Defaulter definition
Defaulter means any person who owes arrears to the Municipality;
Defaulter means a customer who owes arrears to the municipality;
Defaulter means a participant who is the subject of any default proceedings;
Examples of Defaulter in a sentence
If this Agreement is terminated pursuant to clause 13.2 the Other Shareholders shall (without prejudice to their rights and remedies) have the right (jointly but not severally) to require the Defaulter to sell all of the Defaulter’s shares and Shareholder Loans to the Shareholders not in default (together the “Beneficiaries”) at any time during the period of three (3) months from the date of the Termination Notice.
The Call Option in favour of the Beneficiaries shall be exercised by the Other Shareholders serving on the Defaulter written notice (an “Option Notice”) in respect of all the Shares and Shareholder Loans then held by the Defaulter.
More Definitions of Defaulter
Defaulter means a customer who owes money to the Municipality after the due date for payment has expired;
Defaulter means the person and in the case of a company or firm every director or partner of the company or, as the case may be of the firm and of which he is a director or a partner of proprietor, and includes the guarantor who fails to pay outstanding arrears.]
Defaulter means a person and, in the case of company or firm, every Director of the company or partner of the firm and includes guarantors or successors, who fail to pay the arrears of tax under the Act and the rules;
Defaulter means a Customer whose account is in arrears;
Defaulter means any customer in arrears.
Defaulter means the person on account of whose default a civil penalty order is served, and includes an alleged defaulter;
Defaulter means a customer who owes arrears;