Ultimate Debtor definition

Ultimate Debtor means any client of Borrower from whom Borrower has purchased such Ultimate Debtor’s accounts receivable in connection with a factoring arrangement between Borrower and Ultimate Debtor.
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Examples of Ultimate Debtor in a sentence

  • The Lender may at any time (whether or not a Default Period then exists) notify any account debtor (including, without limitation, any Ultimate Debtor Customer) or other Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender.

  • The Borrower will not at any time modify, amend, subordinate, cancel or terminate the obligation of any Ultimate Debtor or other obligor of the Borrower.

  • After notice from the Lender, the Borrower will not grant any discount, credit or allowance to any Ultimate Debtor or to any Ultimate Debtor Customer or accept any return of goods sold.

Related to Ultimate Debtor

  • corporate debtor means a corporate person who owes a debt to any person;

  • New debtor means a person that becomes bound as debtor under section 9203(4) by a security agreement previously entered into by another person.

  • Account Debtor means any Person who is obligated on an Account, chattel paper, or a general intangible.

  • Debtor means a person who is liable on a claim.

  • judgment debtor means any person against whom a decree has been passed or an order capable of execution has been made;