Contra Account means an Account due from an account debtor to which the Borrower owes money.
Contra Account an account on the balance sheet of a Person that offsets the balance of a related and corresponding account.
Contra Account means, in relation to any Obligor which (when aggregated with its Affiliated Obligors) is among the 25 largest Obligors based on the aggregate Outstanding Balance of its Receivables, the aggregate of all potential set-off amounts which would be payment obligations of any Seller to such Obligor, together with any other reserves booked by such Seller with respect to payment obligations of such Obligor.
Examples of Contra Account in a sentence
Chips on Hand, Chips Contra Account and Chips Outstanding: The Receiver shall provide Buyer with documentation of the gross amount of “Chips on Hand” per the balance sheet.
More Definitions of Contra Account
Contra Account means the Outstanding Balance of a Pool Receivable that is offset by a corresponding account payable due from the Originator to the related Obligor.
Contra Account means a credit or offset against a Receivable because of a corresponding obligation of an Originator thereof owing to the Obligor thereof, in any case, solely to the extent that such credit or offset arises in the ordinary course of business.
Contra Account means an account on the balance sheet of a Person that offsets the balance of a related and corresponding account. “Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or otherundertaking to which such Person is a party or by which it or any of its property is bound.
Contra Account means the account specified in Section 1 above.
Contra Account means a Receivable that may be offset by a current account payable from an Originator to the related Obligor.
Contra Account means the account against which the Control Account’s balances settled as per the parameters defined for that Control Account.
Contra Account means, when the Parent is at Leverage Xxxxx 0, a Receivable that may be offset by a current account payable due from an Originator to the related Obligor.