« debit instruction » means a payment instruction addressed to the SCB and submitted by an AS to debit a settlement bank 's PM account or sub-account by the amount specified therein , on the basis of a debit mandate , and to credit either one of the AS 's accounts in the PM or another settlement bank 's PM account or sub-account , « direct debit authorisation » means a general instruction by a payer to its CB entitling and obliging that CB to debit the payer 's account upon a direct debit instruction from a payee , « direct debit instruction » means an instruction from a payee submitted to its CB pursuant to which the CB of the payer debits the payer 's account by the amount specified in the instruction , on the basis of a direct debit authorization , « debit mandate » means an authorisation by a settlement bank in the form provided by the Eurosystem CBs in the static data forms addressed to both its AS and its SCB , entitling the AS to submit debit instructions , and instructing the SCB to debit the settlement bank 's PM account or sub-account as a result of debit instructions , « entry disposition » means a payment processing phase during which TARGET2-ECB attempts to settle a payment order which has been accepted pursuant to Article 12 , by means of specific procedures , as described in Article 18 , « Eurosystem CB » means the ECB or the NCB of a Member State that has adopted the euro , « event of default » means any impending or existing event , the occurrence of which may threaten the performance by a participant of its obligations under these Conditions or any other rules applying to the relationship between that participant and the ECB or any other CB , including : ( a ) where the participant no longer meets the access criteria laid down in Article 4 or the requirements laid down in Article 6 ( 1 )( i ) ;
« debit instruction » means a payment instruction addressed to the SCB and submitted by an AS to debit a settlement bank 's PM account or sub-account by the amount specified therein , on the basis of a debit mandate , and to credit either one of the AS 's accounts in the PM or another settlement bank 's PM account or sub-account , « direct debit authorisation » means a general instruction by a payer to its CB entitling and obliging that CB to debit the payer 's account upon a direct debit instruction from a payee , « direct debit instruction » means an instruction from a payee submitted to its CB pursuant to which the CB of the payer debits the payer 's account by the amount specified in the instruction , on the basis of a direct debit authorization , « debit mandate » means an authorisation by a settlement bank in the form provided by the Eurosystem CBs in the static data forms addressed to both its AS and its SCB , entitling the AS to submit debit instructions , and instructing the SCB to debit the settlement bank 's PM account or sub-account as a result of debit instructions , « entry disposition » means a payment processing phase during which TARGET2-ECB attempts to settle a payment order which has been accepted pursuant to Article 12 , by means of specific procedures , as described in Article 18 , « Eurosystem CB » means the ECB or the NCB of a Member State that has adopted the euro , « event of default » means any impending or existing event , the occurrence of which may threaten the performance by a participant of its obligations under these Conditions or any other rules applying to the relationship between that participant and the ECB or any other CB , including : ( a ) where the participant no longer meets the access criteria laid down in Article 4 or the requirements laid down in Article 6 ( 1 )( i ) ;