Debtee definition

Debtee. Signed: By: Date:
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Debtee means one who is owed a debt; a creditor.“Debt” means an amount of money borrowed by one party from another.Debt Amount: The Debtor agrees he/she/it owes the Debtee [INSERT AMOUNT] [Currency, e.g. United States Dollars (USD)].The Parties hereby agree to the scheduled Payment Plan, found in Exhibit A attached hereto (the "Payment Plan"). The Debtor shall conform to the schedule set and shall pay to the Debtee before or upon due the amount as indicated on the Payments Plan table.Payment Method: Payment shall preferably be made to the Debtee in accordance to the mode as indicated in the Payment Plan, but in any case, the Debtor may choose his method of payment to his convenience.Release and Indemnification : In consideration for this Agreement, the Debtee hereby releases any other claims against the Debtor in relation to fees and penalties resulting from the deficiency or any damages prior to this Agreement. However, no obligation shall release the Debtor from its obligations herein or limit the rights of the Debtee in relation to this Agreement.Acceleration Clause: In the occurrence that the Debtor fails to render payment upon reaching fifteen (15) days after the scheduled Payment Plan, the full amount of the deficiency shall become due and demandable. Any further failure shall give rise to the right to the Debtee to demand for damages.Agreement Modifications: No modification of this Agreement shall be considered valid unless made in writing and agreed upon by both Parties.Assignment of Rights :
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Examples of Debtee in a sentence

  • Any principal creditor right incurred prior to Date of Determination (inclusive) and its interests (compound interest, overdue or misappropriating default interest) accrued till the guarantor’s assumption of guarantee obligations, expenses for realization of herein-stated creditor right by the Debtee and other related expenses as stipulated under 2.2 of this Contract shall be covered by the guarantee under this Contract.

  • In the event when the Guarantor has conducts of evading the Debtee’s overseeing, failure to pay up the debt under security, and avoid or invalidate debt liabilities in malice, the Debtee has the right to circulate a notice of such conducts to related entities and publish it on news media.

  • In the event the Debtor fails to repay in time and in full the whole or part of the loan, the principal of the financing fund or the Debtee’s advance payment or related interests, the Guarantor shall unconditionally pay without delay to the Debtee each and all due payments payable by the Debtor.

  • As authorized by the Guarantor, when the Debtor or the Guarantor has any mature and payable debt, the Debtee has the right to deduct certain fund, for settlement purposes, in an account established for the benefit of the Guarantor in Bank of Communications.

  • Upon any incurrence of the principal creditor right under the master contract (including contingent claims), the Debtee and the Debtor may agree, in the Credit Line Application under the master contract, with regard to the principal currency, amount, interest rate, deadline of performance, etc.

  • By entering into this Payment Plan, the Debtee agrees to release the Debtor from any previous claims, actions, and/or liabilities due to the Debt.

  • If the Debtor defaults on its payments and fails to cure said default within a reasonable amount of time, the Debtee will have the option to declare the entire remaining amount of Principal and any accrued interest, if applicable, immediately due and payable.

  • The occurrence of the principal creditor right means that the Debtee issues a loan or a financing fund, or draws a bank acceptance bill, a credit letter or a letter of guarantee.

  • If Debtor defaults on its payments and fails to cure said default within a reasonable amount of time, Debtee will have the option to declare the entire remaining amount of Principal and any accrued Interest immediately due and payable.

  • By entering into this Payment Plan, the Debtee agrees to release the Debtor from any previous claims, actions and/or liabilities due to The Debt.