Default on Payment definition
Default on Payment means failure to pay a Debt or its instalment when due as stated in the Securing agreement.
Default on Payment. If ISI's Customers, or any of them, fail to pay any fees when due and payable, the nonpaying ISI Customers shall be in default of this Agreement. At its option, RTC may, immediately in its sole discretion, suspend or terminate the Services to be delivered to the defaulting ISI Customers under this Agreement or any Services Confirmation Form, and said suspension or termination by RTC shall be deemed for cause. In addition, RTC shall be entitled to apply any monies it holds by way of deposit or prepayment by the Client in satisfaction or diminution of the outstanding payment.
Default on Payment means failure to pay a Debt or its instalment when due stated in the Loan Agreement.
More Definitions of Default on Payment
Default on Payment. If Client fails to pay any fees when due and payable, Client shall be in default of this Agreement. At its option, RTC may, immediately in its sole discretion, suspend or terminate the Services to be delivered by it under this Agreement or any Services Order Form, and said suspension or termination by RTC shall be deemed for cause. In addition, RTC shall be entitled to apply any monies it holds by way of deposit or prepayment by the Client in satisfaction or diminution of the outstanding payment.