Modified Contract means, with respect to a Receivable, the related Contract (i) which at any time, was in default and which default was cured by adjusting or amending the contract terms or accepting a reduced payment, other than a Contract that was modified in connection with an insolvency proceeding under Chapter 13 of the Bankruptcy Code, or (ii) for which the APR, the number or amount of the Scheduled Payments or Principal Balance was amended or otherwise modified at any time.

Modified Contract means a Contract which, at any time, (a) was in default and which default was cured by adjusting or amending the contract terms (other than through a payment extension) or accepting a reduced payment, (b) for which the interest rate, the number or amount of the payments or the principal balance was amended or otherwise modified at any time, or (c) was amended or otherwise modified in any other material respect.

Modified Contract means, at any time the same is to be determined, a Vehicle Contract (a) that has been rewritten, restructured, amended or otherwise modified from its original terms seven (7) or more times, or (b) where the term of such Vehicle Contract has been extended (pursuant to one or more modifications) more than one hundred eighty (180) days from the original termination date. Notwithstanding the foregoing to the contrary, modifications solely to (i) change the day of the month when scheduled payments are made, or (ii) cure ambiguities, omissions, mistakes or defects shall not, in each case, be deemed a Modified Contract.

Examples of Modified Contract in a sentence

Original Contract Sum $ For information only) Modified Contract Sum$ – Payment to Date$ (subtract)– Liquidated Damages$ (subtract)– [Other ] $ (subtract)= Payment Due Contractor $ (“Total Payable”)Subject to the provisions hereof, District shall forthwith pay to Contractor the Total Payable amount, less anyamounts represented by any notice to withhold funds on file with District as of the date of such payment.
Modified Contract Sum$ – Payment to Date$ (subtract)– Liquidated Damages$ (subtract)– [Other ] $ (subtract)= Payment Due Contractor $ (“Total Payable”)(Original Contract Sum $ For information only) Subject to the provisions hereof, District shall forthwith pay to Contractor the Total Payable amount, less any amounts represented by any notice to withhold funds on file with District as of the date of such payment.
Contractor will only be assessed liquidated damages as detailed below: Original Contract Sum $ Modified Contract Sum $ Payment to Date $ Liquidated Damages $ Payment Due Contractor $ 2.
The decision of the Annual General Meeting on the approval of the Remuneration Report is of recommendatory nature.
Cost Accounting Standards -- Eligibility for Modified Contract Coverage If the offeror is eligible to use the modified provisions of 48 CFR 9903.201-2(b) and elects to do so, the offeror shall indicate by checking the box below.

More Definitions of Modified Contract

Modified Contract means a personal loan or sales finance contract which, at any time, was in default and which default was cured by adjusting or amending the contract terms or accepting a reduced payment, other than a personal loan or sales finance contract that was modified in connection with an insolvency proceeding under Chapter 13 of the Bankruptcy Code.

Modified Contract. As defined in Section 2.2(b) of the Servicing Agreement.

Modified Contract means, with respect to a Receivable, the related Contract (i) was in default and which default was cured by adjusting or amending the contract terms or accepting a reduced payment, other than a Contract that was modified in connection with an insolvency proceeding under Chapter 13 of the Bankruptcy Code, or (ii) was amended or otherwise modified at any time to reduce the interest rate, extend the original term, reduce, or change the frequency of, Scheduled Payments or extend Scheduled Payment dates or reduce the Principal Balance. For the avoidance of doubt, Routine Modifications shall not cause the related Receivable to be deemed a “Modified Contract”.

Modified Contract. Any automobile, light-truck or van installment sales contract or installment loan and security agreement secured by an interest in an automobile, light-truck or van the terms of which have been modified and, as a result, such contract or agreement was repurchased by UAC from a Securitization Facility as required under the Securitization Facility Documents for such Securitization Facility.

Modified Contract a Contract which, at any time, was in payment default for more than 60 days and such payment default was cured by execution of a new Contract in order to adjust, amend, or reduce the payment terms of the original Contract.

Modified Contract means, at any time the same is to be determined, a Vehicle Contract where the Contract Debtor thereon has made full contractual payments for at least ninety (90) consecutive days in the amounts called for by the terms of such Vehicle Contract after (a) such Vehicle Contract has been rewritten, restructured, amended or otherwise modified from its original terms seven (7) or more times, or (b) the term of such Vehicle Contract has been extended (pursuant to one or more modifications) more than one hundred eighty (180) days from the original termination date.