Extension of Time for Payment. In order to prevent any accumulation of claims for interest after maturity, the City shall not, directly or indirectly, extend or consent to the extension of the time for the payment of any claim for interest on any of the Bonds and shall not, directly or indirectly, be a party to the approval of any such arrangement by purchasing or funding said claims for interest or in any other manner. In case any such claim for interest shall be extended or funded, whether or not with the consent of the City, such claim for interest so extended or funded shall not be entitled, in case of default hereunder, to the benefits of this Agreement, except subject to the prior payment in full of the principal of all of the Bonds then Outstanding and of all claims for interest which shall not have been so extended or funded.
Extension of Time for Payment. In order to prevent any accumulation of claims for interest after maturity, the District will not, directly or indirectly, extend or consent to the extension of the time for the payment of any claim for interest on any of the Bonds and will not, directly or indirectly, approve any such arrangement by purchasing or funding said claims for interest or in any other manner. In case any such claim for interest shall be extended or funded, whether or not with the consent of the District, such claim for interest so extended or funded shall not be entitled, in case of default hereunder, to the benefits of this Agreement, except subject to the prior payment in full of the principal of all of the Bonds then Outstanding and of all claims for interest which shall not have so extended or funded.
Extension of Time for Payment. In order to prevent any accumulation of claims for interest after maturity, the District shall not, directly or indirectly, extend or consent to the extension of the time for the payment of any claim for interest on any of the Bonds and Additional Bonds and shall not, directly or indirectly, be a party to the approval of any such arrangement by purchasing or funding said claims for interest or in any other manner. In case any such claim for interest shall be extended or funded, whether or not with the consent of the District, such claim for interest so extended or funded shall not be entitled, in case of default hereunder, to the benefits of this Agreement, except subject to the prior payment in full of the principal of all of the Bonds and Additional Bonds then Outstanding and of all claims for interest which shall not have been so extended or funded. Nothing in this section shall be deemed to limit the right of the District to issue bonds for the purpose of refunding any Outstanding Bonds and Additional Bonds, and such issuance shall not be deemed to constitute an extension of maturity of the Bonds and Additional Bonds.
Extension of Time for Payment. If the time for payment of any obligation, indebtedness or liability of the Applicant to Issuer shall be extended by any law relating to obligations payable on Sundays or holidays, such extended time shall be included in the computation of interest or discount.
Extension of Time for Payment. In the event a Put Exercise Notice is delivered by any Lender (an "Initial Put Exercise Notice"), and one or more other Lenders delivers a Put Exercise Notice during the period of three Business Days immediately following the Initial Put Exercise Notice (the "Joinder Period"), then the times specified in clauses (i) and (ii) of subsection (a) of this Section 7.2 shall be extended by three days and three Business Days, respectively, and all payments by the Borrower to Lenders delivering Put Exercise Notices prior to the end of the Joinder Period shall be made contemporaneously and Pro Rata as to such Lenders, provided, that no Put Exercise Notice which is given during a Joinder Period shall be an Initial Put Exercise Notice, nor shall its delivery give rise to a separate Joinder Period.
Extension of Time for Payment. In order to prevent any accumulation of claims for interest after maturity, the Town shall not, directly or indirectly, extend or consent to the extension of the time for the payment of any claim for interest on any of the Reassessment Bonds and shall not, directly or indirectly, be a party to the approval of any such arrangement by purchasing or funding said claims for interest or in any other manner. In case any such claim for interest shall be extended or funded, whether or not with the consent of the Town, such claim for interest so extended or funded shall not be entitled, in case of default hereunder, to the benefits of this Agreement, except subject to the prior payment in full of the principal of all of the Reassessment Bonds then Outstanding and of all claims for interest which shall not have so extended or funded.
Extension of Time for Payment. In order to prevent any accumulation of claims for interest after maturity, the School District shall not, directly or indirectly, extend or consent to the extension of the time for the payment of any claim for interest on any of the Bonds and shall not, directly or indirectly, be a party to the approval of any such arrangement by purchasing or funding said claims for interest or in any other manner. In case any such claim for interest shall be extended or funded, whether or not with the consent of the School District, such claim for interest so extended or funded shall not be entitled, in case of default hereunder, to the benefits of this Agreement, except subject to the prior payment in full of the principal of all of the Bonds then Outstanding and of all claims for interest which shall not have been so extended or funded.
Extension of Time for Payment. Effective as of the date hereof, (a) the date for payment of all amounts due and payable under the Promissory Note shall be extended to April 3, 2007 (with interest thereon continuing until the date of payment), and (b) any breach of, or default under, the Supplemental Note (as defined in Section 3 hereof) shall constitute an Event of Default under the Promissory Note which shall cause all amounts due under the Promissory Note to be accelerated and to immediately become due and payable on and as of the date of any such breach or default under the Supplemental Note. Except as modified herein, all terms and conditions of the Promissory Note are hereby reaffirmed and confirmed and shall remain in full force and effect.
Extension of Time for Payment. The Authority will not directly or indirectly extend or assent to the extension of the maturity of the Loan or the time of payment of any or claims for interest by the purchase or funding of the Loan or claims for interest or by any other arrangement. In case the maturity of the Loan or the time of payment of any such claims for interest shall be extended, the Loan or claims for interest shall not be entitled, in case of any default hereunder, to the benefits of this Loan Agreement, except subject to the prior payment in full of the principal of the Loan and of all claims for interest thereon that shall not have been so extended. Nothing in this Section shall be deemed to limit the right of the Authority to issue bonds for the purpose of refunding the Loan, and such issuance shall not be deemed to constitute an extension of maturity of the Loan.
Extension of Time for Payment. Notwithstanding the provisions in the policy, the insurers may extend the time for payment of the premium or waive any of the conditions precedent to the continuance of the risk, and even after the policy has lapsed the insurers may be held to have revived the insurance upon the same terms by any word or act which leads the assured to believe that the insurers have reassumed the risk. Findings and Analysis [30] The Court being guided by the authorities cited on how to apply Part 15 must recall that it cannot at this juncture conduct a mini trial but nonetheless it must in this instance examine the pleadings, documents disclosed and witness statements before it to ascertain the evidence in the case and perhaps further evidence that might or could be adduced. [31] The Court is also to bear in mind the specialty nature of contracts for insurance. [32] The Claimant does not claim to have based its position on an automatic renewal clause in its first policy of 2013-2014 with the Defendant and there was no such clause. Rather the Claimant says that based on an oral agreement for renewal, it renewed the policy. There were no particulars such as date and time stated on when the oral agreement was made. It is understood that the terms were to be the same. [33] It is a fact that the Claimant did send a letter of invitation to renew the policy to the Defendant but there was no evidence that the Defendant ever responded to the letter. The Claimant’s position is that there was an oral agreement. [34] Even if the Court accepts that there was an oral agreement, it is a fact that while the Claimant did send the Defendant a credit agreement signed by the Claimant’s officer and for execution by her for the renewal period 2014 – 2015, the Defendant never signed it. [35] It is a fact that while the Claimant alleged that it had renewed the policy for 2014 – 2015, it was never disclosed same with its pleadings or witness statement. It was never produced not even on the Court’s order. Under further order to the Antigua Commercial Bank (the Bank) a copy of a “General Household Insurance Policy” was disclosed under a supplemental list of documents filed 7th June 2017. [36] As pointed out before, the Renewed Property Insurance Policy Schedule disclosed by the Defendant had an date issue of 11th February 2015 – i.e. A date 2 months before its expiration at 15th April 2015, and 2 ½ months before the suit was filed. The Claimant’s copy of the identical document as disclosed was unsign...
