Payment Grace Period definition

Payment Grace Period means the twenty-one (21) days after Your Renewal Date in which You may make Your Renewal Payment. Coverage under this Contract will be suspended for each day during the Payment Grace Period that the Renewal Payment remains unpaid.
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Payment Grace Period means the aggregate of (i) 90 days and (ii) a further 30 days after notice is given by the Trustee to the Obligor of the failure to pay within that 90 day period.
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Examples of Payment Grace Period in a sentence

  • The Late Payment Interest shall accrue each day that the Reimbursement Payment remains unpaid after the Late Payment Grace Period at a rate equal to six percent (6%) per annum.

  • In the event ALST fails to make payments due hereunder, Apogee shall have the right to terminate this Agreement upon forty-five (45) days written notice (the "Late Payment Grace Period").

  • The Co-Obligors shall have until the end of the Co-Obligor Payment Grace Period to cure the Co-Obligor Payment Default.

  • In the event that the Co-Obligors do not make the full Co-Obligor Payment due on a particular Co-Obligor Payment Date by the end of the Co-Obligor Payment Grace Period, and the Co-Obligors have not made a payment thereafter, which payment constitutes a Co-Obligor Nonpayment Cure, as described in Section 5.05, above, such nonpayment shall constitute an Event of Special Redemption (as described in Section 5.04 herein).

  • Five days after the end of the Co-Obligor Payment Grace Period, the Trustee shall withdraw from the Payment Reserve Fund and/or the Recovery Fund, as applicable, an amount equal to the unpaid amount of the current interest payment and any scheduled principal payment due and payable on the Series 2023-A Notes on the applicable Note Payment Date and pay such amount to the Noteholders.

  • In the event that the Co-Obligors fail to make a Co-Obligor Payment on a timely basis or in the required amount, and such failure is not cured by the end of the Co-Obligor Payment Grace Period, such nonpayment or underpayment will trigger the actions described in Section 4.06, Section 5.04 and Article VII hereof.

  • If the Co-Obligors fail to make the required payment by the end of the Co-Obligor Payment Grace Period and there has been no Co-Obligor Nonpayment Cure, the provisions of the Insurance Policy shall be triggered, as described in Sections 7.05 through 7.14 herein.

  • Failure to make such Reimbursement Payment within the Late Payment Grace Period shall require Agency to pay interest on the late payment (the “Late Payment Interest”).

  • Failure to make such Reimbursement Payment within the Late Payment Grace Period shall require City to pay interest on the late payment (the “Late Payment Interest”).

  • If ALST fails to make such payments, plus interest as provided under Section 7.4, within the Late Payment Grace Period, Apogee may immediately terminate the Agreement upon expiration of the Late Payment Grace Period.

Related to Payment Grace Period

  • Grace Period means the 30-day period following expiration of a license when the license is still considered to be active. In order to renew a license during the grace period, a licensee is required to pay a late fee.

  • Investment Grade Rating Date means the date on which the Borrower first obtains an Investment Grade Rating.

  • Investment Grade Rating Event means the first day on which the Notes have an Investment Grade Rating from each Rating Agency, and no Default has occurred and is then continuing under this Indenture.

  • Investment Grade Status shall occur when the Notes receive two of the following:

  • Rating period means the 12-month period for which premium rates are determined by a health