merchant-agreement
merchant-agreement
merchant-agreement
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70<br />
36. Bank deposit<br />
36.1. If, in your letter of offer or by some other document you agreed to give us a bank<br />
deposit or when we notify you that a bank deposit is required this clause applies<br />
to this <strong>agreement</strong>.<br />
36.2. The following words have these meanings in this clause:<br />
bank deposit means the deposit held pursuant to clause 36.3.<br />
bank deposit account means the account in which the bank deposit is held.<br />
bank deposit limit means, subject to clauses 36.3(f), (g) and (h), the amount described in<br />
your letter of offer under the heading ‘Deposit Schedule’ or otherwise notifi ed in writing<br />
to you by us.<br />
NAB cash management account means NAB’s cash management account, the terms of<br />
which are governed by the terms and conditions for NAB Products as amended from time<br />
to time or a similar product replacing the cash management account from time to time.<br />
transfer amount means the amount in dollars to be transferred whenever proceeds are<br />
credited to the settlement account, by debiting the settlement account and crediting the<br />
bank deposit account pursuant to clauses 36.3(f), (g) and (h).<br />
Bank deposit<br />
36.3. Terms of the bank deposit account:<br />
(a) Unless we otherwise agree, you must have a bank deposit of the bank deposit limit<br />
held in an account with us for the purposes of this clause recorded in dollars.<br />
(b) Unless we otherwise agree, the bank deposit account must be a NAB Cash<br />
Management Account.<br />
(c) We may at any time determine that a bank deposit is required or is no longer<br />
required.<br />
(d) Unless otherwise agreed by us, you cannot alter the status of the bank deposit<br />
account.<br />
(e) You agree that to the extent required by this clause, the terms of this clause vary<br />
and form part of the terms and conditions of your bank deposit account.<br />
Bank deposit limit<br />
(f) We may at any time increase or decrease the amount of the bank deposit limit<br />
and will notify you in writing if we do so.<br />
(g) In our sole discretion, we may determine that:<br />
(i) you must immediately cause there to be a bank deposit of any amount up to<br />
the bank deposit limit; or
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