Ledger Debt definition

Ledger Debt means any debt, liability or obligation now or hereafter owing by Client to others, including any present or future client of Factor, which Factor may have obtained or may obtain by purchase, assignment, negotiation, discount, participation or otherwise.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Ledger Debt means the outstanding amount of any indebtedness for goods and services purchased by a Borrower or its Affiliates from any Person whose Accounts are factored by Factor or the face amount of any orders for goods which are to be purchased by a Borrower or its Affiliates from any Person whose Accounts are factored by Factor pursuant to a purchase order that has been credit approved by Factor.

Ledger Debt means Indebtedness for goods and services purchased by any Borrower from any Person whose Accounts are factored or financed by CIT.

Examples of Ledger Debt in a sentence

• Obligations also include ledger debt (which means indebtedness for goods and services purchased by you from any party whose accounts receivable are factored or financed by us) ("Ledger Debt"), and indebtedness arising under any guaranty, credit enhancement or other credit support granted by you in our favor.

• The aggregate amount of Ledger Debt outstanding at any time shall not exceed the Ledger Debt Availability.

• All of the Agent’s and the Lenders’ rights, liens and security interests granted pursuant to the Loan Documents shall continue after any termination of this Financing Agreement pursuant to this Section 11 until all Obligations, other than Ledger Debt owing to CIT, have been fully and finally paid and satisfied.

• All Obligations, including, without limitation, Ledger Debt (as defined below) and any debit balance in the Reserve Account, are repayable by Client on demand and may be charged to the Reserve Account when due.

• In addition, we will establish a discretionary line for you and Candies of up to $250,000.00 in the aggregate outstanding at any one time for Ledger Debt (as defined in section 11).

More Definitions of Ledger Debt

Ledger Debt. Obligations owing to Hell▇▇ ▇▇ a result of Hell▇▇'▇ ▇▇▇chases of invoices evidencing sales to Client by Hell▇▇ ▇▇▇ents.

Ledger Debt means any Indebtedness for goods or services purchased or obtained by the Companies from any party whose Accounts are factored or financed by Lender.

Ledger Debt means indebtedness owing by a Borrower to the Factor by ----------- reason of such Borrower's purchases from other entities factored by the Factor, provided that the Factor shall include CIT, as a participant of the Factor in each Factoring Agreement.

Ledger Debt. Indebtedness owing by Client to Hana as a result of Hana’s purchases of invoices evidencing sales to Client by Hana Clients.

Ledger Debt means all sums owing to you and, during the term of the Participation Agreement between you and The CIT Group/Commercial Services, Inc. ("CIT") of even date herewith, to CIT for goods and/or services purchased from any other firm factored by you or CIT.

Ledger Debt means any and all amounts now or hereafter owing by you on any accounts factored or financed by us for our other clients. All costs and expenses incurred by us, including reasonable attorneys' fees as provided for in this Agreement, shall become a part of the principal amount of the Obligations and shall be secured by the Collateral. Any reserves or balances to your credit and any other assets, collateral or property of yours in our possession may be held by us as security for any Obligations. The Obligations shall also include, without limitation, any cost or expense (including reasonable attorneys fees) that we may incur in the negotiation, execution, delivery, performance or enforcement of this Agreement, or in prosecuting or defending any action, suit or proceeding arising out of or in connection with this Agreement or relating to any Collateral, or that may pay on your behalf (including, without limitation, expenses of mailing and for envelopes in sending any invoices to Account Debtors, amounts paid to discharge any liens upon the Collateral, wire transfer charges, bank analysis charges or charges for returned items, public record search fees, filing fees, any taxes or other governmental charges assessed against any Collateral or payable by you in connection with any Account, and any other cost or expense related to this Agreement); provided, however, in no event shall we be obligated to incur or pay any amounts on your behalf. We may, in our discretion, charge any or all of the Obligations to your Reserve Account at any time and from time to time.

Ledger Debt means indebtedness owing by Borrower to Hell▇▇ ▇▇ a result of Hell▇▇'▇ ▇▇▇chase of invoices evidencing sales to Borrower by Hell▇▇ ▇▇▇toring Clients.