Payment Deferral definition

Payment Deferral means a Principal Payment Deferral and/or Interest Payment Deferral, requested by the Recipient and activated by the Association pursuant to the provisions of the Financing Agreement.

Payment Deferral shall have the meaning set forth in Section 2.4(a).

Payment Deferral has the meaning assigned to such term in Section 4.13(g)(ii).

Examples of Payment Deferral in a sentence

• Once the COVID-19 Payment Deferral becomes effective, the mortgage loan no longer needs to be reported on the Servicer's Monthly Delinquent Mortgage & Bankruptcy Status Report (Exhibit B).

• On or prior to the delivery of any notice pursuant to this Condition 5(e)(iii), the Issuer shall procure the delivery of a Solvency Payment Deferral Certificate to the Trustee.

• Notwithstanding anything in this Agreement to the contrary, upon a conversion of a Series 1 Preferred Unit pursuant to Section 4.13(c), the Cumulative Series 1 Preferred Unit Arrearage (but not the Payment Deferral) for such Series 1 Preferred Unit shall be converted into Class A Common Units pursuant to Section 4.13(c)(ii) and thereafter extinguished.

• Consistent with the position taken by the FCA and the EBA, and on the basis that a VWFS Payment Deferral will not cause an amount on a Financing Contract to become overdue, a VWFS Payment Deferral (including a Further VWFS Payment Deferral) will not be reported as a Delinquent Receivable or a Defaulted Receivable.

• In offering VWFS Payment Deferrals (including Further VWFS Payment Deferrals), VWFS will keep the amount of interest payable over the total contract term substantially the same, where possible, in accordance with the FCA Guidance and if an Obligor is in arrears on a monthly payment falling after 16 March 2020 then the arrears balance could be included as part of the VWFS Payment Deferral.

More Definitions of Payment Deferral

Payment Deferral means an arrangement made on or after 9 April 2020, under or in anticipation of this guidance coming into force, under which a firm permits the customer to make no payments or reduced payments under their credit card or revolving credit agreement for a specified period without considering them to be in arrears.

Payment Deferral means, with respect to a Receivable and a related Obligor, the deferral of a scheduled installment payment from such Obligor’s next Obligor Due Date to a new Obligor Due Date, which follows the Obligor Due Date that theretofore had been the final scheduled maturity date of such Receivable.

Payment Deferral means a Principal Payment Deferral and/or Interest Payment Deferral, requested by the Borrower and activated by the Bank pursuant to the provisions of the Loan Agreement.”

Payment Deferral means, with respect to a Receivable and a related Account Debtor, the deferral of a scheduled installment payment from such Account Debtor’s next Scheduled Payment Date to a new Scheduled Payment Date, which follows the Scheduled Payment Date that theretofore had been the final scheduled maturity date of such Receivable.

Payment Deferral means an arrangement made on or after 27 April 2020 under which a firm permits the customer to make no payments or reduced payments under their regulated credit agreement for a specified period, or extends the period until payments are due, without considering them to be in arrears. (For Pawnbroking arrangements, please refer to paragraph 1.19 and for BNPL arrangements to 1.20).

Payment Deferral means an arrangement made on or after 27 April 2020, under which a firm permits the customer to make no payments or reduced payments under their agreement for a specified period without considering them to be in arrears.

Payment Deferral means, with respect to a Serviced Receivable and a related Obligor, the deferral of a scheduled installment payment from such Obligor’s next Obligor Due Date to a new Obligor Due Date, following the Obligor Due Date that theretofore had been the final scheduled maturity date of such Serviced Receivable. The period between the original final scheduled maturity date and such new Obligor Due Date shall be no longer than ninety-five (95) calendar days.