Debtor Bank definition

Debtor Bank means a Financial Institution where the debtor’s payment’s account to be debited is held.
Sample 1Sample 2Sample 3
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;
Sample 1Sample 2

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.

  • 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”).

  • 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.

  • The e-Mandate service adds the following obligations for the Debtor Bank: In respect of each of its Debtors, a Debtor Bank shall:• l.

  • The majority of the Debtor Bank Accounts, approximately 50 of the 81 accounts, are deposit accounts.

  • After receipt of the response from the Creditor Bank, or after 30 Calendar Days at the latest starting from the receipt of the claim by the Debtor Bank from the Debtor, the Debtor Bank must determine the Refund claim.

  • Within this eight-week period Refunds will be provided to the Debtor by the Debtor Bank on a no-questions-asked basis.

  • 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.

  • 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.

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 the Debtors, as reorganized pursuant to and under the Plan, or any successor thereto, by merger, consolidation, or otherwise, on or after the Effective Date, including Reorganized HoldCo.

  • 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 creditors of the Issuer: (a) who are unsubordinated creditors of the Issuer; (b) whose claims are, or are expressed to be, subordinated to the claims of unsubordinated creditors of the Issuer but not further or otherwise; or (c) whose claims are, or are expressed to be, junior to the claims of other creditors of the Issuer, whether subordinated or unsubordinated, other than those whose claims rank, or are expressed to rank, pari passu with, or junior to, the claims of the Holders in a winding-up in respect of the Securities (and, for the avoidance of doubt, Senior Creditors shall include holders of Tier 2 Capital instruments);

  • 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 a motion to be filed by the Debtors with the Bankruptcy Court seeking Bankruptcy Court approval of the DIP Facility, which motion shall be consistent in all material respects with this Agreement and otherwise in form and substance reasonably acceptable to the Requisite Parties.

  • 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 the Postpetition Lender as Administrative Agent under the Prepetition Credit Agreement.