Common use of Discharged Clause in Contracts

Discharged. Under a chapter 7 with reaffirmation, continue normal collection of the account. · Under a chapter 7 without reaffirmation: · Secured: lien remains in place and debtor is to continue payments as long as they intend to keep property · Unsecured: Collection efforts must cease as debt has been discharged.

Appears in 2 contracts

Sources: Credit Agreement (CLST Holdings, Inc.), Credit Agreement (CLST Holdings, Inc.)

Discharged. Under a chapter 7 with reaffirmation, continue normal collection of the account. · Under a chapter 7 without reaffirmation: · Secured: lien remains in place and debtor is to continue payments as long as they intend to keep property · Unsecured: Collection efforts must cease as debt has been discharged.. CHARGEOFF:

Appears in 1 contract

Sources: Credit Agreement (CLST Holdings, Inc.)