Acceleration of payments definition

Acceleration of payments means a shortening of the payment period with respect to an annuity or a full or partial commutation of the future annuity payments. An increase in the payment amount will be treated as an acceleration of payments in the annuity only if the total future expected payments under the annuity, including the amount of any payment made as a result of the acceleration, is decreased as a result of the change in payment period.
Sample 1
Acceleration of payments. The Mortgage contains the usual and, subject to Applicable Law, enforceable provisions of the originator at the time of origination for the acceleration of the payment of the unpaid principal amount of the Mortgage Loan if the related Mortgaged Property is sold without the prior consent of the Mortgagee thereunder.
Sample 1
Acceleration of payments. Subject to the Purchaser’s right to withhold or declare a set-off of any of the above instalments as set forth in Sections 6.3 and 7.2 below or to contest the payments for any of the Sellers’ breach of contract, Purchaser’s unjustified, continued failure to make any payment in accordance with the above table, at the defined due dates, to one of the Sellers will result in such Seller’s right to declare due the rest of the outstanding instalments to such Seller and request payment within further 30 days, provided that (i) such Seller has notified Purchaser of such failure to make such payment in writing (the “Notice of Default”) by registered mail (return receipt requested), allowing the Purchaser a grace period to effect the outstanding payment within sixty (60) days from the date of receipt the Notice of Default, and (ii) Purchaser has not contested the respective instalment in writing within thirty (30) days of the date of receipt of the Notice of Default, stating the reasons for the non-payment, and (iii) the Purchaser has not made the respective payment within the grace period of sixty (60) days from the date of receipt of the Notice of Default. It is understood that Purchaser’s default with respect to one of the Seller’s instalment payments will not result in an acceleration of the payments to the other Sellers under this Section 3.2(b).
Sample 1

Examples of Acceleration of payments in a sentence

  • Acceleration of payments means a shortening of the payment period with respect to an annuity or a full or partial commutation of the future annuity payments.

  • Acceleration of payments under this section shall occur under the same circumstances and in the same manner as provided in Internal Revenue Code Section 6166(g).

  • Sensitivity analysis of including CDEP employment in the analysis indicates that the results are not sensitive to our assumption.

  • Other liquidity measures • Acceleration of payments to suppliers and vendors catering to the State: At the beginning of April, all invoices issued to the name of the State and pending payment shall be paid in cash, triggering an immediate liquidity of approximately USD$1 billion.

  • The Council of Elders may delegate the responsibility to record the minutes to any elder or Associate Pastor.

  • Acceleration of payments due on an installment note does not take place by chance.

  • This gives the issuing country time to conduct its restructuring and crisis resolution in an orderly manner.- Acceleration of payments post-default requires the support of 25% of bondholders.

  • Section B, Factor Three: Applicable Tax Doctrines Acceleration of payments required by a contract does not provide basis for the recharacterization of a transaction as a sale for tax purposes.

Related to Acceleration of payments

  • Priority of Payments The meaning specified in Section 11.1(a).

  • Obligation Acceleration means one or more Obligations in an aggregate amount of not less than the Default Requirement have become due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event (however described), other than a failure to make any required payment, in respect of a Reference Entity under one or more Obligations.

  • Acceleration means, with respect to the amounts payable in respect of the Equipment Notes issued under any Indenture, such amounts becoming immediately due and payable by declaration or otherwise. “Accelerate”, “Accelerated” and “Accelerating” have meanings correlative to the foregoing.

  • Acceleration Right means the Participant’s right, in certain circumstances, to exercise its outstanding Option as to all or any of the Common Shares in respect of which such Option has not previously been exercised and which the Participant is entitled to exercise, including in respect of Common Shares not otherwise vested at such time;

  • Acceleration Date on any Security means the date on and after which the principal or any or all installments of interest, or both, are due and payable on any Security which has become accelerated pursuant to the terms of the Security.

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Term Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Nonpayment of premium means the failure or inability of the named insured to discharge any obligation in connection with the payment of premiums on a policy of insurance subject to this section, whether such payments are payable directly to the insurer or its agent or indirectly payable under a premium finance plan or extension of credit;

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Deferred Payments means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Acceleration Request means a request pursuant to Operating Agreement, Schedule 1, section 1.9.4A, and the parallel provisions of Tariff, Attachment K-Appendix, section 1.9.4A, to accelerate or reschedule a transmission outage scheduled pursuant to Operating Agreement, Schedule 1, section 1.9.2 or Operating Agreement, Schedule 1, section 1.9.4, and the parallel provisions of Tariff, Attachment K-Appendix, section 1.9.2 or Tariff, Attachment K-Appendix, section 1.9.4.

  • Note Payment Sequence means the application of Interest Proceeds in accordance with the Interest Proceeds Priority of Payments or the application of Principal Proceeds in accordance with the Principal Proceeds Priority of Payments, as applicable, in the following order:

  • Proof of payment means, as applicable, a copy of the check, confirmation of credit card or debit card payment, confirmation of wire or automated clearinghouse transfer, and any other information required to demonstrate that payment has been made according to EPA requirements, in the amount due, and identified with the Facility name and Docket No. TSCA-04-2023-3006(b).

  • Application for Final Payment means Contractor’s final invoice for payment that includes any portion of the Work that has been completed for which an invoice has not been submitted, amounts owing to adjustments to the final Contract Sum resulting from approved change orders, and release of remaining Contractor’s retainage.

  • Aggregate Payments as defined in Section 7.2.

  • Additional Payments means the amounts required to be paid by the Company pursuant to the provisions of Section 4.2 hereof.

  • Tariff Payment means the payments to be made under Monthly Bills as referred to in Article 10 and the relevant Supplementary Bills;

  • Section 409A Payment Date means the earlier of (a) the date of Executive’s death or (b) the date that is six months after the date of termination of Executive’s employment with the Company.

  • Schedule of Payments means the schedule of payments disclosed on a Contract.

  • Regular Allocation of Principal means, with respect to any Payment Date, an amount not less than zero equal to (1) the excess, if any, of (a) the Note Balance of the Notes as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) (i) the Pool Balance as of the end of the related Collection Period less (ii) the Targeted Overcollateralization Amount minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal, the Third Allocation of Principal, the Fourth Allocation of Principal and the Fifth Allocation of Principal for such Payment Date.

  • Overdue Scheduled Payment means any Scheduled Payment which is not in fact received by the Subordination Agent within five days after the Scheduled Payment Date relating thereto.

  • Guaranty of Payment means each Guaranty of Payment executed and delivered on or after the Closing Date in connection with this Agreement by the Guarantors of Payment, as the same may from time to time be amended, restated or otherwise modified.

  • Accelerated Maturity Date means if the Company elects to accelerate the Maturity Date in accordance with Sections 2.2 (b) and 2.2(c), the date selected by the Company which is prior to the Scheduled Maturity Date, but is on an Interest Payment Date after June 30, 2007.

  • Change of Control Payments means the aggregate amount of all change of control or bonus payments that are payable by the Company and its Subsidiaries to any Person solely as a result of the consummation of the Closing, together with any employer-paid portion of any employment and payroll taxes related thereto; provided, however, that in no event shall any (a) retention payments made pursuant to any Employment Agreement or (b) any severance payments made to employees who are terminated on or after the Closing Date be considered Change of Control Payments.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Premium Due Date means date specified in the Schedule on which the Instalment Premium will become due.

  • Balloon Payments means with respect to any loan constituting Indebtedness, any required principal payment of such loan which is payable at the maturity of such Indebtedness, provided, however, that the final payment of a fully amortized loan shall not constitute a Balloon Payment.