Grace Period definition

Grace Period means the specified period of time immediately following the premium due date during which a payment can be made to renew or continue a policy in force without loss of continuity benefits such as waiting periods and coverage of pre-existing diseases. Coverage is not available for the period for which no premium is received.
Grace Period means the 30-day period following expiration of a license when the license is still considered to be active. In order to renew a license during the grace period, a licensee is required to pay a late fee.
Grace Period as used in subsection (b) hereinabove means the period prior to the first Principal Payment Date in accordance with the amortization schedule set forth in Schedule 2 to this Loan Agreement.

Examples of Grace Period in a sentence

  • Any Hospitalisation as a result of Accident/ disease/ claim under Section I (Critical Illness), Section II (Personal Accident) and/ or Section III (Loss of Job) of the policy contracted during the Grace Period will not be admissible under the Policy.

  • The Grace Period allows a Swap-free Account to hold positions overnight without being charged any commission during this period.

  • You further agree that commission-free Grace Period apply for all symbols except for exotic FX, crypto currencies and stocks.

  • Once the Grace Period is finished, all symbols will be charged commission.

  • In case of Our own Renewal a Grace Period of 30 days is permissible and the Policy will be considered as continuous for the purpose of waiting periods applicable under the policy.

More Definitions of Grace Period

Grace Period shall have the meaning assigned to such term in Section 11(a).
Grace Period means the time granted by the insurer from the due date for the payment of premium, without any penalty / late fee, during which the policy is considered to be in-force with the risk cover without any interruption as per the terms of this policy.
Grace Period means a period of 15 (Fifteen) days from the due date of the unpaid Premium for monthly Premium payment mode and 30 (Thirty) days from the due date of unpaid Premium for all other Premium payment modes;
Grace Period means the time granted by Us from the due date for the payment of Installment Premium, without any penalty or late fee, during which time the Policy is considered to be in In-force Status with the risk cover without any interruption, as per the terms & conditions of the Policy. The Grace Period for payment of the Installment Premium is 15 days, where the Policyholder pays the premium on a monthly basis and 30 days in all other cases.
Grace Period means the period of time afforded under N.J.S.A. 13:1D-125 et seq., commonly known as the Grace Period Law, for a person to correct a minor violation in order to avoid imposition of a penalty that would be otherwise applicable for such violation.
Grace Period means a period of fifteen (15) days for a monthly Premium Payment Frequency and thirty (30) days for other than monthly Premium Payment Frequency, from the due date of the Regular Premium payment.