Contractually Delinquent definition

Contractually Delinquent. With respect to any Mortgage Loan, having one or more uncured delinquencies in respect of payment at any time during the term of such Mortgage Loan.
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Contractually Delinquent with respect to an Account, shall mean an Account as to which the required minimum payment set forth on the related billing statement has not been received by the due date thereof.
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Examples of Contractually Delinquent in a sentence

  • The Borrower will not, at the end of any fiscal quarter, permit Reserves with respect to the Borrower and its Subsidiaries to be less than 50% of the sum of Contractually Delinquent Customer Receivables of the Borrower and its Securitization Subsidiaries.

  • The Borrower will not permit the sum of Borrower's Contractually Delinquent Customer Receivables to exceed 9% of Borrower's Gross Customer Receivables, at any time.

  • The Borrower will not, at the end of any fiscal quarter, permit Reserves to be less than 50% of the sum of Contractually Delinquent Customer Receivables.

  • The Borrower will not permit the sum of Contractually Delinquent Customer Receivables to exceed 9% of Gross Customer Receivables, at any time.