Deferred Payment Plan Clause Samples
A Deferred Payment Plan clause establishes an arrangement where payment for goods or services is postponed to a future date or spread over a series of installments. Typically, this clause outlines the payment schedule, any applicable interest or fees, and the consequences of late payments. By allowing buyers to pay over time rather than upfront, the clause facilitates transactions that might otherwise be unaffordable and helps manage cash flow for both parties.
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Deferred Payment Plan. If you are unable to pay your bill you may qualify for a deferred payment plan, unless: • You have received more than two termination/disconnection notices during the past 12 months; or • You have taken service from NEC Co-op Energy for less than three months and you lack sufficient credit or a satisfactory payment history with your previous electric provider. This plan may require you to make an initial percentage payment of the outstanding balance to initiate the agreement, with the remaining balance paid in equal installments. If you have received a disconnection notice and expressed an inability to pay, any deferred payment plan will include an initial payment not to exceed 25% of the delinquent balance and will allow the remaining balance to be paid in equal installments over at least three billing cycles. A deferred payment plan may include a 5% penalty for late payment but does not include a finance charge. The Member or NEC Co-op Energy may initiate one renegotiation of the deferred payments plan if the member’s economic or financial circumstances change substantially during the time of the deferred payment plan. By entering into a deferred payment plan, NEC Co-op Energy may put a switch-hold on your account. A switch-hold means you will not be able to buy electricity form other companies until this past due amount is paid. The switch-hold will be removed after final payment of this past due amount is processed. While a switch-hold applies, if you are disconnected for not paying or if the terms of the deferred payment plan are not fulfilled, your electric service agreement with NEC Co-op Energy may be terminated or your electric service disconnected, whichever is applicable, after proper ▇▇▇▇▇▇.▇▇▇ will need to pay NEC Co-op Energy to get your electricity turned back on.
Deferred Payment Plan. If you are unable to pay your bill you may qualify for a deferred payment plan, unless: • You have received more than two termination/disconnection notices during the past 12 months; or • You have taken service from NEC Co-op Energy for less than three months and you lack sufficient credit or a satisfactory payment history with your previous electric provider. This plan may require you to make an initial percentage payment of the outstanding balance to initiate the agreement, with the remaining balance paid in equal installments. If you have received a disconnection notice and expressed an inability to pay, any deferred payment plan will include an initial payment not to exceed 25% of the delinquent balance and will allow the remaining balance to be paid in equal installments over at least three billing cycles. A deferred payment plan may include a 5% penalty for late payment. If the terms of the deferred payment plan are not fulfilled, your electric service agreement with NEC Co-op Energy may be terminated or your electric service disconnected, whichever is applicable, after proper notice.
Deferred Payment Plan. Employees covered by this Collective Agreement may participate in a deferred payment plan which provides for up to one (1) year of self-funded leave as outlined in regulations attached as Appendix "C" of this Collective Agreement. The Employer shall not be required to grant such leave during the same period of time to more than three (3) employees of each bargaining unit covered by this Collective Agreement. If more than three (3) employees from each bargaining unit submit a request for such leave which covers all or part of the same period of time, seniority shall be the determining factor in granting of such leave.
Deferred Payment Plan. An arrangement set out by the Landlord or its preferred credit collection agent in which the Tenant is allowed to defer payments to a specified time in the future to settle any amount owed by the Tenant.
Deferred Payment Plan. The following rent deferral option is hereby agreed to and acknowledged by Resident (Select one option):
Deferred Payment Plan. Under this, lease rentals are deferred for some year (i.e. not paid for few years) and after that it will be paid according to the terms of the contract.
Deferred Payment Plan. If Customer has maintained the account in good standing for the past twelve (12) months, Supplier may agree to a Deferred Payment Plan with Customer to cure any delinquencies on the account and permit the Customer to continue to receive utilities services.
Deferred Payment Plan. This is a plan which is offered by the College. The Deferred Payment Plan calls for three payments per semester. There is no enrollment fee for this program, but the student is charged interest on the entire unpaid balance. The first payment is due on August 1 for the fall semester, with the remaining payments
Deferred Payment Plan. The Cooperative may in its discretion enter into a deferred payment plan for any amount owed to the Cooperative or any portion thereof.
A. Deferred payment plan. The Cooperative shall offer upon request a deferred payment plan to any residential Customer who has expressed an inability to pay all of his or her bill, if that Customer has not been issued more than two termination notices at any time during the preceding 12 months. In all other cases, the Cooperative is encouraged to offer a deferred payment plan to residential customers.
B. Every deferred payment plan entered into due to the Customer's inability to pay the outstanding bill in full shall provide that service will not be discontinued if the Customer pays current bills and a reasonable amount of the outstanding bill, and agrees to pay the balance in reasonable installments until the bill is paid. A payment of not more than one-third of the total deferred amount may be required as a reasonable amount under this paragraph.
C. A Cooperative is not required to enter into a deferred payment agreement with any Customer who is lacking sufficient credit or a satisfactory history of payment for previous service when that Customer has had service from the present Cooperative for no more than three months. In cases of meter tampering, bypass, or diversion, a Cooperative may, but is not required to, offer a Customer a deferred payment plan.
D. A deferred payment plan may include a five percent (5%) penalty for late payment but shall not include a finance charge.
E. If a Customer has not fulfilled terms of a deferred payment agreement, the Cooperative shall have the right to disconnect service pursuant to the disconnection rules herein and under such circumstances, it shall not be required to offer subsequent negotiation of a deferred payment agreement prior to disconnection.
F. Upon request, the Cooperative shall offer a deferred payment plan to any residential Customer who has demonstrated a good faith ability to pay a reasonable portion but not all of his/her bill, if that Customer has not previously been delinquent at any time during the preceding 12 months.
Deferred Payment Plan. ▇▇▇▇▇▇▇▇ Baptist University realizes that all students cannot pay the entire balance of their account at the time of registration, therefore, ▇▇▇▇▇▇▇▇ offers a deferred payment plan. Under the deferred payment plan, one-fourth of the students' total account is due and payable at registration. This can be paid through financial aid grants, scholarships, or loans. However, the necessary documents (FAFSA, scholarship letter, taxes, etc.) must be on file in the Financial Aid Office prior to registration. The balance will be divided into three equal payments, with the payments billed on a monthly basis. Due dates for payment are October 10, November 10, and December 1, for the fall semester. A finance charge at the rate of .833% per month will be levied on any unpaid balance. Prior to final exams, students who have an unpaid balance must contact the Business Office at 870/759-4123. Anyone who receives the benefits of institutional or private scholarships administered by the University is expected to maintain a sympathetic and cooperative attitude toward the purposes and policies of ▇▇▇▇▇▇▇▇. Students who enter into their second disciplinary offense in one semester forfeit institutional and/or private scholarships immediately and become ineligible for institutional/ private scholarships for the following semester. Future eligibility will be determined on an individual basis by the Financial Aid Committee. In the event of withdrawal, dismissal, or a reduction in course load to less than 12 semester hours, the student forfeits institutional and/or private scholarship assistance for the current semester. In certain situations, scholarship benefits may be prorated. If a student withdraws voluntarily from an activity for which he/she is receiving scholarship assistance then the student forfeits the scholarship for the entire current semester. If a student is dismissed from an activity for disciplinary reasons, then the student's scholarship assistance for that activity will be discharged on a prorated basis. No student may receive institutional/private scholarship funds for more than eight semesters or after a bachelor degree is earned. International students are eligible to apply for academic and athletic scholarships. Students may cash checks made payable to ▇▇▇▇▇▇▇▇ Baptist University at the Business Office in amounts up to $100.00 per check. Students who write checks to the University, which are returned by the bank, are applicable to bank fees, plus ...