Due for Payment definition

Due for Payment means with respect to an Insured Amount, the Distribution Date on which Insured Amounts are due and payable pursuant to the terms of the Agreement.

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Due for Payment means the requirement by the Guarantor to pay any Guaranteed Amounts following the service of a Notice to Pay on the Guarantor,

Due for Payment means, with respect to any Insured Amounts, such amount that is due and payable under the Indenture on the related Payment Date.

Examples of Due for Payment in a sentence

• Payment of Guaranteed Amounts in respect of the Covered Bonds when the same shall become Due for Payment has been unconditionally and irrevocably guaranteed by the Guarantor (the “Covered Bond Guarantee”) in favour of the Bond Trustee (for and on behalf of the Covered Bondholders) following a Covered Bond Guarantee Activation Event pursuant to the terms of the Trust Deed.

• This means that a Series of Covered Bonds having an earlier Final Maturity Date than such Extended Due for Payment Date may start receiving principal repayments in advance of the Series of Extendable Maturity Covered Bonds in respect of which unpaid principal amounts have been deferred until such Extended Due for Payment Date.

• To the extent that the amount available for distribution under the Guarantee Priority of Payments would be insufficient to pay the Scheduled Interest, the Scheduled Principal or the Final Redemption Amount of any Series of Covered Bonds to which an Extended Due for Payment Date applies, the shortfall will be divided amongst all such Series of Covered Bonds on a pro rata and pari passu basis.

• In the case of a Series of Extendable Maturity Covered Bonds, if the principal amounts have not been repaid in full by the Extension Determination Date, then the repayment of unpaid principal amounts shall be deferred until the Extended Due for Payment Date.

• The Extended Due for Payment Dates for different Series of Extendable Maturity Covered Bonds may not be the same.

More Definitions of Due for Payment

Due for Payment means, with respect to any Policy Claim Amounts, such amount as is due and payable pursuant to the terms of the Indenture.

Due for Payment means, (i) with respect to an Insured Amount, the Payment Date on which Insured Amounts are due and payable pursuant to the terms of the Indenture and (ii) with respect to a Preference Amount, the Business Day on which the documentation required by the Insurer has been received by the Insurer.

Due for Payment. With respect to (i) an Insured Amount, the Payment Date on which Insured Amounts are due and payable pursuant to the terms of the Indenture and (ii) a Preference Amount, the Business Day on which the documentation required by the Note Insurer has been received by the Note Insurer.

Due for Payment means, with respect to any Insured Amount, such amount is due and payable pursuant to the terms of the Indenture.

Due for Payment means in relation to any Guaranteed Amount, that the Due Date for such Guaranteed Amount has been reached. For the avoidance of doubt, "Due for Payment" does not refer to any earlier date upon which payment of any Guaranteed Amounts may become due under the Guaranteed Obligations by reason of prepayment (whether mandatory or optional), acceleration of maturity or otherwise.

Due for Payment means, with respect to a Guaranteed Amount (i) prior to the service of a CBC Acceleration Notice, the Scheduled Payment Date in respect of such Guaranteed Amount or, if later, the day which is two (2) Business Days after service of an Issuer Acceleration Notice and a Notice to Pay on the CBC or (ii) after the service of a CBC Acceleration Notice, the date on which the CBC Acceleration Notice is served (or, in either case, if such day is not a Business Day, the first following Business Day).

Due for Payment means with respect to an Insured Payment and any Distribution Date: (i) any shortfall in amounts available in the Distribution Account in respect of the Interest Distribution Amount payable on each Obligation on such Distribution Date; (ii) any Insured Certificate Loss Amount with respect to each Obligation on such Distribution Date; and (iii) on the Final Scheduled Distribution Date (or, with the consent of the Insurer, upon the earlier termination of the Trust pursuant to the terms of the Pooling Agreement) the Certificate Principal Balance of each Obligation after giving effect to any distributions on such Distribution Date (other than distributions of Insured Payments).