Common use of Postponement of Due Date Clause in Contracts

Postponement of Due Date. The Insured shall not postpone, reschedule, extend (including by the use of payment plans), accelerate or otherwise change any Due Date without the prior written consent of the Insurer. However, in the event that a Buyer is unable or unwilling to make a payment on the original Due Date, the Insured may grant without the prior written consent of the Insurer one postponement to the Buyer for a period not exceeding the Maximum Extension Period, provided that: (a) the Due Date is not evidenced by any of the following: bill of exchange, promissory note, cash against documents terms, documentary sight draft, documents against payments transaction or payment under a letter of credit; and (b) the Insured knows no adverse information about the Buyer; and (c) the request for extended terms is made shortly before or after the original Due Date. In the event of the Insured agreeing to a postponement in this way, the new Due Date shall become the Due Date for all purposes under the Policy. Payment obligations that are disputed by the Buyer in writing will not be considered overdue for the purpose of this clause.

Postponement of Due Date. The Insured shall not postpone, reschedule, extend (including by the use of payment plans), accelerate or otherwise change any Due Date without the prior written consent of the Insurer. However, in the event that a Buyer an Obligor is unable or unwilling to make a payment on the original Due Date, the Insured may grant without the prior written consent of the Insurer one postponement to the Buyer Obligor for a period not exceeding the Maximum Extension Period, provided that: (a) the Due Date is not evidenced by any of the following: bill of exchange, promissory note, cash against documents terms, documentary sight draft, documents against payments transaction or payment under a letter of credit; and (b) the Insured knows no adverse information about the BuyerObligor; and (c) the request for extended terms is made shortly before or after the original Due Date. In the event of the Insured agreeing to a postponement in this way, the new Due Date shall become the Due Date for all purposes under the Policy. Payment obligations that are disputed by the Buyer Obligor in writing will not be considered overdue for the purpose of this clause.

Postponement of Due Date. The Insured shall not postpone, reschedule, extend (including by the use of payment plans), accelerate or otherwise change any Due Date without the prior written consent of the Insurer. However, in the event that a Buyer is unable or unwilling to make a payment on the original Due Date, the Insured may grant without the prior written consent of the Insurer one postponement to the Buyer for a period not exceeding the Maximum Extension Period, provided that: (a) the Due Date is not evidenced by any of the following: bill of exchange, promissory note, cash against documents terms, documentary sight draft, documents against payments transaction or payment under a letter of credit; and (b) the Insured knows no adverse information about the Buyer; and (c) the request for extended terms is made shortly before or after the original Due Date. In the event of the Insured agreeing to a postponement in this way, the new Due Date shall become the Due Date for all purposes under the Policy. Payment obligations that are disputed by the Buyer in writing will not be considered overdue for the purpose of this clause.

Postponement of Due Date. The Insured shall not postpone, reschedule, extend (including by the use of payment plans), accelerate or otherwise change any Due Date without the prior written consent of the Insurer. However, in the event that a Buyer an Obligor is unable or unwilling to make a payment on the original Due Date, the Insured may grant without the prior written consent of the Insurer one postponement to the Buyer Obligor for a period not exceeding the Maximum Extension Period, provided that:: SPECIMEN (a) the Due Date is not evidenced by any of the following: bill of exchange, promissory note, cash against documents terms, documentary sight draft, documents against payments transaction or payment under a letter of credit; and (b) the Insured knows no adverse information about the BuyerObligor; and (c) the request for extended terms is made shortly before or after the original Due Date. In the event of the Insured agreeing to a postponement in this way, the new Due Date shall become the Due Date for all purposes under the Policy. Payment obligations that are disputed by the Buyer Obligor in writing will not be considered overdue for the purpose of this clause.

Postponement of Due Date. The Insured shall not postpone, reschedule, extend (including by the use of payment plans), accelerate or otherwise change any Due Date without the prior written consent of the Insurer. SPECIMEN However, in the event that a Buyer an Obligor is unable or unwilling to make a payment on the original Due Date, the Insured may grant without the prior written consent of the Insurer one postponement to the Buyer Obligor for a period not exceeding the Maximum Extension Period, provided that: (a) the Due Date is not evidenced by any of the following: bill of exchange, promissory note, cash against documents terms, documentary sight draft, documents against payments transaction or payment under a letter of credit; and (b) the Insured knows no adverse information about the BuyerObligor; and (c) the request for extended terms is made shortly before or after the original Due Date. In the event of the Insured agreeing to a postponement in this way, the new Due Date shall become the Due Date for all purposes under the Policy. Payment obligations that are disputed by the Buyer Obligor in writing will not be considered overdue for the purpose of this clause.