Disputed Debt definition

Disputed Debt means a Debt (a) payable by a Customer who the Seller knows or ought to know is disputing or is likely to dispute its liability to pay the Debt in full or to pay the Debt by the Expected Payment Date, (b) is not paid within 14 days after the Expected Payment Date except when such non payment is due to the insolvent winding-up or bankruptcy of the Customer, or (c) which will be reduced to be less than its Face Value without the Purchasing Investors’ consent

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Disputed Debt means a Purchased Debt where the Debtor disputes the Debt for any reason, or sets up or attempts to set up a set-off or counterclaim;

Examples of Disputed Debt in a sentence

• For the avoidance of doubt, the reserve shall (i) include (a) the Contingent and Disputed Debt Claims, and (b) an estimate of the cash component of a potential dividend to be issued by the Company as a result of the spin-off of GGO, and (ii) exclude any amounts to be paid in Shares.

• The determination of such firm with respect to the Disputed Debt Adjustment Amounts shall be conclusive and binding, subject however, to any rights of Purchaser hereunder with respect to the accuracy or completeness of the information on the basis of which such calculation was determined.

• Upon the date of the earlier to occur of resolution of the Disputed Debt Adjustment amounts by (i) mutual written agreement between Purchaser and the Shareholder Agent, or (ii) the determination of the independent accounting firm, the amounts agreed upon or determined shall be appropriately applied to the Debt Adjustment by each party as if such amounts were applied to the Debt Adjustment as of the Debt Adjustment Date, and any amounts due any party hereto shall be paid.