Secured Creditor definition
Examples of Secured Creditor in a sentence
You may note that in case the Sale proceeds of such sale of the secured asset are not sufficient to cover the entire outstanding dues of the secured creditor, then you all are jointly and severally liable to pay the amount of such shortfall to the Secured Creditor.
No notice to or demand on any Pledgor in any case shall entitle it to any other or further notice or demand in similar or other circumstances or constitute a waiver of any of the rights of the Pledgee or any other Secured Creditor to any other or further action in any circumstances without notice or demand.
Notice is hereby given to the public in general and in particular to the Borrowers, Co borrowers and Guarantors that the below described immovable property mortgaged to the Secured Creditor, the Symbolic possession of which has been taken by the Authorised Officer of Cholamandalam Investment and Finance Company Limited, the same shall be referred herein after as Cholamandalam Investment and Finance Company Limited.
List of encumbrances known to Bank: The Secured Assets are sold strictly on “As Is Where Is Basis”, “As Is What Is Basis”, “Whatever There Is Basis” and “No Recourse Basis” with all known and unknown encumbrances (except the encumbrances and liabilities to the Secured Creditor in respect of the financial facilities including interest thereon as against the Schedule Property).
Each Mortgage Loan set forth on Schedule C to this Exhibit 2 (each, a "Schedule C Loan") is the subject of a Secured Creditor Impaired Property Policy, issued by the issuer set forth on Schedule C (the "Policy Issuer") and effective as of the date thereof (the "Environmental Insurance Policy").