Examples of Default Period in a sentence
The Protracted Default Period is the period referred to in the Schedule and which commences on the original due date for payment of an Insured Debt under the relevant contract of sale or, if that original due date is postponed, such postponed due date.
The Claimable Event Date in respect of Protracted Default will be the date of the expiry of the Protracted Default Period.
Thus, by way of example, an Unsecured Municipal Market Participant with $2,000 of ISO Charges and no Payments on its Statement for the Default Period and an Unsecured Municipal Market Participant with $1,000 of Charges and $1,000 of Payments for ISO Charges on its Statement for the Default Period would be allocated an equal share of the unpaid Unsecured Municipal Default Amount under this clause (h)(ii).
Each Covered Entity that received a Statement for the Default Period shall have the amount of its Invoice or Remittance Advice in the billing period immediately following the Default Period adjusted as necessary to reflect its obligation for the Uncovered Default Amount remaining unpaid under this clause (j)(ii).
Each Unsecured Municipal Market Participant that received a Statement for the Default Period shall have the amount of its Invoice or Remittance Advice in the billing period immediately following the Default Period adjusted as necessary to reflect its obligation for the Unsecured Municipal Default Amount remaining unpaid under this clause (h)(ii).