NEW DEBTOR Definition

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NEW DEBTOR is an entity that becomes bound as debtor by a security agreement previously entered into by another entity.

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PROCEEDS, generally in business, is the total amount brought in, e.g. the proceeds of a sale. In insurance, it is the net amount received (as for a check or from an insurance settlement) after deduction of any discount or charges.

INVESTMENT TAX CREDIT is a tax credit in the United States that allows businesses to write-off a portion of the cost of purchasing equipment for business use.

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