Demand for Payment definition
Examples of Demand for Payment in a sentence
The notice shall be confirmed to the Credit Enhancer in writing in the form of the Notice of Nonpayment and Demand for Payment of Insured Amounts in Exhibit A to the Policy, by 10:00 A.M., New York City time, on the second Business Day before the Payment Date.
Lessee’s failure to pay Lessor any rent or other payments, including Additional Rent, due hereunder when the same becomes due shall constitute a default of the Lease Agreement if Lessee fails to make the payment within ten (10) days (cure period) after Lessor’s service of a written Demand for Payment or Possession by Lessor to Lessee.
The notice shall be confirmed to the Credit Enhancer in writing in the form of the Notice of Nonpayment and Demand for Payment of Insured Amounts in Exhibit A to the Policy, by 10:00 a.m., New York City time, on the second Business Day before the Payment Date.
The initial demand letter must include the appropriate information and due process procedures contained in 22 CFR 213.8 - Written Demand for Payment Notice.
Following a Demand for Payment, the aggregate unpaid amount of all Advances made by Provident to Borrower pursuant to this Agreement, together with all accrued and unpaid interest thereon as well as all Fees, charges and other amounts payable hereunder and under the other Loan Documents shall be immediately due and payable in full and no future or additional Advances will be made by Provident to Borrower hereunder.