Debtor Bank definition

Debtor Bank means a Financial Institution where the debtor’s payment’s account to be debited is held.
Sample 1Sample 2Sample 3
Debtor Bank. “Paying Bank” or “Issuing Bank” is the Bank having the relationship with the Payer and making the payment pursuant to the receipt of a Payment Instruction;
Sample 1Sample 2

Examples of Debtor Bank in a sentence

  • As part of the Cash Management System, the Debtors routinely deposit funds into the Debtor Bank Accounts (the “ Deposit Practices”).

  • Accordingly, the Debtors request that they be allowed to maintain and continue to use the Cash Management System, including maintenance of their existing Debtor Bank Accounts.

  • The Banks are authorized to honor the Debtors’ requests to open or close (as the case may be) such Debtor Bank Account(s) or New Account(s).

  • The current definition of SEPA encompasses the EU member states together with Iceland, Liechtenstein, Monaco, Norway, and Switzerland.Transactions for the collection of funds from a Debtor’s account with a Debtor Bank are initiated by a Creditor via its bank as agreed between Debtor and Creditor.

  • If a Creditor or the Creditor’s Bank requests the reversal of a SEPA Direct Debit, the Debtor Bank is obliged to fulfill this request without the Account Holder's prior agreement and with no obligation to check whether the original collection was debited to the Account Holder’s Account or was rejected, returned or refunded.

  • Debtor assumes the responsibility for being and keeping itself informed of the financial condition of Borrower and of all other circumstances bearing upon the risk of nonpayment of any indebtedness or nonperformance of any obligation of Borrower, warrants to Bank that it will keep so informed, and agrees that absent a request for particular information by Debtor, Bank shall have no duty to advise Debtor of information known to Bank regarding such condition or any such circumstances.

  • The Debtor Bank is obliged to execute all rejections, returns and even if the Account Holder’s Account is closed.

  • Under the Scheme the Debtor Bank is entitled to recover the amount of a Refund from the Creditor Bank and the Creditor Bank is entitled to recover the amount of this Refund from the Creditor.

  • Once Tomorrow arrives, though, the Debtor Bank will never buy any of its bonds in the secondary market.

  • The majority of the Debtor Bank Accounts, approximately 50 of the 81 accounts, are deposit accounts.

Related to Debtor Bank

  • Debtor means a person who is liable on a claim.

  • Reorganized Debtor means a Debtor, or any successor or assign thereto, by merger, consolidation, reorganization, or otherwise, in the form of a corporation, limited liability company, partnership, or other form, as the case may be, on and after the Effective Date.

  • Debtors has the meaning set forth in the Recitals.

  • Reorganized means, with respect to the Debtors, any Debtor or any successor thereto, by merger, consolidation or otherwise, on or after the Effective Date.

  • Debtor Laws means all applicable liquidation, conservatorship, bankruptcy, moratorium, arrangement, receivership, insolvency, reorganization, or similar laws, or general equitable principles from time to time in effect affecting the rights of creditors generally.

  • Reorganized Debtors means the Debtors on and after the Effective Date.

  • Payor bank means a bank that is the drawee of a draft.

  • New debtor means a person that becomes bound as debtor under section 9203(4) by a security agreement previously entered into by another person.

  • Prepetition means arising or accruing prior to the Petition Date.

  • Non-Debtor Affiliate means any Affiliate of the Debtors that is not a Debtor in the Chapter 11 Cases.

  • Eye bank means a person that is licensed, accredited, or regulated under federal or state law to engage in the recovery, screening, testing, processing, storage, or distribution of human eyes or portions of human eyes.

  • Non-Debtor Subsidiaries means all direct and indirect subsidiaries of any Debtor that are not Debtors in the Chapter 11 Cases.

  • Prepetition Collateral shall refer to (i) all of the Borrower’s personal property upon which a security interest may be granted under the Uniform Commercial Code, (ii) all of the Borrower’s real property, (iii) all of the Borrower’s assets in or upon which a lien or other security interest has otherwise been granted in favor or for the benefit of the Prepetition Agent and the Prepetition Lenders in connection with, pursuant to, or under, the Prepetition Credit Agreement and the other Prepetition Financing Documents, and (iv) any of the Borrower’s assets otherwise held by the Prepetition Agent or any Prepetition Lender or otherwise provided to the Prepetition Agent or any Prepetition Lender as security for the Prepetition Indebtedness, in each case that existed as of the Petition Date or at any time prepetition and, subject to section 552 of the Bankruptcy Code, postpetition proceeds, products, offspring, rents and profits of all of the foregoing.

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • Unsecured Creditors means, collectively, the Preferred Creditors and the Ordinary Creditors; and

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • DIP Motion means the motion filed by the Debtors seeking entry of the DIP Orders.

  • Subsidiary Debtors means, collectively, Congoleum Sales, Inc. and Congoleum Fiscal, Inc.

  • SBI / Bank means State Bank of India (client) a body Corporate created under SBI Act 1955, having one of its Circle Office at State Bank of India, III/1 Pandit Jawaharlal Nehru Marg, Bhubaneswar- 01 and includes the client’s representatives, successors and assigns.

  • Chapter 11 means Chapter 11 of the Bankruptcy Code.

  • Debtor in Possession means any Debtor, in its capacity as a debtor in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code.

  • PNC Bank means PNC Bank, National Association.

  • Debtor Release means the release given on behalf of the Debtors and their Estates to the Released Parties as set forth in Article VIII.D of the Plan.

  • Obligated bank means the issuer of a cashier's check or teller's check or the acceptor of a certified check.

  • Delaware Bank has the meaning specified in the preamble to this Trust Agreement.

  • Prepetition Agent means Goldman Sachs Bank USA in its capacity as administrative agent and collateral agent under the Prepetition Credit Agreement.