Payment Extensions Sample Clauses

Payment Extensions. ▇▇▇▇▇▇▇▇▇ agrees that Beneficiary may, from time to time, extend the time of payment of the whole, or any part, of the indebtedness of Obligor without in any way releasing or discharging Guarantor from its obligations hereunder.

Payment Extensions. In connection with Related Electric Power Services performed by BP under this Agreement, BP will be deemed to have provided to IDT an Invoice for immediate payment in respect of any payments made to the ISO. If funds on deposit in the Collateral Account are not sufficient to pay the amount of such Invoice, then BP shall, at IDT’s request, extend the payment date for such deficient amount for a period of 30 days after the extension is made (“Permitted Extension Period”) to the extent reasonably necessary to enable funds to be deposited into the Collateral Account to cover such deficient amount (any such payment extension, a “Payment Extension”). Table of Contents (a) Notwithstanding the foregoing, BP shall not be required to give any such Payment Extension if: (i) after giving effect to such Payment Extension, (A) a Collateral Requirement of IDT would arise under the Master Netting Agreement or (B) the total aggregate amount of Payment Extensions outstanding would exceed * to IDT under any POR Program; (ii) the insufficiency of funds in the Collateral Account is due to Customers that are not covered by a POR Program failing to make direct payments to IDT when due as of the date IDT requests the Payment Extension; (iii) such insufficiency of funds in the Collateral Account has been caused, or contributed to, by actions or inactions on the part of IDT or any Affiliates of IDT; or (iv) the conditions that must be satisfied prior to BP’s entering into any Direct Transaction have not been fulfilled to the satisfaction of, or have not been waived by, BP as of the date IDT requests such Payment Extension. (b) To the extent not reimbursed from future funds in the Collateral Account, IDT will pay all amounts subject to a Payment Extension in full on the last day of the applicable Permitted Extension Period. (c) All amounts subject to a Payment Extension shall bear interest from the original payment due date for the amount included in the Payment Extension until the date when the amount is paid in full at a per annum interest rate of LIBOR plus * basis points. Such accrued interest due on the Payment Extension amount shall be paid to BP on the earlier of the date on which the amount included in the Payment Extension is paid in full or the last day of the applicable Payment Extension Period. (d) Failure to pay the Payment Extension amount, including accrued interest, as and when due would constitute an Event of Default.

Payment Extensions. As of the Cut-off Date, no obligor on any Receivable was granted a COVID-19 related payment extension or modification with respect to such Receivable during the period from and including March 16, 2020 to and including the Cut-off Date. Data tape Receivable File Listing of U.S. Ag and Construction retail note contracts granted a payment extension or modification between March 16, 2020 to and including the Cut-off Date i) Review the data tape and confirm the Receivable was not included within the listing of retail note contracts granted a modification or a payment extension between March 16, 2020 and the Cut-off Date ii) Review the Receivable File and confirm the Receivable was not included within the listing of retail note contracts granted a modification or a payment extension between March 16, 2020 the Cut-off Date iii) If (i) and (ii) are confirmed, then Test Pass Table of Contents

Payment Extensions. To extend the time of payment of any obligation;