Contra Account definition

Contra Account means an Account due from an account debtor to which the Borrower owes money.
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Contra Account an account on the balance sheet of a Person that offsets the balance of a related and corresponding account.
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Contra Account means, in relation to any Obligor which (when aggregated with its Affiliated Obligors) is among the 25 largest Obligors based on the aggregate Outstanding Balance of its Receivables, the aggregate of all potential set-off amounts which would be payment obligations of any Seller to such Obligor, together with any other reserves booked by such Seller with respect to payment obligations of such Obligor.
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Examples of Contra Account in a sentence

  • If the reasons for blocking the account are not of a temporary nature, the Bank will transfer the funds in your CTA to your Contra Account.

  • If your application is not accepted, i.e. if it is not accepted within three (3) working days of the receipt of the deposit, the Bank will transfer the deposit back to your Contra Account.

  • We will subsequently transfer this balance to your Contra Account provided this is not forbidden by law or regulations.

  • You should do this by depositing at least €0.01 in one of the following ways: (1) the identifying deposit is made by a Payment Service- Provider, after which the deposit is credited back to the Contra Account; or (2) the Payment Service-Provider makes the identifying deposit into your CTA.

  • In addition, you can make a Deposit into the CTA by using the payment module offered by a payment service-provider designated by BUX, or from your Contra Account.


More Definitions of Contra Account

Contra Account means the Outstanding Balance of a Pool Receivable that is offset by a corresponding account payable due from the Originator to the related Obligor.
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Contra Account means a credit or offset against a Receivable because of a corresponding obligation of an Originator thereof owing to the Obligor thereof, in any case, solely to the extent that such credit or offset arises in the ordinary course of business.
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Contra Account means a Receivable that may be offset by a current account payable due from an Originator to the related Obligor
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Contra Account means, when the Parent is at Leverage ▇▇▇▇▇ ▇, a Receivable that may be offset by a current account payable due from an Originator to the related Obligor.
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Contra Account means the account against which the Control Account’s balances settled as per the parameters defined for that Control Account.
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Contra Account means a Receivable that may be offset by a current account payable from an Originator to the related Obligor.
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Contra Account means an account on the balance sheet of a Person that offsets the balance of a related and corresponding account. “Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other
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