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 46 As the Traded Debts were disputed by the Customers and not paid within 14 days of the Expected Payment Dates, they became “Disputed Debts”, such that the 1st and 2nd plaintiffs were entitled to require the 1st defendant to repurchase them. Although the defendants dispute their liability for the repurchase price generally, they do not contend that the calculations done at [31] by the plaintiffs in accordance with the formula in cl 10.2 are inaccurate. 47 On the basis of the express terms in the CS T&Cs that govern the contractual relationship between the parties, it is clear to me that the plaintiffs have made out a prima facie case for judgment against the 1st defendant on the contractual claim. 48 As for the 2nd defendant, she had “irrevocably and unconditionally guarantee[d]” by way of the Guarantee to pay on demand “all present and future payment obligations and liabilities” of the 1st defendant incurred under the CS T&Cs “arising out of any obligation to repurchase any present or future Traded Debt”. She had also “irrevocably and unconditionally guarantee[d] the due and punctual performance and observance by the [1st defendant] of its repurchase obligations under the CS T&Cs” to the 2nd plaintiff and each investor.66 Barring any bona fide defence, there is no question that this would cover the repurchase obligations owed by the 1st defendant in respect of the 60 Traded Debts. As such, I find that the plaintiffs have made out a prima facie case for judgment against the 2nd defendant as well. The alternative claims in fraudulent misrepresentation 49 Having found that that the plaintiffs have a prima facie case against the defendants for summary judgment, there is strictly no need for me to consider
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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;
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Examples of Disputed Debt in a sentence

  • BonaFide Disputed Debt – If the settlement negotiations concern the resolution of what thepartiesagreeisabonafide disputed debt where the debtor has some evidence of a legitimate dispute as to the amount owed, counsel should include a “contested liability” or “disputed debt” clause in the settlement agreement that addresses the following at minimum:1.

  • 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.

  • Alimony in Solido and Disputed Debt Having previously determined that Wife is entitled to an award of alimony in solido in order to more equitably adjust the distribution of the marital estate, we turn now to the amount of alimony in solido to be awarded.

  • It is therefore,ORDERED by Commissioner Jimmy Patronis, as Prehearing Officer, that this Prehearing Order shall govern the conduct of these proceedings as set forth above unless modified by the Commission.

  • The circumstances in which the Commissioner may take such action are set out in more detail in the chapter 'Recovering Disputed Debt'.

  • A Billing Entity must immediately suspend the Debt Collection process for any Disputed Debt, or whenever a written request for a Hearing has been timely submitted, with the exception of any Debt that has already been subject to a court or administrative due process and has received a Hearing opportunity.

  • 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.

  • For the purpose of calculating the indemnity of the Collection Expenses incurred by You in relation to a Disputed Debt covered under this Option, and by derogation to article 15 of the General Terms, the expenses incurred by You in connexion with the settlement of a Dispute shall be taken into account.

  • The Company is taking legal advice in relation to the Disputed Debt against the Company and the SD against the Company.

  • Both the Disputed Debt against Mr. Ng and the SD against Mr. Ng are disputed, and Mr. Ng made an application to set it aside under High Court action no.

Related to Disputed Debt

  • Disputed means, with respect to any Claim or Interest, any Claim or Interest that is not yet Allowed.

  • Disputed Item has the meaning set forth in Section 1.3(c).

  • Disputed Items has the meaning specified in Section 2.7(c).

  • Disputed Amount means an amount which Customer disputes. A Disputed Amount may relate to the whole or part of an invoice(s).

  • Disputed Claim means any Claim that is not Allowed.

  • Closing Indebtedness means, as of the Closing Date, the aggregate amount of Indebtedness of the Company, including, but not limited to, any prepayment penalties, early termination fees, bank fees and related expenses payable by the Company in connection with the repayment or assumption by the Parent of any Indebtedness of the Company.

  • Disputed Claims Reserve means a reserve of Cash that may be funded on or after the Effective Date pursuant to Article VII.E hereof.

  • Disputed Amounts has the meaning set forth in Section 2.04(c)(iii).

  • Estimated Indebtedness has the meaning set forth in Section 2.4(a).

  • Estimated Closing Indebtedness has the meaning set forth in Section 2.3(a).

  • Closing Indebtedness Amount means, as of immediately prior to the Effective Time, the aggregate amount of Indebtedness of the Company, including all accrued and unpaid interest, prepayment penalties or fees, and other unpaid fees and expenses payable in respect of such Indebtedness through the Effective Time.

  • Final Closing Indebtedness has the meaning set forth in Section 3.3(b).

  • Bad Debt means amounts lawfully billed to a Subscriber and owed by the Subscriber for Cable Service and accrued as revenues on the books of Grantee, but not collected after reasonable efforts have been made by Grantee to collect the charges.

  • Consolidated Adjusted Debt means, at any time, the sum of, without duplication, (i) Consolidated Funded Indebtedness and (ii) the product of Consolidated Rents multiplied by 6.0.

  • Closing Statement means the Closing Statement in the form on Annex A attached hereto.

  • Adjusted Debt means, as of any date, the sum of (i) all Adjusted Indebtedness of the Company and its Subsidiaries on a Consolidated basis on such date and (ii) (x) Rent Expense for the four consecutive fiscal quarter period ended immediately prior to such date or then ending in respect of which financial statements have been delivered pursuant to Section 7.1(a) or 7.1(b) multiplied by six (6).

  • Closing Date Indebtedness means the aggregate amount of all Indebtedness of the Company Group as of the time of Closing (other than any Indebtedness included in Holder Expenses).

  • Covered Debt Amount means, on any date, the sum of (x) all of the Revolving Credit Exposures of all Lenders on such date plus (y) the aggregate principal amount (including any increase in the aggregate principal amount resulting from payable-in-kind interest) of Other Covered Indebtedness outstanding on such date.

  • Unresolved Claim means a Claim, which at the relevant time, in whole or in part: (a) has not been Finally Determined to be a Proven Claim in accordance with the Amended Claims Procedure Order and this Plan; (b) is validly disputed in accordance with the Amended Claims Procedure Order; and/or (c) remains subject to review and for which a Notice of Allowance or Notice of Revision or Disallowance (each as defined in the Amended Claims Procedure Order) has not been issued to the Creditor in accordance with the Amended Claims Procedure Order as at the date of this Plan, in each of the foregoing clauses, including both as to proof and/or quantum;

  • Tax Dispute has the meaning set forth in Section 5.06.

  • Final Indebtedness has the meaning set forth in Section 3.2(b).

  • Undisputed Amounts has the meaning set forth in Section 2.04(c)(iii).

  • Reconciliation Dispute has the meaning set forth in Section 7.9 of this Agreement.

  • Final Fairness Hearing means the hearing in the Action for the Court to consider final approval of this Settlement and the entry of Judgment.

  • Consolidated Working Capital Adjustment means, for any period on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period.

  • Settlement Indebtedness means any payment or reimbursement obligation in respect of a Settlement Payment.