Delinquent Status Sample Clauses
Delinquent Status. As of the Purchase Date, the Mortgage Loan is not sixteen calendar days or more Delinquent and Seller has no knowledge of any default or breach existing or threatened under the Security Instrument or Note.
Delinquent Status. If a Net 30 account falls into a delinquent status, it will automatically be defaulted to Due On Receipt. If customer desires to reestablish their Net 30 account, they will be put on a six (6) month probationary period as this raises red flags. Afterwards, they will need to reapply for credit. See Application for Credit.