Current in Payment Clause Samples
The "Current in Payment" clause requires that a party must be up to date with all required payments under the agreement. In practice, this means that the party cannot be in default or have any overdue amounts outstanding at the time certain rights or benefits are exercised, such as receiving services or invoking remedies. This clause ensures that parties remain financially compliant throughout the contract, thereby reducing the risk of disputes and maintaining the integrity of the contractual relationship.
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Current in Payment. As of the Cut-Off Date, such Contract is no more than 30 days delinquent in payment as to all or any portion of any installment of Monthly P&I.
Current in Payment. As of the (A) Closing Date (with respect to each Initial Contract) and (B) related Subsequent Transfer Date (with respect to each related Subsequent Contract), such Contract is no more than 30 days delinquent in payment as to all or any portion of any installment of Monthly P&I.
Current in Payment. As of the Statistical Calculation Date, such Contract is no more than 30 days delinquent in payment as to all or any portion of any installment of Monthly P&I.
Current in Payment. The Contract is not a Delinquent Receivable or Defaulted Receivable as of such date. Except with respect to Receivables transferred on the Initial Closing Date, no Contract is more than 30 days past due as of the related Closing Date.
Current in Payment. As of the related Closing Date, the Contract is not a Delinquent Contract.