Defaulted debt means a debt where a customer has seriously breached the repayment terms governing that debt such that it is unlikely to be paid. Under the Consumer Credit Act there are specific legal obligations which require a customer to be sent the relevant statutory default notice(s) after which the customer’s agreement may ultimately be terminated. Other types of debts may also be defined as defaulted in the event that they remain unpaid for a period of 90 days or more, if there is not an acceptable arrangement in place to bring the account back up to date, in which case the creditor or lender may reasonably believe that the relationship has broken down. Under the Data Protection Act it is a requirement that any organisation seeking to register a default with a credit reference agency must also send a notice of intention to file a default, this notice is very similar in nature to that required under the Consumer Credit Act both of which give the debtor 28 days to bring the account back up to date before action is taken.

Defaulted debt has the meaning specified in Section 6.01(p).

Defaulted debt means (x) any Indebtedness of the type listed under clauses (a), (b), (c), (e) and (g) of the definition of "Indebtedness" (without duplication, Contingent Liabilities in respect of such type of Indebtedness) and (y) any Indebtedness, whether or not for borrowed money,

Examples of Defaulted debt in a sentence

Stage 1Stage 2Stage 3• Debt with no significant credit quality deterioration• Investment grade debts• Debt with significant increase in PD since origination• Defaulted DebtFor Stage 3 – Defaulted debt the impairment testing process for any individually securities is applied.
Defaulted debt grows at rate R and new loans carry a price q(z , B, D) that compensates for the possible losses due to default.
Stage 1Stage 2Stage 3• Debt with no significant credit quality deteriorationInvestment grade debts• Debt with significant increase in PD sinceorigination• Defaulted DebtFor Stage 3 – Defaulted debt the impairment testing process for any individually securities is applied.
Defaulted debt portfolios are sold to third parties at significant discounts to the principal value of the debt.
Defaulted debt returns in our sample are observed to be increasing in collateral quality or debt cushion of the issue.
Defaulted debt portfolios are serviced by third parties for a fee.
Defaulted debt is still valuable as the government recovers access to markets with constant probability θ.

More Definitions of Defaulted debt

Defaulted debt means a Debt in respect of which (a) the relevant Debtor has become Insolvent; (b) consistent with the Seller’s credit and collection policy as amended from time to time in accordance with Clause 14.3(E), it would be written off as uncollectible; (c) any payment, or part thereof, remains unpaid, for the Default Period or more; (d) the relevant Debtor or the Seller is in breach of any Contract between them and such breach may give rise to a right of set-off (or other analogous rights) in favour of that Debtor.

Defaulted debt means a debt where a customer has breached the repayment terms governing that debt such that it is unlikely to be paid. Under the Consumer Credit Act 1974 there are specific legal obligations which require a customer to be sent the relevant statutory default notice(s) after which the customer’s agreement may ultimately be terminated. Other types of debts may also be defined as defaulted in the event that they remain unpaid for a period of 90 days or more, if there is not an acceptable arrangement in place

Defaulted debt means the indebtedness in the aggregate outstanding principal amount of $7,562,526.00 under those certain promissory notes dated August 30, 2001 and originally payable to Compania Ericsson S.A.C.I.

Defaulted Amounts means any amounts on any Note (including, without limitation, the Redemption Price, the Fundamental Change Repurchase Price, principal and interest) that are payable but are not punctually paid or duly provided for.
Defaulter means any person who owes arrears to the Municipality;
Defaulted Receivable means a Receivable:
Permitted Additional Indebtedness means Permitted Additional Unsecured Indebtedness and Permitted Additional Secured Indebtedness.
Outstanding Indebtedness means the aggregate of the Loan and interest accrued and accruing thereon, the Master Swap Agreement Liabilities, the Expenses and all other sums of money from time to time owing by the Borrowers to the Mortgagee and/or any of the Secured Creditors, whether actually or contingently, present or future, under or pursuant to the Loan Agreement, the Master Swap Agreement, the Security Documents or any of them;