Operational Creditors definition

Operational Creditors means the creditors that have extended operational debt in respect of goods or services to the Petitioner Company, the details and proportion of which, as at July 31, 2018, are laid down in ScheduleE hereto;
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Operational Creditors means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred;”
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Operational Creditors liquidation value” means the amount that would be due to operational creditors, in the event that the corporate debtor were to be liquidated on the insolvency commencement date and its assets were distributed in accordance with section 53 of the Code;
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Examples of Operational Creditors in a sentence

  • Certain Operational Creditors (as defined hereinafter) have filed in respect of the Petitioner Company to commence corporate insolvency resolution process under the Insolvency & Bankruptcy Code, 2016 of the Petitioner Company in the National Company Law Tribunal, Ahmedabad Bench.

Related to Operational Creditors

  • operational creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred;

  • financial creditor means any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred to;

  • Additional Credit Party means each Person that becomes a Guarantor by execution of a Joinder Agreement in accordance with Section 5.10.

  • Additional Credit Facilities means any credit facilities added pursuant to Sections 2.22, 2.23 or 9.02(c).

  • Material Credit Facility means, as to the Company and its Subsidiaries,