Creditor’s Claim definition

Creditor’s Claim means all of Debtor’s obligations to Creditor for borrowed money, now existing or hereafter arising, direct or indirect, absolute or contingent, joint or several, whether as maker, endorser, surety, guarantor or otherwise. “Bank’s Claim” means all of Debtor’s obligations to Bank, now existing or hereafter arising, direct or indirect, absolute or contingent, joint or several, whether as maker, endorser, surety, guarantor or otherwise.
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Examples of Creditor’s Claim in a sentence

  • Creditor shall not receive, or take any action to collect or enforce, payment from Debtor, and Debtor shall not make payment to Creditor, of Creditor’s Claim or any part thereof; provided, however, as interest accrues on Creditor’s Claim, such interest may be paid by Debtor to Creditor as long as no default then exists in Bank’s Claim or would result from such payment.

  • It is enforceable by Bank and its successors and any assignees of Bank’s Claim, but shall not benefit or be enforceable by any other party or subordinate Creditor’s Claim to any claim other than Bank’s Claim.

  • Creditor agrees that Debtor may incur the obligations evidenced by the Bank’s Claim and acknowledges that the Bank’s Claim does not violate any restriction on Debtor’s debt contained in any document evidencing Creditor’s Claim.

  • Creditor may assign, negotiate, pledge or otherwise transfer Creditor’s Claim or any part thereof subject to the following conditions: (i) Creditor shall provide Bank with prior, written notice of any such transfer, including in each notice the name and address of each transferee, (ii) no more than four transferees may hold any part of Creditor’s Claim at any time and (iii) each transferee shall acknowledge in writing that such transferee holds its interest in Creditor’s Claim subject to this Agreement.

  • Without the prior written consent of Bank, Creditor shall not receive, or take any action to collect or enforce, payment of Creditor’s Claim from any person.