Defaulter definition

Defaulter means any person who owes arrears to the Municipality;

Defaulter means a customer who owes arrears to the municipality;

Defaulter means a participant who is the subject of any default proceedings;

Examples of Defaulter in a sentence

• A Retiring Member other than a Defaulter shall be liable in respect of Aggregate Excess Losses relating to any Default which arises prior to the relevant Retirement Effective Date.

• We further confirm that none of our companies/promoters/directors appear in RBI Caution List, RBI Willful Defaulter List (Suit filed as well as non-suit filed), Credit Information Bureau India Ltd.

• The arrangements for a Clearing Member who is a Defaulter to resign from a particular Service or retire from Clearing Member status and for the repayment of the Collateral and the Contributions provided by such Defaulter to the Clearing House are as set out in the Default Rules.

• Where a Clearing Member that is a Buyer or Seller under a Contract subject to delivery is subject to an Event of Default or Force Majeure Event, the rights, liabilities and obligations of any Clearing Member that is not a Defaulter in respect of such performance shall be discharged and there shall arise in place of the same an obligation to account as between the Clearing Member and the Clearing House for a settlement amount.

• The Clearing House shall direct how the settlement amount is to be accounted for between the Defaulter and itself.

More Definitions of Defaulter

Defaulter means the person and in the case of a company or firm every director or partner of the company or, as the case may be of the firm and of which he is a director or a partner of proprietor, and includes the guarantor who fails to pay outstanding arrears.]

Defaulter means a Customer whose account is in arrears;

Defaulter means a customer who owes arrears;

Defaulter means a customer who owes money to the Municipality after the due date for payment has expired;

Defaulter means a person who owes money to municipality after the due date has expired.

Defaulter means a person and, in the case of a company or firm, every director of the company or partner of the firm and includes guarantors or successors, who fail to pay the arrears of tax under this Act and the rules;

Defaulter means any customer in arrears.