (b) We reserve the right to: (i) require each prospective Card Member to complete our application for the Card or Account, including providing any identification or other information required to comply with local laws; (ii) carry out credit checks and request financial information and other information periodically from banks, credit reference agencies and other sources in relation to you and/or any Card Members. These agencies may retain records of such checks, including information regarding the conduct of your Account and payment history, which may be used (subject to applicable law) by us and other firms and organisations in making credit decisions about you or the Card Member, including for preventing fraud or tracing debtors; and (iii) decline to issue, renew or replace a Card or Account to any person; cancel or suspend the use of a Card or Account at any time either generally or in relation ‘American Express vPayment Account’: means an Account that enables the Company to make payments to Merchants via specific use Virtual Account Numbers. ‘American Express vPayment App’: The American Express vPayment mobile application which allows authorised employees and non-employees of Company (c) to a particular transaction. Further, in the case of an Individual or Limited Liability Corporate Card Account, we may insist upon a minimum income for Card Members in accordance with our usual risk management criteria. to receive and use Virtual Account Numbers from Company. ‘Business Travel Account’ or ‘BTA’: a Virtual Account Number enabled or non-Virtual Account Number enabled account that allows the Company to centralise Charges booked through its designated TMC and be billed monthly for those Charges by American Express.
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Related to Establishment of Accounts and Card Issuance

  • Establishment of Accounts (a) The Servicer, for the benefit of the Noteholders and the Certificateholders, shall cause the Indenture Trustee to establish and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the “Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the Certificateholders. (b) The Issuer, for the benefit of the Noteholders, shall cause the Indenture Trustee to establish with and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the “Note Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders. The Issuer shall also cause to be established two administrative subaccounts within the Note Distribution Account at the Eligible Institution then maintaining the Note Distribution Account, which subaccounts shall be designated the “Interest Distribution Account” and the “Principal Distribution Account”, respectively. The Interest Distribution Account and the Principal Distribution Account are established and maintained solely for administrative purposes. (c) The Issuer, for the benefit of the Noteholders, shall cause the Indenture Trustee to establish with and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the “Reserve Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders. (d) Funds on deposit in the Collection Account and the Reserve Account shall be invested by the Indenture Trustee in Eligible Investments selected in writing by the Servicer; provided, however, that if (i) the Servicer shall have failed to give investment directions for any funds on deposit in the Reserve Account or the Collection Account to the Indenture Trustee by 11:00 a.m., New York City time (or such other time as may be agreed by the Administrator and the Indenture Trustee), on any Business Day or (ii) a Default or Event of Default of which a Responsible Officer of the Indenture Trustee shall have actual knowledge shall have occurred and be continuing with respect to the Notes but the Notes shall not have been declared due and payable pursuant to Section 5.02 of the Indenture or (iii) if the Notes shall have been declared due and payable following an Event of Default and amounts collected or receivable from the Trust Estate are being applied in accordance with Section 5.05 of the Indenture as if there had not been such a declaration, then the Indenture Trustee shall, to the fullest extent practicable, invest and reinvest funds in investments that are Eligible Investments in accordance with the standing instructions most recently given in writing by the Servicer. Funds on deposit in the Note Distribution Account shall remain uninvested. All such Eligible Investments shall be held by the Indenture Trustee for the benefit of the Noteholders or the Certificateholders, as applicable; provided, for each Collection Period such amount shall be calculated on the Determination Date. On each Payment Date all interest and other investment income (net of Net Investment Losses) on funds on deposit in the (i) Collection Account for the related Collection Period will be released to the Depositor; and (ii) Reserve Account for the related Collection Period will be released to the Depositor, upon the direction of the Servicer, to the extent that funds on deposit in the Reserve Account on such Payment Date, after giving effect to all withdrawals therefrom on such Payment Date, exceed the Reserve Account Required Amount. Other than as permitted in writing by the Rating Agencies with respect to the Reserve Account, funds on deposit in the Collection Account and the Reserve Account shall be invested in Eligible Investments that will mature not later than the Business Day immediately preceding the next Payment Date. Funds deposited in the Collection Account and the Reserve Account on a day that immediately precedes a Payment Date upon the maturity of any Eligible Investments are not required to be invested overnight. (e) In the event that there are Net Investment Losses in Eligible Investments chosen by the Servicer, the Servicer shall deposit into the Collection Account, no later than one Business Day prior to the Payment Date, the amount of the Net Investment Losses. The Indenture Trustee shall not be held liable in any way for any Net Investment Losses, except for losses attributable to the Indenture Trustee’s failure to make payments on such Eligible Investments issued by the Indenture Trustee, in its commercial capacity as principal obligor and not as Indenture Trustee, in accordance with their terms. (i) The Trust shall possess all right, title and interest in all funds and investment property on deposit from time to time in or credited to the Trust Accounts and in all proceeds thereof (including all income thereon) and all such funds, investment property, proceeds and income shall be part of the Trust Estate, except as otherwise set forth herein. The Trust Accounts shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Noteholders and the Certificateholders, as applicable. If, at any time, any Trust Account ceases to be an Eligible Deposit Account, the Indenture Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new Trust Account as an Eligible Deposit Account and shall transfer any cash or any investments from the account that is no longer an Eligible Deposit Account to the new Trust Account. (ii) With respect to the Trust Account Property, the Indenture Trustee agrees, by its acceptance hereof, that: (A) any Trust Account Property that is held in deposit accounts shall be held solely in the Eligible Deposit Accounts, subject to the last sentence of Section 5.01(f)(i); and each such Eligible Deposit Account shall be subject to the exclusive custody and control of the Indenture Trustee, and the Indenture Trustee shall have sole signature authority with respect thereto; (B) any Trust Account Property that constitutes Physical Property shall be delivered to the Indenture Trustee in accordance with paragraph (a) of the definition herein of “Delivery” and shall be held, pending maturity or disposition, solely by the Indenture Trustee or a securities intermediary (as such term is defined in Section 8-102(a)(14) of the UCC) acting solely for the Indenture Trustee; (C) any Trust Account Property that is a book-entry security held through the Federal Reserve System pursuant to federal book-entry regulations shall be delivered in accordance with paragraph (b) of the definition herein of “Delivery” and shall be maintained by the Indenture Trustee, pending maturity or disposition, through continued book-entry registration of such Trust Account Property as described in such paragraph; (D) any Trust Account Property that is an “uncertificated security” under Article 8 of the UCC and that is not governed by clause (C) above shall be delivered to the Indenture Trustee in accordance with paragraph (c) of the definition herein of “Delivery” and shall be maintained by the Indenture Trustee, pending maturity or disposition, through continued registration of the Indenture Trustee’s (or its nominee’s) ownership of such security; and (E) any Trust Account Property that is a security entitlement shall be delivered in accordance with paragraph (d) of the definition herein of “Delivery” and shall be held pending maturity or disposition by the Indenture Trustee or a securities intermediary acting solely for the Indenture Trustee. (iii) The Servicer shall have the power, revocable by the Indenture Trustee or by the Owner Trustee with the consent of the Indenture Trustee, to instruct the Indenture Trustee to make withdrawals and payments from the Trust Accounts and the Certificate Distribution Account for the purpose of withdrawing any amounts deposited in error into such accounts.

  • Establishment of Account (a) The Fund hereby appoints the Custodian as the custodian of all Securities and cash at any time delivered to the Custodian to be held under this Agreement. The Custodian hereby accepts such appointment and agrees to establish and maintain one or more accounts for each Series in which the Custodian will hold Securities and cash as provided herein. Such accounts (each, an “Account,” and collectively, the “Accounts”) shall be in the name of the Fund and Series, if any. (b) The Custodian may from time to time establish on its books and records such sub-accounts within each Account as the Fund and the Custodian may agree upon (each a “Special Account”), and the Custodian shall reflect therein such assets as the Fund may specify in Instructions. (c) The Custodian may from time to time establish pursuant to a written agreement with and for the benefit of a broker, dealer, future commission merchant or other third party identified in Instructions such accounts on such terms and conditions as the Fund and the Custodian shall agree, and the Custodian shall transfer to such account such Securities and money as the Fund may specify in Instructions.

  • Deposit Accounts; Credit Card Arrangements (a) Annexed hereto as Schedule 5.21(a) is a list of all DDAs maintained by the Loan Parties as of the Closing Date, which Schedule includes, with respect to each DDA (i) the name and address of the depository; (ii) the account number(s) maintained with such depository; (iii) a contact person at such depository, and (iv) the identification of each Blocked Account Bank. (b) Annexed hereto as Schedule 5.21(b) is a list describing all arrangements as of the Closing Date to which any Loan Party is a party with respect to the processing and/or payment to such Loan Party of the proceeds of any credit card charges and debit card charges for sales made by such Loan Party.

  • Establishment of Collateral Accounts Securities Intermediary acknowledges and agrees that: (i) it has established and is maintaining on its books and records the accounts identified on the attached Schedule 1 (each such account, together with any replacements thereof or substitutions therefor, the “Collateral Account” and such accounts, collectively, the “Collateral Accounts”) in the name of the Borrower; (ii) each Collateral Account is a “securities account” (within the meaning of Section 8-501(a) of the UCC) in respect of which Securities Intermediary is a “securities intermediary” (within the meaning of Section 8-102(a)(14) of the UCC and, with respect to any Book-Entry Security, within the meaning of Federal Book-Entry Regulations) and the Security Agent is the “entitlement holder” (within the meaning of Section 8-102(a)(7) of the UCC); provided, however, that if, notwithstanding the intention of the parties hereto, all or any portion of the Collateral Account is determined to be a “deposit account” (within the meaning of Section 9-102 of the UCC) rather than a “securities account,” then the Securities Intermediary represents, warrants, covenants and agrees that it is a “bank” (as defined in Section 9-102(a)(8) of the UCC) and will treat the Borrower as its customer (within the meaning of Section 9-104(a)(3) of the UCC) with respect to the Collateral Accounts (or portion thereof); (iii) all property delivered, or to be delivered, to Securities Intermediary pursuant to this Agreement is, and will be, promptly credited to the Collateral Accounts; (iv) it does not know of any claim to or interest in any Collateral Account or any assets or funds therein, except for claims and interests of the parties to this Agreement as set forth herein; and (v) it shall not change the name or account number of any Collateral Account without the prior written consent of the Security Agent. Except as provided in Section 2(b), Securities Intermediary agrees that it shall not take “entitlement orders” (as defined in Section 8-102(a)(8) of the UCC) or “instructions” (within the meaning of Section 9-104(a)(2) of the UCC) with respect to the Collateral Accounts or any assets or funds therein from any Person other than the Security Agent.

  • Establishment of Collateral Account The Securities Intermediary hereby confirms that: (a) the Securities Intermediary has established the Collateral Account; (b) the Collateral Account is a securities account; (c) subject to the terms of this Agreement, the Securities Intermediary shall identify in its records the Collateral Agent as the entitlement holder entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (d) all property delivered to the Securities Intermediary pursuant to this Agreement, including any Applicable Ownership Interests in the Treasury Portfolio or Treasury Securities and the Permitted Investments, will be credited promptly to the Collateral Account; and (e) all securities or other property underlying any financial assets credited to the Collateral Account shall be (i) registered in the name of the Purchase Contract Agent and indorsed to the Securities Intermediary or in blank, (ii) registered in the name of the Securities Intermediary or (iii) credited to another securities account maintained in the name of the Securities Intermediary. In no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent (in its capacity as such) or any Holder or specially indorsed to the Purchase Contract Agent (in its capacity as such) or any Holder, unless such financial asset has been further indorsed to the Securities Intermediary or in blank.