Excess Payment Period definition
Excess Payment Period means the period beginning on the 16th day of each month and ending on the 15th day of the immediately following month.
Examples of Excess Payment Period in a sentence
On or before each Required Payment Date, a certificate prepared as of the close of business on the last day of the Excess Payment Period ending prior to such Required Payment Date, executed by a Responsible Officer of the Borrower, setting forth in reasonable detail (I) the Total Portfolio Net Receipts for such Excess Payment Period, and (II) the Excess Payment Accrued Amount on such Required Payment Date.