Payment Deferral definition

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

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 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).

• Specifically, this audit shall examine the accuracy of the reporting submitted by Retailers and shall commence no later than one (1) Month after the commencement of the Payment Deferral Period.

• References in Section 29 to Payment Deferral Period, for the purposes of the Covid-19 March 2020 Primary Charges shall be read as if this was March 2020.

• The Contracting Wholesaler shall invoice each relevant Contracting Retailer on a monthly basis, by the 20th day of each Month, in relation to the Deferral Interest Amount calculated up to the 30th day of the month, which, for the avoidance of doubt, shall not be added to the Cumulative Outstanding Balance and shall remain separate from any calculation of cumulative Primary Charges for the Payment Deferral Period.

• This initial Deferral Interest Rate shall then be applied to all Deferral Interest Amounts from the commencement of the Payment Deferral Period.

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 regulated credit agreement for a specified period without considering them to be in arrears.

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 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, 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.

Payment Deferral shall have the same meaning given to such term in the Receivables Purchase Agreement.