Skipped Payment definition

Skipped Payment has the meaning set forth in Section 2.2(a).
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Skipped Payment has the meaning assigned in Section 5.08(b).
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Examples of Skipped Payment in a sentence

  • However, Interest Charges will continue to accrue on the unpaid balance of your Account during the Skipped Payment Period (other than balances not subject to interest during the Skipped Payment Period, as described in this Agreement).

  • At the end of the Skipped Payment Period, your obligation to make the Minimum Payment due for the next Billing Cycle will resume.

  • Please note that while the Skip a Payment feature will allow you to avoid making a payment during the Skipped Payment Period, your next Minimum Payment due may be higher than expected since you did not pay down your outstanding balance, or the Interest Charges that accrued, during the Skipped Payment Period.

  • This means you do not have to make any payment for the Skipped Payment Period and you will not be assessed a Late Payment Fee.

  • All other terms of your Account apply during the Skipped Payment Period, including when interest charges begin (as described in section 4 - Interest Charges, subsection D) and any terms applicable to special introductory or promotional offers.

  • No Skipped Payment shall be considered delinquent for purposes of this Agreement or the Credit Agreement, and no Servicer Advance will be required with respect thereto.

  • No Skipped Payment shall be considered delinquent for purposes of this Agreement and no Servicer Advance will be required with respect thereto.

  • Each of the parties acknowledges and agrees that no property or cash consideration of any kind whatsoever has been or shall be given by Lender to Borrower in connection with the Extension or the Skipped Payment or any other amendment to the Note granted herein.

  • For specific fee information, please refer to the SRP Federal Credit Union Skip-A-Pay Terms & Conditions, which will be presented for your review each time you initiate a Skipped Payment through Online or Mobile Banking.

  • In consideration of Lender’s grant of the Extension and the Skipped Payment, its fees incurred in preparing this Amendment and other accommodations set forth herein, Borrower agrees to pay to Lender an extension fee in the amount of $244,800.00 (the “Extension Fee”).

Related to Skipped Payment

  • Reduced payment means a payment that is for less than the amount agreed upon in a subcontract in accordance with its terms and conditions, for supplies and services for which the Government has paid the prime contractor.

  • Deferred Payment means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Required Payment shall have the meaning assigned such term in Section 4.04.

  • Specified Payment means any Permitted Acquisition, Investment, loan, advance, incurrence of or payment with respect to Indebtedness or other transaction made subject to satisfaction of the Payment Conditions or any component thereof.

  • Required Payments means each of the items described in (i) through (xii) of Section 3.4 of the Indenture.