Definition of Postponed Debt


Postponed Debt means all sums due and to become due to Scottish Ministers by the Owner whether as principal debtor, co-obligant, guarantor, surety or otherwise (including all present, future or contingent obligations owed to Scottish Ministers, whether such obligations exist now or arise in the future) together with interest and charges, interest on them and all commission, charges, fees, costs and expenses arising or incurred in connection with those sums;
Sample 1 Sample 2 Sample 3

Examples of Postponed Debt in a sentence

The subordination and postponement herein provided shall be in effect notwithstanding: (1) the respective dates of the creation or incurrence of any Postponed Debt or the Senior Obligations or any terms thereof; (2) the respective dates of execution and registration of the Security; (3) the provisions of the Security; or (4) any other act or circumstance whatsoever which may otherwise alter or affect the subordination and postponement herein provided.