Overdue Payment shall have the meaning specified in Section 4.03(a).

Overdue Payment shall have the meaning specified in Section 4.03(a) of the Sale and Servicing Agreement.

Overdue Payment. With respect to a Distribution Date and to a Receivable, all payments received during the related Monthly Period in excess of any Supplemental Servicing Fees, to the extent of the Outstanding Monthly Advances relating to such Receivable. Owner: For purposes of the Purchase Agreement, the Pooling Agreement and the Servicing Agreement, the “Owner” of a Receivable means (i) NFRRC until the execution and delivery of the Further Transfer and Servicing Agreements and (ii) thereafter, the Issuer; provided, that NFC or NFRRC, as applicable, shall be the “Owner” of any Receivable from and after the time that such Person shall acquire such Receivable, whether pursuant to Section 5.04 of the Purchase Agreement, Section 2.08 of the Servicing Agreement, any other provision of the Further Transfer and Servicing Agreements or otherwise.

Examples of Overdue Payment in a sentence

In the event of non-receipt of minimum amount due by the payment date, an Overdue payment charge will be charged to the Card Account.
Overdue payment obligation: Any financial debt outstanding to the University where the payment term has expired.
Overdue payment of any instalment inclusive of profit in any of the above Facility may result in cancellation of the Facility.
Overdue payment is recorded as arrear after 90 days, whereas with regard personnel payment and payroll system, it is the sixth days of the following month (as noted in PI-23 the salaries are paid by the fifth day of the following month).
Overdue payment by the Buyer shall be subject to a late payment charge at the rate of two percent (2%) per month or the maximum rate permissible under the applicable law.

More Definitions of Overdue Payment

Overdue Payment means, with respect to any Receivable (other than an Administrative Receivable or a Warranty Receivable), payments made by or on behalf of the Obligor which are not Supplemental Servicing Fees and therefor shall be applied first to reimburse the Servicer for Outstanding Advances made with respect to such Receivable pursuant to Section 5.03(a).

Overdue Payment means, with respect to a Collection Period, all payments due in a prior Collection Period that the Servicer receives from or on behalf of an Obligor during such Collection Period, including any Servicing Charges.

Overdue Payment. With respect to a Due Period and a Delinquent Contract, all payments due in a prior Due Period that the Servicer receives from or on behalf of an Obligor during the related Due Period on such Delinquent Contract, including any Servicing Charges.

Overdue Payment. For any waiting period for payment of wages different from the period provided for in this collective agreement, the employee shall receive compensation equal to 2 hours straight time pay at his wage rate for each working day overdue, up to a maximum equal to the wages owing to him. However, in the event of a force majeure, the proof of which is incumbent upon the employer, the employee shall not receive such compensation. For the purpose of this article, any delay that is caused by the employer, an employee thereof or a defect in its material or equipment does not constitute a force majeure.

Overdue Payment means, with respect to a Remittance Period, all payments due in a prior Remittance Period that the Servicer receives from or on behalf of an Obligor during such Remittance Period, including any Servicing Charges.