Protected Debt definition

Protected Debt. An Unpaid Debt about which You have Told Us owing by a Customer to which We have given a Covered Limit and which Debt falls within such Covered Limit on the basis set out in Condition 3 and in relation to which:- (A) none of Your Promises to Us has been broken; (B) the period for payment is not greater than the Maximum Payment Period; (C) when You Tell Us about the Debt the Customer is not Insolvent and nor has any event occurred which is described in Condition 6.1(E)(x), Condition 6.1(E)(xiii) or in the second sentence of Condition 15.2; (D) the Debt is not to be paid under an irrevocable or confirmed letter of credit; (E) the supply or hire of goods or supply of services to the Customer can all be ended by You by giving less than 3 months’ notice; (F) the Debt is not due from any Government Department, Local Authority or statutory body or agency or any organisation controlled (directly or indirectly) by any such entity; (G) at the time the relevant Protected Event occurs the Debt is more than the Minimum Protection Limit; (H) there has been no material change in the information which You gave to Us at the time of You asking Us to set or alter the Covered Limit and You have not knowingly hidden any material fact which would have influenced Our decision to set or alter the Covered Limit for the Customer; (I) You have not asked Us not to claim payment of any Debt from the Customer; (J) You have not failed to comply with any condition We impose when setting the Covered Limit; (K) an invoice is raised and delivered by You to the Customer (or, where self-billing by the Customer has been permitted by Us, by the Customer to You) within 10 Working Days from the date on which the relevant goods are delivered to the Customer or the relevant services are completed; (L) the Debt is not payable before the delivery or hiring of the goods or provision of the services to which it relates have been completed; (M) You have not Told Us about such Debt separately pursuant to Condition 2.2; (N) non-payment is not caused by:- (i) the effects of radiation, explosion or other hazard/contamination arising from nuclear sources (or other toxic, explosive or other hazardous properties from nuclear sources) or reaction or radioactive contamination or the use, handling or transportation of radioactive materials; (ii) war, invasion, act of a foreign enemy or civil war; (iii) any law which prohibits or prevents the carrying out of the Transaction (if any) or obligation under which the D...
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Protected Debt means a Notified Debt which is within a Debtor Credit Limit.
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Protected Debt. An Unpaid Debt about which You have Told Us owing by a Customer to which We have given a Covered Limit and which Debt falls within such Covered Limit on the basis set out in Condition 3 and in relation to which: (A) none of Your Promises to Us has been broken; (B) the period for payment is not greater than the Maximum Payment Period; (C) when You Tell Us about the Debt the Customer is not Insolvent; (D) the Debt is not to be paid under an irrevocable or confirmed letter of credit;
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Examples of Protected Debt in a sentence

  • If such attempted payment covered more than one Protected Debt the Covered Limit will automatically reduce to the lowest limit for that Customer when We received any Debt Schedule on which any such Protected Debt was included.

  • If a Customer tries to pay a Protected Debt by a method (including a cheque) requiring presentation for payment and payment is refused on first presentation that Customer’s Covered Limit will automatically become as it was when We received the Debt Schedule on which that Protected Debt was included.

  • For each Protected Debt for which no Remittance is received by us the Purchase Price shall be calculated and paid by us in accordance with conditions 8.1 and 8.2.

  • The period initially specified in the Receivables Finance Agreement, after which an Approved Debt (unless it is a Protected Debt) will rank as an Unapproved Debt, but which may be extended by us at our discretion.

  • Santander will use the Conversion Rate on the day Santander credits either the Remittance or the Purchase Price of a Protected Debt to the Sales Ledger.

  • For each Debt (except a Protected Debt) that remains outstanding beyond the end of the Funding Period, the percentage thereof specified in the Receivables Finance Agreement for each period of thirty days or part thereof until it is either discharged, written off or reassigned to you.

  • Provided that no Event of Default shall have occurred we will, at your request and expense, reassign to you any Approved Credit Protected Debt in respect of which we have made a credit entry to the Current Account as referred to in paragraph 3 above.

  • Any Debt (including a Protected Debt) which is not an Unapproved Debt.

  • PWT was established to market Wellington and to achieve economic growth in partnership with other funders.

  • No Credit Protected Debt, the Notified Value of which is the First Loss Amount (if any) or less shall be an Approved Credit Protected Debt and that part of any other Credit Protected Debt which is equal to the First Loss Amount (if any) shall likewise not be Approved.

Related to Protected Debt

  • Protected Disclosure means any communication made in good faith that discloses or demonstrates information that may evidence unethical or improper activity.

  • Protected Property means each property identified on Exhibit A hereto and each property acquired in Exchange for a Protected Property as set forth in Section 2.1(b).

  • Protected record means a record that is classified protected as provided by Section 63G-2-305.

  • Protected Party means a Finance Party which is or will be subject to any liability, or required to make any payment, for or on account of Tax in relation to a sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a Finance Document.

  • Protected Parties means the following Persons: (a) the Debtors; (b) Reorganized BSA; (c) the Related Non- Debtor Entities; (d) the Local Councils; (e) the Contributing Chartered Organizations; (f) the Settling Insurance Companies, including Hartford; and (g) all of such Persons’ Representatives; provided, however, that no Perpetrator is or shall be a Protected Party. Notwithstanding the foregoing, a Contributing Chartered Organization shall be a Protected Party with respect to Abuse Claims only as set forth in the definition of “Abuse Claim.”

  • Exempted Debt means the sum of the following items outstanding as of the date Exempted Debt is being determined (1) Indebtedness of the Company and its Restricted Subsidiaries secured by a Mortgage and not permitted to exist under the Indenture and (2) Attributable Debt of the Company and its Restricted Subsidiaries in respect of all Sale and Leaseback Transactions not permitted under the Indenture.

  • Restricted Debt has the meaning set forth in Section 6.04(b).

  • Protected Person means: (i) the members of the Board; (ii) the Administrator and its Affiliates; (iii) any Member; (iv) any Officer; or (v) any Person who serves at the request of the Board on behalf of the Company as an officer, director, partner, member, stockholder or employee of any other Person.

  • Permitted Debt means any Financial Indebtedness:

  • Protected Information means PHI provided by CE to BA or created, maintained, received or transmitted by BA on CE’s behalf.

  • Excluded Debt means (i) intercompany Indebtedness between or among any Credit Parties and any of their Subsidiaries, (ii) credit extensions under the Revolving Credit Facility and the Existing Target Credit Agreement (and any refinancing, renewal, refunding, extension or replacement of either or both thereof in an aggregate principal amount not to exceed the refinanced, renewed, refunded, extended or replaced funded amount thereof plus accrued and unpaid interest or premiums thereon and fees and expenses incurred in connection therewith plus (without duplication) an amount equal to any commitment unutilized thereunder plus $500,000,000), (iii) any refinancing, renewal, refunding, extension or replacement of any Indebtedness existing on the Effective Date in an aggregate principal amount not to exceed the refinanced, renewed, refunded, extended or replaced amount plus accrued and unpaid interest or premiums thereon and fees and expenses incurred in connection therewith, so long as any such Indebtedness so refinanced, renewed, refunded, extended or replaced after the Closing Date shall have a maturity prior to the Maturity Date, (iv) any Indebtedness issued or incurred in the ordinary course of business for working capital purposes in an aggregate amount not to exceed $500,000,000, (v) any commercial paper backed by the Revolving Credit Facility or the Existing Target Credit Agreement (or under any facilities refinancing, renewing, refunding, extending or replacing the Revolving Credit Facility and/or the Existing Target Credit Agreement and meeting the requirements set forth in clause (ii) above), (vi) any borrowings under this Credit Agreement or the Term Loan Facility, and (vii) other Debt not included in clauses (i) through (vi) above in an outstanding aggregate principal amount not to exceed $500,000,000.

  • Company Indebtedness means all indebtedness of the Company (including without limitation, any loans, advances, letters of credit, bank overdrafts, capital lease obligations and all other indebtedness of any kind including interest, principal and fees).

  • Protected cell means an identified pool of assets and liabilities of a protected cell company segregated and insulated as provided under this chapter from the remainder of the protected cell company’s assets and liabilities.

  • Additional Debt With respect to any Mortgage Loan, any debt owed by the related Mortgagor to a party other than the lender under such Mortgage Loan that is secured by the related Mortgaged Property.

  • Secured Longer-Term Indebtedness means, as at any date, Indebtedness for borrowed money (other than Indebtedness hereunder) of the Borrower (which may be Guaranteed by Subsidiary Guarantors) that (a) has no amortization (other than for amortization in an amount not greater than 1% of the aggregate initial principal amount of such Indebtedness per annum (or an amount in excess of 1% of the aggregate initial principal amount of such Indebtedness per annum on terms mutually agreeable to the Borrower and the Required Lenders)) or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date; (b) is incurred pursuant to documentation containing (i) financial covenants, covenants governing the borrowing base, if any, covenants regarding portfolio valuations, and events of default that are no more restrictive in any respect than those set forth in this Agreement (other than, if such Indebtedness is governed by a customary indenture or similar instrument, events of default that are customary in indentures or similar instruments and that have no analogous provisions in this Agreement or credit agreements generally) (provided that, upon the Borrower’s request, this Agreement will be deemed to be automatically amended (and, upon the request of the Administrative Agent or the Required Lenders, the Borrower and the Lenders shall enter into a document evidencing such amendment), mutatis mutandis, to make such covenants more restrictive in this Agreement as may be necessary to meet the requirements of this clause (b)(i)) and (ii) other terms (other than interest and any commitment or related fees) that are no more restrictive in any material respect than those set forth in this Agreement; and (c) ranks pari passu with the obligations under this Agreement and is not secured by any assets of any Person other than any assets of any Obligor pursuant to the Security Documents and the holders of which, or the agent, trustee or representative of such holders on behalf of and for the benefit of such holders, have agreed to be bound by the provisions of the Security Documents in a manner reasonably satisfactory to the Administrative Agent and the Collateral Agent. For the avoidance of doubt, (a) Secured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Secured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Secured Longer-Term Indebtedness shall be subject to Section 6.12.

  • Protected Purchaser has the meaning specified in Section 8-303 of the UCC.

  • Contribution Indebtedness means Indebtedness or Disqualified Stock of the Company or any Restricted Subsidiary in an aggregate principal amount not greater than the aggregate amount of cash contributions (other than the proceeds from the issuance of Disqualified Stock or any cash contribution by an Issuer or a Restricted Subsidiary) made to the capital of the Company or a Restricted Subsidiary after the Issue Date (whether through the issuance of Capital Stock or otherwise); provided that such Contribution Indebtedness is incurred within 180 days after the making of the related cash contribution.

  • Permitted Prior Working Capital Lien means, with respect to any borrower under a Bank Loan, a security interest to secure a senior facility for such borrower and/or any of its parents and/or subsidiaries; provided that (i) such Bank Loan has a second priority lien on the collateral that is subject to the first priority lien of such senior facility (or a pari passu lien on such collateral), (ii) such senior facility is not secured by any other assets (other than a pari passu lien or a second priority lien, subject to the pari passu or first priority lien of the Bank Loan) and does not benefit from any standstill rights or other agreements (other than customary rights) with respect to any other assets and (iii) the maximum outstanding principal amount of such senior facility is not greater than 15% of the aggregate enterprise value of such borrower (as determined at the time of closing of the transaction, and thereafter an enterprise value for such borrower determined in a manner consistent with the valuation methodology applied in the valuation for such borrower as determined by the Advisor (so long as it has the necessary delegated authority) or the Borrower’s board of directors (or the appropriate committee thereof with the necessary delegated authority) in a commercially reasonable manner, including the use of an Approved Third-Party Appraiser in the case of Unquoted Investments).

  • Intercompany Indebtedness means Indebtedness of Company or any of its Subsidiaries which is owing to Company or any of its Subsidiaries.

  • Protected Health Information (PHI) means individually identifiable health information created, received, maintained or transmitted by Business Associate on behalf of a health care component of the Covered Entity that relates to the provision of health care to an Individual; the past, present, or future physical or mental health or condition of an Individual; or the past, present, or future payment for provision of health care to an Individual. 45 CFR 160.103. PHI includes demographic information that identifies the Individual or about which there is reasonable basis to believe can be used to identify the Individual. 45 CFR 160.103. PHI is information transmitted or held in any form or medium and includes EPHI. 45 CFR 160.103. PHI does not include education records covered by the Family Educational Rights and Privacy Act, as amended, 20 USCA 1232g(a)(4)(B)(iv) or employment records held by a Covered Entity in its role as employer.

  • Restricted Debt Payment has the meaning set forth in Section 6.04(b).

  • Permitted Acquisition Indebtedness means Indebtedness (including Disqualified Stock) of the Company or any of the Restricted Subsidiaries to the extent such Indebtedness was Indebtedness:

  • 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.

  • Current Asset Collateral means all the “ABL Priority Collateral” as defined in the ABL Intercreditor Agreement.

  • Acquisition Indebtedness means any Indebtedness of the Loan Parties that has been issued for the purpose of financing, in part, the acquisition of an Acquired Entity or Business.

  • Protected Health Information or PHI means any information, whether oral or recorded in any form or medium: (i) that relates to the past, present or future physical or mental condition of an individual; the provision of health care to an individual; and (ii) that identifies the individual or with respect to which there is a reasonable basis to believe the information can be used to identify the individual, and shall have the meaning given to such term under the Privacy Rule, including, but not limited to, 45 C.F.R. Section 164.501. Protected Health Information includes Electronic Protected Health Information [45 C.F.R. Sections 160.103, 164.501].