Payment Holiday means the period of time that a Borrower under a Loan refrains from making payments of interest and principal on his Loan as expressly permitted by the terms of the Borrower’s Loan;
Payment Holiday means, in respect of any Flexible Mortgage Loan, a period of one or more Monthly Payment Dates when the relevant Borrower under such Mortgage Loan is permitted by the Seller in accordance with the relevant Mortgage Conditions not to make its regular Monthly Payment;
Payment Holiday means the Purchaser is not required to repay any part of the principal sum of the "Specified Mortgage Loan" and to pay any interest thereon for the first 12 months from the day of drawdown. The Purchaser is required to repay the principal sum by way of monthly instalments and pay the interest thereon commencing from the 13th month after drawdown.
Examples of Payment Holiday in a sentence
That the failure of the defendant to make regular and/or timeous payments of the installments in terms of the agreements, was due to the fact that the plaintiff had afforded the defendant a payment holiday in terms of an oral agreement that was concluded between them and that the defendant is therefore not indebted towards the plaintiff in the amounts claimed (“ The Payment Holiday Defence”).
In view of all of the above, I consequently hold the view that the Payment Holiday Defence does not constitute a bona fide defence and that it similarly does not raise an issue for trial.
More Definitions of Payment Holiday
Payment Holiday means a period during which a Borrower may suspend payments under a Loan where the Borrower is permitted under the relevant Mortgage Terms to do so and will therefore not be in breach of the relevant Mortgage Terms; Payment Ledger means the ledger on the GIC Account of such name maintained by the Cash Manager pursuant to the Cash Management Agreement, to record the credits and debits of the Available Revenue Receipts and Available Principal Receipts for application in accordance with the relevant Priority of Payments; Permanent Global Covered Bond means a global covered bond substantially in the form set out in Part 2 of Schedule 2 to the Trust Deed with such modifications (if any) as may be agreed between the Issuer, the Principal Paying Agent, the Bond Trustee and the relevant Dealer(s) or Lead Manager (in the case of syndicated issues), together with the copy of the applicable Final Terms Document annexed thereto, comprising some or all of the Covered Bonds of the same Series, issued by the Issuer pursuant to the Programme Agreement or any other agreement between the Issuer and the relevant Dealer(s) relating to the Programme, the Agency Agreement and the trust presents in exchange for the whole or part of any Temporary Global Covered Bond issued in respect of such Covered Bonds; Person means a reference to any person, individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organisation, governmental entity or other entity of similar nature (whether or not having separate legal personality); Personal Data shall have the same meaning as is assigned to it in the Data Protection Laws; Personal Data Breach means any actual or reasonably suspected breach of security leading to the accidental or unlawful destruction, loss, alteration, unauthorised disclosure of or access to Relevant Personal Data transmitted, stored or otherwise processed; Portfolio means the Initial Portfolio and any New Portfolio acquired by the LLP (other than any Loans which have been redeemed in full or repurchased by the Seller or a New Seller pursuant to Clause 6 of the Mortgage Sale Agreement or otherwise sold by the LLP);
Payment Holiday means a period agreed by the Seller in accordance with the Credit and Collection Policy (and in any event not longer than three months in any calendar year) for which the Debtor's obligation to make any Principal Payments under the relevant Loan Contract is deferred;
Payment Holiday means in respect of a Mortgage Loan, the deferral of the payment of its interest and/or principal instalments in accordance with the application of moratoria provisions from time to time granted to Debtors by any laws, agreements between Italian banking associations and national consumer associations, the Bank of Italy or other regulatory bodies regulations.
Payment Holiday means the Bank may offer you the option of not making a payment or allow you to skip a payment during a specific Statement Cycle. If a Payment Holiday is applied to your account, interest will continue to accrue, but the bank will not impose a late fee. You understand that all terms and conditions set out in this Agreement (including Minimum Monthly Payment and any other respective late fees) will be apply to your next Statement Cycle following a Payment Holiday.
Payment Holiday means a period of time for which you will not be required to continue to make payments towards your Plan, as agreed through us
Payment Holiday means a Borrower's monthly payments being met by applying Overpayments not previously redrawn by way of capitalisation of such monthly payments.
Payment Holiday means Customers choose not to make a Regular Saver Lodgement over a nominated number of months.