Debtor Bank definition

Debtor Bank means a Financial Institution where the debtor’s payment’s account to be debited is held.
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Debtor Bank. “Paying Bank” or “Issuing Bank” is the Bank having the relationship with the Payer and making the payment pursuant to the receipt of a Payment Instruction;
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Examples of Debtor Bank in a sentence

  • The Debtor Bank is obliged to execute all rejections, returns and even if the Account Holder’s Account is closed.

  • If a Creditor or the Creditor’s Bank requests the reversal of a SEPA Direct Debit, the Debtor Bank is obliged to fulfill this request without the Account Holder's prior agreement and with no obligation to check whether the original collection was debited to the Account Holder’s Account or was rejected, returned or refunded.

  • It assumes, therefore, that the user follows the path set out for them.

  • Under the Scheme the Debtor Bank is entitled to recover the amount of a Refund from the Creditor Bank and the Creditor Bank is entitled to recover the amount of this Refund from the Creditor.

  • In addition, moneys are deposited directly into the Non-T4 Account from sources other than Debtor Bank Accounts, including funds from Veterans Affairs, proceeds from asset sales, corporate deposits, and miscellaneous wire and ACH transfers.

  • The current definition of SEPA encompasses the EU member states together with Iceland, Liechtenstein, Monaco, Norway, and Switzerland.Transactions for the collection of funds from a Debtor’s account with a Debtor Bank are initiated by a Creditor via its bank as agreed between Debtor and Creditor.

  • The Debtor, Bank Group and Committee each shall have standing to file a motion seeking authorization for earlier, partial distributions.

  • The Debtors pay, honor, or allow the deduction from the Debtor Bank Accounts service charges and other fees, costs, and expenses arising in the ordinary course (collectively, the “Bank Fees”).

  • To effect the purposes of this Agreement or otherwise upon instructions of Debtor, Bank may cause any Collateral and/or Proceeds to be transferred to Bank’s name or the name of Bank’s nominee.

  • If the Debtor Bank rejects the refund claim it will inform the Account Holder accordingly and supply the Account Holder with the relevant supporting evidence received from the Creditor.

Related to Debtor Bank

  • Debtor means a person who is liable on a claim.

  • Reorganized Debtor means a Debtor, or any successor or assign thereto, by merger, consolidation, or otherwise, on and after the Effective Date.

  • Debtors has the meaning set forth in the Recitals.

  • Reorganized means, with respect to the Debtors, any Debtor or any successor thereto, by merger, consolidation or otherwise, on or after the Effective Date.

  • Debtor Laws means all applicable liquidation, conservatorship, bankruptcy, moratorium, arrangement, receivership, insolvency, reorganization, or similar laws, or general equitable principles from time to time in effect affecting the rights of creditors generally.

  • Reorganized Debtors means, subject to the Restructuring Transactions, the Debtors as reorganized pursuant to this Plan on or after the Effective Date, and their respective successors.

  • Payor bank means a bank that is the drawee of a draft.

  • New debtor means a person that becomes bound as debtor under section 9203(4) by a security agreement previously entered into by another person.

  • Prepetition means arising or accruing prior to the Petition Date.

  • Non-Debtor Affiliate means any Affiliate of the Debtors that is not a Debtor in the Chapter 11 Cases.

  • Eye bank means a person that is licensed, accredited, or regulated under federal or state law to engage in the recovery, screening, testing, processing, storage, or distribution of human eyes or portions of human eyes.

  • Non-Debtor Subsidiaries means all direct and indirect subsidiaries of any Debtor that are not Debtors in the Chapter 11 Cases.

  • Prepetition Collateral means the collateral securing the Prepetition BP Secured Claim, including, without limitation, the Posted Collateral.

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • Unsecured Creditors means all Creditors with Concurrent Claims against the Company;

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • DIP Motion means the motion and proposed form of Interim DIP Order filed by the Loan Parties with the Bankruptcy Court on the Petition Date or as soon as reasonably practicable thereafter seeking approval, on an interim and final basis, of (among other things) the DIP Facility, and authorization for the use of cash collateral (including such terms and conditions relating to adequate protection in connection therewith), in each case, in form and substance acceptable to the Agent and the Required Lenders.

  • Subsidiary Debtors means, collectively, Congoleum Sales, Inc. and Congoleum Fiscal, Inc.

  • SBI / Bank means State Bank of India (client) a body Corporate created under SBI Act 1955, having one of its Circle Office at State Bank of India, III/1 Pandit Jawaharlal Nehru Marg, Bhubaneswar- 01 and includes the client’s representatives, successors and assigns.

  • Chapter 11 means Chapter 11 of the Bankruptcy Code.

  • Debtor in Possession means any Debtor, in its capacity as a debtor in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code.

  • PNC Bank means PNC Bank, National Association.

  • Debtor Release means the release given on behalf of the Debtors and their Estates to the Released Parties as set forth in Article VIII.D of the Plan.

  • Obligated bank means the issuer of a cashier's check or teller's check or the acceptor of a certified check.

  • Delaware Bank has the meaning specified in the preamble to this Trust Agreement.

  • Prepetition Agent means Goldman Sachs Bank USA in its capacity as administrative agent and collateral agent under the Prepetition Credit Agreement.