Insured Debt definition

Insured Debt means any debt of Parent or its Subsidiaries that is guaranteed by Corp., provided that the proceeds of such debt are used to purchase securities, instruments, notes or other obligations issued or owed by any Person that is not an Affiliate of Parent, in the ordinary course of business.
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Insured Debt means any debt of the Borrower or its Subsidiaries that is guaranteed by the Borrower, Radian Asset Assurance, Inc. or another Insurance Subsidiary, provided that the proceeds of such debt are used to purchase securities, instruments, notes or other obligations issued or owed by any Person that is not an Affiliate of Borrower, in the ordinary course of business.
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Insured Debt means the invoice value in the Contract Currency of Eligible Shipments unpaid by a Buyer upon its Insolvency, Protracted Default or due to Political Risk, including any non- penalty interest stated in the Contract of Sale. The Insured Debt shall be restricted to and shall never exceed, the Buyer Limit.Insured Debt shall not include:
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Examples of Insured Debt in a sentence

  • An Insured Buyer is any buyer or a legal entity including a natural person that is liable to the Insured for payment of the Insured Debt in respect of shipments that are dispatched by the Insured in pursuance of a contract of sale, being not a buyer or such buyer in a country, excluded from the purview of cover under any provisions of the Policy.

  • Import Restriction means the implementation of any law or order, decree or regulation having the force of law, by the Government of the Insured Buyer’s country, after dispatch of the goods by the Insured, which in circumstances outside the control of the Insured and / or the Insured Buyer, prohibits the import of goods into the Insured Buyer’s country and which directly prevents payment of the Insured Debt.

  • If requested by us to do so, you shall execute such documents and take such actions as we may require of you, to enable us to intervene directly in any proceedings relating to the Insured Debt.

  • There is Protracted Default when the Insured Buyer having accepted delivery of goods under a valid contract of sale, has failed to pay to the Insured, whole or any part of an Insured Debt, and it remains overdue and unpaid for a considerable long time.

  • Due date of Payment shall mean the date on which the Insured Debt is due for payment by the Insured Buyer to the Insured and shall also include any extension of the original due date of payment duly agreed in writing between the Insured and the Insured Buyer with ECGC’s prior written approval.

  • Insured Percentage means the percentage of any Insured Debt for which this Policy provides an indemnity.

  • The Protracted Default Period means the period specified in the Schedule and which commences on the original due date for payment of an Insured Debt under the relevant contract of sale or, if that original due date is postponed, such postponed due date.

  • The Insured must use due diligence and do all things reasonable and practicable to avoid or diminish any Insured Debt, must act promptly in accordance with any reasonable instructions that the Insurer gives and must exercise reasonable care and prudence in granting credit to and withholding credit from an Insured Buyer as if the Insured were uninsured.

  • The Insured shall not agree to a postponement of the due date for payment of any part of the Insured Debt provided, however, that in the event of the need for such postponement arising at or shortly before the due date, the Insured may grant such postponement as may have been agreed upon with the Insurer.


More Definitions of Insured Debt

Insured Debt has the meaning assigned to such term in Section 9.4(d).
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Insured Debt means packing / preshipment advances granted by the insured to an exporter against his export orders or Export Letters of credit or against anticipated orders.
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Insured Debt shall comprise and be specifically limited to –
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Insured Debt means all Relevant Debts generated by an Insured Debtor and which are insured under one of the Policies.
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Insured Debt means post shipment advances granted by the insured to an exporter against his export receivables.
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Insured Debt means the value of the Invoices accepted by the Insured Debtor and transferred by the Seller to the Insured who accepted them within the limits and conditions of the Credit Limit decision issued by the Corporation.
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Related to Insured Debt

  • Secured Debt means Debt of the Company or its Subsidiaries secured by an Encumbrance on the property of the Company or its Subsidiaries.

  • Covered Debt Amount means, on any date, the sum of (x) all of the Revolving Credit Exposures of all Lenders on such date plus (y) the aggregate principal amount (including any increase in the aggregate principal amount resulting from payable-in-kind interest) of Other Covered Indebtedness outstanding on such date.

  • Unsecured Debt means Debt which is not secured by any of the properties of the Company or any Subsidiary.

  • Funded Debt means all Indebtedness of the Borrower and the Restricted Subsidiaries for borrowed money that matures more than one year from the date of its creation or matures within one year from such date that is renewable or extendable, at the option of such Person, to a date more than one year from such date or arises under a revolving credit or similar agreement that obligates the lender or lenders to extend credit during a period of more than one year from such date, including Indebtedness in respect of the Loans.

  • 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:

  • Contingent Obligation means, as to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to any Indebtedness, lease, dividend or other obligation of another Person if the primary purpose or intent of the Person incurring such liability, or the primary effect thereof, is to provide assurance to the obligee of such liability that such liability will be paid or discharged, or that any agreements relating thereto will be complied with, or that the holders of such liability will be protected (in whole or in part) against loss with respect thereto.

  • Consolidated Secured Debt means, as at any date of determination, the Consolidated Total Indebtedness of the Borrower and the Restricted Subsidiaries that is secured by Liens on assets or property of Holdings, the Borrower and the Restricted Subsidiaries as of such date.

  • Total Funded Indebtedness means, at any date, the aggregate principal amount of all Funded Indebtedness of Holdings and its Restricted Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP.

  • 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:

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

  • Consolidated Indebtedness means at any time all Indebtedness of the Borrower and its Subsidiaries calculated on a consolidated basis as of such time.

  • Acquisition Indebtedness any Indebtedness of the Company or any of its Subsidiaries that has been issued for the purpose of financing, in whole or in part, a Material Acquisition and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any pre-existing Indebtedness of the Company, any of its Subsidiaries or the person(s) or assets to be acquired); provided that (a) the release of the proceeds thereof to the Company and its Subsidiaries is contingent upon the consummation of such Material Acquisition and, pending such release, such proceeds are held in escrow (and, if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such acquisition is terminated prior to the consummation of such Material Acquisition or if such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Company and its Subsidiaries in respect of such Indebtedness) or (b) such Indebtedness contains a “special mandatory redemption” provision (or other similar provision) or otherwise permits such Indebtedness to be redeemed or prepaid if such Material Acquisition is not consummated by the date specified in the definitive documentation relating to such Indebtedness (and if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated in accordance with its terms prior to the consummation of such Material Acquisition or such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such Indebtedness is so redeemed or prepaid within 90 days of such termination or such specified date, as the case may be).