Contractually liable definition

Contractually liable means ex- pressly obligated to repay all debts arising on an account by reason of an agreement to that effect.
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Contractually liable means expressly obligated to repay all debts arising on an account by reason of an agreement to that effect.
Sample 1Sample 2Sample 3
Contractually liable means expressly obligated to repay all debts arising on an account by reason of an agree- ment to that effect.
Sample 1Sample 2Sample 3

Examples of Contractually liable in a sentence

  • Contractually liable means expressly obligated to repay all debts arising on an account by reason of an agreement to that effect.

  • The address at which the Customer who is Contractually liable for Utility Services receives billings from the District.


More Definitions of Contractually liable

Contractually liable meansexpressly obligated to repay all debts arising on an account by reason of an agreement to that effect.
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Contractually liable meansexpressly obligated to repay all debts arising on an account by reason of an agreement to that effect.(j) Credit means the right granted by a creditor to an applicant to deferpayment of a debt, incur debt and defer its payment, or purchase property or services and defer payment therefor.(k) Credit card means any card, plate, coupon book, or other single creditdevice that may be used from time to time to obtain money, property, or services on credit.(l) Creditor means a person who, in the ordinary course of business,regularly participates in øthe decision of whether or not to extend credit ¿ flacredit decision fi. The term includes a creditor’s assignee, transferee, orsubrogee who so participates. Forpurposes of §§ 202.4fl(a)fi and fl(b)fiø202.5(a)¿, the term also includes aperson who, in the ordinary course of business, regularly refers applicants or prospective applicants to creditors, or selects or offers to select creditors towhom requests for credit may be made. A person is not a creditor regarding any violation of the Act or this regulationcommitted by another creditor unless the person knew or had reasonablenotice of the act, policy, or practice that constituted the violation beforebecoming involved in the credittransaction. The term does not include a person whose only participation in a credit transaction involves honoring a credit card.(m) Credit transaction means everyaspect of an applicant’s dealings with a creditor regarding an application forcredit or an existing extension of credit (including, but not limited to,information requirements; investigation procedures; standards ofcreditworthiness; terms of credit; furnishing of credit information;revocation, alteration, or termination of credit; and collection procedures).(n) Discriminate against an applicantmeans to treat an applicant less favorably than other applicants.(o) Elderly means age 62 or older.(p) Empirically derived and other credit scoring systems— (1) A creditscoring system is a system that evaluates an applicant’s creditworthinessmechanically, based on key attributes of the applicant and aspects of thetransaction, and that determines, alone or in conjunction with an evaluation of additional information about theapplicant, whether an applicant isdeemed creditworthy. To qualify as an empirically derived, demonstrably and statistically sound, credit scoringsystem, the system must be:(i) Based on data that are derived from an empirical comparison of samplegroups or the population ...
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Contractually liable means being expressly obligated to repay all debts on an account, pursuant to an agreement.494
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Contractually liable means ex­
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Related to Contractually liable

  • Permitted Entity means with respect to a Qualified Stockholder (a) a Permitted Trust (as defined below) solely for the benefit of (i) such Qualified Stockholder, (ii) one or more Family Members of such Qualified Stockholder and/or (iii) any other Permitted Entity of such Qualified Stockholder, or (b) any general partnership, limited partnership, limited liability company, corporation or other entity exclusively owned by (i) such Qualified Stockholder, (ii) one or more Family Members of such Qualified Stockholder and/or (iii) any other Permitted Entity of such Qualified Stockholder.

  • BREACH OF CONTRACTUAL OBLIGATION means amongst others also the following:

  • Extra Contractual Obligations shall be defined as those liabilities not covered under any other provision of this Contract and that arise from the handling of any claim on business covered hereunder, such liabilities arising because of, but not limited to, the following: failure by the Company to settle within the Policy limit, or by reason of alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action.

  • Incur means issue, assume, guarantee, incur or otherwise become liable for; provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, amalgamation, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a Subsidiary.

  • Contingent Obligation is, for any Person, any direct or indirect liability, contingent or not, of that Person for (a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse by that Person, or for which that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent Obligation” does not include endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement.

  • Contingent Obligations means, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation of such Person, whether or not contingent:

  • Sexually violent offense means an offense for which a conviction has been entered for any of the following indictable offenses:

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • Excluded Indebtedness means all Indebtedness not incurred in violation of Section 6.01.

  • Substantially similar means substantially similar in function or capability or otherwise competitive to the products or services being developed, manufactured or sold by the Company during and/or at the end of Executive’s employment, or are marketed to substantially the same type of user or customer as that to which the products and services of the Company are marketed or proposed to be marketed.

  • Project Finance Indebtedness means any present or future indebtedness incurred to finance the ownership, acquisition, development and/or operation of an asset, whether or not an asset of a member of the Group:

  • Indebtedness for Borrowed Money means any present or future indebtedness (whether being principal, premium, interest or other amounts) for or in respect of (i) money borrowed, (ii) liabilities under or in respect of any acceptance or acceptance credit or (iii) any bonds, notes, debentures, loan capital, certificates of deposit, loan stock or other like instruments or securities offered, issued or distributed whether by way of public offer, private placement, acquisition consideration or otherwise and whether issued for cash or in whole or in part for a consideration other than cash;

  • Borrowed Money means any obligation (excluding an obligation under a revolving credit arrangement for which there are no outstanding, unpaid drawings in respect of principal) for the payment or repayment of borrowed money (which term shall include, without limitation, deposits and reimbursement obligations arising from drawings pursuant to letters of credit);

  • Permitted Indebtedness means, without duplication, each of the following:

  • Indebtedness means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

  • Sexually oriented business means an adult arcade, adult bookstore or adult video store, adult cabaret, adult motel, adult motion picture theater, adult theater, escort agency, nude model studio, or sexual encounter center.

  • Contingent Load means Load payable by the Unit Holder at actual basis to the extent of loss incurred by fund due to disinvestments if Units are redeemed by any major Unit Holder in such period of time that the Management Company believes may adversely affect the interest of other Unit Holder(s). Any Contingent Load received will form part of the Trust Property.

  • Physically Secure means that access is restricted through physical means to authorized individuals only.