Force Majeure Assistance Program definition
Force Majeure Assistance Program means, with respect to any Force Majeure Event, any program offered by the servicer, in accordance with its servicing procedures, to obligors affected by such Force Majeure Event, whereby, with respect to any receivable, an obligor affected by such Force Majeure Event may elect, during the related Force Majeure Covered Period, to have his or her payment obligations under the related credit agreement deferred or collection efforts with respect thereto forborne, in each case, during a Force Majeure Assistance Period, and subsequently paid in one or more installments on one or more of the remaining payment dates under such credit agreement occurring after the end of such Force Majeure Assistance Period (in addition to amounts otherwise owing on such payment dates) or on one or more additional payment dates occurring subsequent to the originally scheduled payment dates under such credit agreement.
Force Majeure Assistance Program means, with respect to any Force Majeure Event, any program offered by the Servicer, in accordance with its Customary Servicing Practices, to Obligors affected by such Force Majeure Event, whereby, with respect to any Receivable (including Transferred Receivable), an Obligor affected by such Force Majeure Event may elect, during the related Force Majeure Covered Period, to have his or her payment obligations under the related Credit Agreement deferred or collection efforts with respect thereto forborne, in each case, during a Force Majeure Assistance Period, and subsequently paid in one or more installments on one or more of the remaining payment dates under such Credit Agreement occurring after the end of such Force Majeure Assistance Period (in addition to amounts otherwise owing on such payment dates) or on one or more additional payment dates occurring subsequent to the originally scheduled payment dates under such Credit Agreement.
Force Majeure Assistance Program means, with respect to any Force Majeure Event, any program offered by the Servicer, in accordance with its Customary Servicing Practices, to Obligors affected by such Force Majeure Event, whereby, with respect to any Receivable (including Transferred Receivable), an Obligor affected by such Force Majeure Event may elect, during the related Force Majeure Covered Period, to have his or her payment obligations under the related Contract deferred or collection efforts with respect thereto forborne, in each case, during a Force Majeure Assistance Period, and subsequently paid in one or more 740293053.3 21668437 installments on one or more of the remaining payment dates under such Contract occurring after the end of such Force Majeure Assistance Period (in addition to amounts otherwise owing on such payment dates) or on one or more additional payment dates occurring subsequent to the originally scheduled payment dates under such Contract.
Examples of Force Majeure Assistance Program in a sentence
T-Mobile PCS Holdings shall take no action, nor omit to take any action, which could reasonably be expected to materially impair the rights of the Owners in the Transferred Receivables or materially adversely affect the collectability of the Transferred Assets, except with respect to any Force Majeure Assisted Receivable in accordance with the Force Majeure Assistance Program related thereto.