Account Debtor definition
Account Debtor means any Person obligated on an Account.
Account Debtor means any Person who is or who may become obligated to any Grantor under, with respect to or on account of an Account.
Account Debtor is any “account debtor” as defined in the Code with such additions to such term as may hereafter be made.
Examples of Account Debtor in a sentence
Each Grantor shall endeavor in accordance with reasonable business practices to cause to be collected from the Account Debtor named in each of its Accounts or obligor under any Contract, as and when due (including, without limitation, amounts which are delinquent, such amounts to be collected in accordance with customary collection procedures) any and all Collections, and apply forthwith upon receipt thereof all such Collections to the outstanding balance of such Account or under such Contract.
No Loan Party has received any notice of actual or imminent insolvency of an Account Debtor that is responsible for more than $250,000 of outstanding Accounts in the aggregate.
More Definitions of Account Debtor
Account Debtor means any Person who is obligated under, with respect to, or on account of, an Account, chattel paper, or a General Intangible.
Account Debtor means each Person who is obligated on a Receivable or any Supporting Obligation related thereto.
Account Debtor means the obligor on an Account.
Account Debtor means any Person who may become obligated to any Credit Party under, with respect to, or on account of, an Account, Chattel Paper or General Intangibles (including a payment intangible).
Account Debtor means a person obligated on an account, chattel paper, or general intangible. The term does not include persons obligated to pay a negotiable instrument, even if the instrument constitutes part of chattel paper.
Account Debtor. Has the meaning given that term in the UCC.
Account Debtor means “account debtor”, as defined in Article 9 of the UCC, and any other obligor in respect of an Account.