Direct Debt definition

Direct Debt the aggregate principal and/or face (or stated) amount, as applicable, of all outstanding Standby L/Cs, Acceptances, Loans, Steamship Guaranties and Airway Releases.
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Direct Debt means with respect to the subject Person, without duplication, all indebtedness, obligations and liabilities of such Person whether matured or unmatured, liquidated or unliquidated, direct or indirect, or joint or several which in accordance with GAAP are required to be classified upon a balance sheet of such Person as liabilities of such Person, and in any event shall include all (a) indebtedness, obligations or liabilities of such Person for borrowed money, including all Obligations of such Person, (b) indebtedness, obligations or liabilities of such Person evidenced by loan agreements, credit agreements, notes, bonds, debentures or similar instruments or which have been incurred in connection with the purchase or other acquisition of property, both real and personal, or assets, (c) indebtedness, obligations or liabilities secured by any lien on or payable out of the proceeds of or production from, any property or assets owned by such Person, whether or not such Person has assumed or become liable for the payment of such obligations, (d) all indebtedness, obligations or liabilities incurred by such Person as the lessee of property (real and personal), goods or services under leases that, in accordance with GAAP, are or should be reflected on the lessee's balance sheet as a capital lease, (e) reimbursement obligations of such Person with respect to letters of credit issued for the account of such Person, (f) indebtedness, obligations or liabilities under any interest rate and currency swaps, caps, floors, collars, hedge agreements, forward contracts or similar arrangements or agreements, (g) all Senior Debt that qualifies as the kind of indebtedness, obligations or liabilities referred to in clauses (a) through (f) above, and (h) all renewals, modifications, amendments to, extensions, replacements or refinancings. of indebtedness, obligations or liabilities referred to in clauses (a) through (h) above. Notwithstanding the foregoing, Direct Debt shall not include any Guaranteed Debt. Whether a particular obligation is Direct Debt or Guaranteed Debt shall be determined in accordance with GAAP with the Bank's interpretation controlling, absent manifest error.
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Examples of Direct Debt in a sentence

  • The sum of Direct Debt Service and Indirect Debt Service are hereinafter referred to as “Total Debt Service”.

  • Each partial reduction of either the Commitment or the Direct Debt Sublimit shall be applied pro rata to reduce each Lender's Share of the Commitment and the Direct Debt Sublimit.

  • If you have a Monese GBP Account or Monese EUR Account and a mistake is made with a Direct Debit, you’re entitled to a refund from the payee (the person receiving the Direct Debit) or us under the UK's Direct Debit Guarantee Scheme or the SEPA Direct Debt Consumer Protection.

  • For existing students already enrolled in the academic year 2019/2020 a monthly payment option is available only through Direct Debt and an additional administrative fee of 30 euros will apply monthly for each invoice.

  • ACE is indebted to Pacific for (i) approximately $23,000,000 (the "ACE Direct Debt") secured by certain retail installment contracts, as such ACE Direct Debt is described on Exhibit A attached hereto (the "Exhibit A Contracts"), and (ii) a variety of recourse contractual, and other obligations and liabilities described in part, on Exhibit H attached hereto (collectively, the "ACE Additional Debt").

  • You may incur costs for unpaid UK Direct Debits if you do not have enough Available Balance to pay any incoming request for Direct Debt.

  • Client further agrees that Payplant may initiate Direct Debt Transfers out of Client’s designated deposit account with Client’s bank to pay such amounts after the Repurchase Date to satisfy Client’s Repurchase Obligations, or alternatively, Payplant may set off such amounts owed by Client against amounts then or thereafter due to Client, with notification to Client.

  • Prior to the first delivery of Equipment or LPG to the Customer, the Customer must provide to the Supplier a Direct Debit Authority for payment of the Equipment Service Charge and for the Supplier’s LPG and must ensure a valid Direct Debt Authority remains in place during the term of this Agreement.

  • You will be responsible for verifying the terms and conditions provided by the beneficiary organization of the Direct Debt payments.

  • Subject to the terms and conditions set forth in this Agreement (including, without limitation, Sections 2.1(b) and (c)), each Lender, severally and not jointly, will make Revolving Advances to Borrower in aggregate amounts outstanding at any time not to exceed such Lender’s Commitment Percentage of the Maximum Direct Debt Sublimit.