Applicant Debts Clause Samples

The Applicant Debts clause defines the responsibilities and obligations of the applicant regarding any outstanding debts or financial liabilities. Typically, this clause requires the applicant to disclose all existing debts, loans, or financial commitments, and may specify how these debts affect their eligibility or obligations under the agreement. By clearly outlining the treatment of applicant debts, this clause helps ensure transparency, allows the other party to assess financial risk, and prevents disputes related to undisclosed liabilities.
Applicant Debts. Alberta Innovates reserves the right to withhold payment of any portion of the Investment if the Applicant incurs a debt to Alberta Innovates or its affiliates InnoTech Alberta Inc. or C-FER Technologies (1999) Inc. This Section Includes debts related to any agreements, projects or relationships between Alberta Innovates or its affiliates and the Applicant.
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Related to Applicant Debts

  • No Insolvent Obligors As of the Cut-off Date, no Obligor on a Receivable is shown on the Receivable Files as the subject of a bankruptcy proceeding.

  • Debts Each party agrees to be separately liable for his or her debts incurred prior to the marriage. During the course of the marriage, both parties shall be responsible for any expenses incurred for the basic necessities of life, such as food, basic clothing needs, shelter, and medical care. With respect to credit card accounts, each party shall retain separate credit card accounts for his or her respective use, if desired.

  • Other Debts Not to have outstanding or incur any direct or contingent liabilities or lease obligations (other than those to the Bank), or become liable for the liabilities of others, without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Liabilities, lines of credit and leases in existence on the date of this Agreement disclosed in writing to the Bank.

  • Account Debtor The words "Account Debtor" mean the person or entity obligated upon an Account.

  • Payment of Debts Contractor must pay all amounts shown as due to the City on the City’s accounts, even if a dispute exists as to the debt’s validity or enforceability.