Payment Grace Period definition

Payment Grace Period means the aggregate of: (a) 90 days; and (b) a further 30 days after notice is given by the Trustee to IFC of the failure to pay within that 90 day period;
Sample 1

Examples of Payment Grace Period in a sentence

  • Holder may notify Maker by facsimile of any extension of the Maturity Date on or before the Maturity Date or any extension thereof or within the applicable Payment Grace Period for the Maturity Date or extension thereof.

  • The concern with this practice is that offenders in Utah are not given a reasonable opportunity to pay their debt before incurring fees and penalties.CCJJ and the Sentencing Commission Recommend a Payment Grace Period In 2019, a Utah Commission on Criminal and Juvenile Justice (CCJJ) task force16 examined the issues that offenders face during community supervision.

  • 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").

  • 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).

  • Cost of Premium Payment Grace Period Extension Starting Point: 35% of 2 Months Premium = 5.83%of Annual Premium 1.

  • 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.

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

  • 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.

  • M aking the opt-in statement in the case of a credit card agreement, and otherprovisions relating to the credit card agreementsIn the event that the Client fails to pay the Minimum Amount Payable, determined on the anniversary date, to the credit card account by the end of the Payment Grace Period despite the opt-out statement made, the Bank shall call the Client via a recorded line within 30 days of the default, so that the Client can confirm the intention to opt in or to opt out.

Related to Payment Grace Period

  • Grace Period means the specified period of time immediately following the premium due date during which a payment can be made to renew or continue a policy in force without loss of continuity benefits such as waiting periods and coverage of pre-existing diseases. Coverage is not available for the period for which no premium is received.

  • 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

  • Lowest Adjacent Grade (LAG means the elevation of the ground, sidewalk or patio slab immediately next to the building, or deck support, after completion of the building.

  • Allowable Grace Period shall have the meaning assigned to such term in Section 3(p).

  • Investment Grade Rating means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any other Rating Agency.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Grace Period Business Day means a day on which commercial banks and foreign exchange markets are generally open to settle payments in the place or places and on the days specified for that purpose in the relevant Obligation and if a place or places are not so specified, in the jurisdiction of the Obligation Currency.

  • Downgrade Event means, unless otherwise specified on the Cover Sheet, for a Party means that Party’s Credit Rating falls below BBB- from S&P or Baa3 from Moody’s or becomes no longer rated by either S&P or Moody’s.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Investment Grade Ratings means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, provided that no negative watch is placed on such rating.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Approved Ratings Threshold means each of the S&P Approved Ratings Threshold and the Moody’s First Trigger Ratings Threshold.

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody's Second Trigger Ratings Threshold.

  • Investment Grade means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s); a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Highest Adjacent Grade (HAG means the highest natural elevation of the ground surface, prior to construction, immediately next to the proposed walls of the structure.

  • S&P Approved Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a short-term unsecured and unsubordinated debt rating from S&P of “A-1”, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of “A+”.

  • S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating from S&P of “BBB+”.

  • Ratings Trigger Event has the meaning set forth in Section 3.14 of the Sale and Servicing Agreement.

  • Investment Grade Securities means:

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • LCT Test Date shall have the meaning provided in Section 1.12(b).