Payment Deferral definition

Payment Deferral means a Principal Payment Deferral and/or Interest Payment Deferral, requested by the Recipient and activated by the Association pursuant to the provisions of the Financing Agreement.

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Payment Deferral shall have the meaning set forth in Section 2.4(a).

Payment Deferral has the meaning assigned to such term in Section 4.13(g)(ii).

Examples of Payment Deferral in a sentence

• Notwithstanding anything in this Agreement to the contrary, upon a conversion of a Series 1 Preferred Unit pursuant to Section 4.13(c), the Cumulative Series 1 Preferred Unit Arrearage (but not the Payment Deferral) for such Series 1 Preferred Unit shall be converted into Class A Common Units pursuant to Section 4.13(c)(ii) and thereafter extinguished.

• If the Servicer grants an Optional Payment Deferral pursuant to Section 3.2(c) and such deferral causes the term of the applicable Receivable to extend beyond the last day of the Collection Period immediately preceding the Final Scheduled Distribution Date, the Servicer shall be obligated to purchase the applicable Receivable on the Deposit Date related to the Collection Period during which the Servicer grants such Optional Payment Deferral.

• Upon the termination of any Interest Payment Deferral Period with respect to any series of Securities and upon the payment of all Deferred Interest then due, the Company may commence a new Interest Payment Deferral Period with respect to such series of Securities, subject to the foregoing requirements.

• Such interest shall accrue from the respective dates when the relevant amounts are deferred after the Interest Payment Deferral is activated and shall be payable on the remaining Payment Dates after the Deferral Period.

• In the event of an early termination of such Currency Conversion prior to the end of its Conversion Period as a result of the Payment Deferral, the provisions of Section 4.06(b) of the General Conditions shall apply.

More Definitions of Payment Deferral

Payment Deferral means a Principal Payment Deferral and/or Interest Payment Deferral, requested by the Recipient and activated by the Association pursuant to the provisions of the Financing Agreement.”

Payment Deferral means, with respect to a Receivable and a related Account Debtor, the deferral of a scheduled installment payment from such Account Debtor’s next Scheduled Payment Date to a new Scheduled Payment Date, which follows the Scheduled Payment Date that theretofore had been the final scheduled maturity date of such Receivable.

Payment Deferral means an arrangement made on or after 9 April 2020, under or in anticipation of this guidance coming into force, under which a firm permits the customer to make no payments or reduced payments under their regulated credit agreement for a specified period without considering them to be in arrears.

Payment Deferral means, with respect to a Receivable and a related Obligor, the deferral of a scheduled installment payment from such Obligor’s next Obligor Due Date to a new Obligor Due Date, which follows the Obligor Due Date that theretofore had been the final scheduled maturity date of such Receivable.

Payment Deferral shall have the same meaning given to such term in the Receivables Purchase Agreement.

Payment Deferral means, with respect to a Serviced Receivable and a related Obligor, the deferral of a scheduled installment payment from such Obligor’s next Obligor Due Date to a new Obligor Due Date, following the Obligor Due Date that theretofore had been the final scheduled maturity date of such Serviced Receivable. The period between the original final scheduled maturity date and such new Obligor Due Date shall be no longer than ninety-five (95) calendar days.

Payment Deferral means an arrangement made on or after 27 April 2020 under which a firm permits the customer to make no payments or reduced payments under their regulated credit agreement for a specified period, or extends the period until payments are due, without considering them to be in arrears. (For Pawnbroking arrangements, please refer to paragraph 1.19 and for BNPL arrangements to 1.20).