Exposed Payments definition

Exposed Payments. Payments received by Lender from an Account Debtor that has become subject to a bankruptcy proceeding, to the extent such payments cleared said Account Debtor’s deposit account within ninety days of the commencement of said bankruptcy case.

Exposed Payments any payments received by Purchaser from or for the account of a Payor that has become subject to a bankruptcy or other form of debtor relief proceeding, to the extent such payments cleared the Payor's deposit account within ninety days of the commencement of said bankruptcy case or are otherwise subject to avoidance.

Exposed Payments. With respect to an Account which Seller has repurchased or could be required to repurchase hereunder, payments received by Purchaser from or for the Account of a Payor that has become subject to a bankruptcy proceeding, to the extent such payments cleared the Payor’s deposit account within ninety (90) days of the commencement of said bankruptcy case.

Examples of Exposed Payments in a sentence

• Purchaser may charge the preference reserve with the amount of any Exposed Payments that Purchaser pays to the bankruptcy estate of the Payor that made the Exposed Payment, because of a claim asserted under Section 547 of the Bankruptcy Code.

• Upon termination of this Agreement Seller shall pay to Purchaser (or Purchaser may retain), to hold in a non-segregated, non-interest-bearing account the amount of all Exposed Payments (the “Preference Reserve”).

• Upon termination of this Agreement and in addition to any other Obligations owing, Client shall pay to Triumph (or Triumph may retain in a non-segregated non-interest bearing account) an amount equal to the total of all Exposed Payments (the “Preference Reserve”).

• Purchaser may charge the Preference Reserve with the amount of any Exposed Payments that Purchaser pays to the bankruptcy estate of the Payor that made the Exposed Payment, on account of a claim asserted under Section 547 of the Bankruptcy Code.

• Upon termination of this Agreement, Seller shall pay to Purchaser (or Purchaser may retain or hold in a non-segregated non-interest bearing account) the amount of all Exposed Payments (the “Preference Reserve”).

More Definitions of Exposed Payments

Exposed Payments. Payments received by Meridian from a Payor that has become subject to a bankruptcy proceeding, to the extent such payments cleared said Payor's deposit account within ninety days of the commencement of said bankruptcy case.

Exposed Payments payments received by Triumph that may subject Triumph to an Avoidance Claim under the United States Bankruptcy Code.

Exposed Payments. Payments received by CCL from an Account Debtor which has become subject to a bankruptcy proceeding, to the extent such payments cleared said Account Debtor's deposit account within ninety days of the commencement of said bankruptcy case.

Exposed Payments means payments received by Purchaser from or for the account of a customer that has become subject to an Insolvency Proceeding, to the extent such payments cleared the customer's deposit account within ninety (90) days of the commencement of such Insolvency Proceeding, together with all attorneys' fees which, in Purchasers sole discretion, may be necessary to defined Purchaser's right, title and interest in and to said payments.

Exposed Payments means payments received by MBFG from or for the account of an Obligor that have become subject to a bankruptcy proceeding, to the extent such payments cleared Obligor’s deposit account within ninety days of the commencement of said bankruptcy case.

Exposed Payments payments received by Purchaser from or for the account of a Payor that has become subject to a proceeding under any Insolvency Law, to the extent such payments cleared the Payor’s deposit account within ninety days of the commencement of said proceeding or are otherwise reasonably susceptible to an Avoidance Claim.

Exposed Payments payments received by Lender from or for the account of an Account Debtor that has become subject to an Insolvency Proceeding, to the extent those payments cleared the Account Debtor’s deposit account within ninety (90) Days of the commencement of the commencement of the Insolvency Proceeding or are or may otherwise be subject to a claim for recall or avoidance of those payments under Applicable Law, in Lender’s determination.