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;
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Examples of Payment Grace Period in a sentence

  • Until the expiration of the Payment Grace Period, such claimants shall not be permitted to seek relief from this Court for the immediate payment of their administrative claim(s).

  • Accordingly, the Court should authorize the Debtors to implement the Payment Grace Period with respect to ordinary course administrative claims, the payment of which is specified in the Liquidation Budget.

  • In this instance, approving the Payment Grace Period will prevent a disorderly race by ordinary course administrative claimants seeking immediate payment of their claims where cash may temporarily be insufficient to satisfy them.

  • If, however, the claimant remains unpaid at the expiration of the Payment Grace Period, the claimant shall be permitted to seek relief from the Court under section 503 of the Bankruptcy Code.

  • The Court has the authority to approve the Payment Grace Period for those ordinary course administrative claims that the Debtors may not be able to pay immediately when they are due.

  • 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.

  • Making the opt-in statement in the case of a credit card agreement, and other provisions 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.

  • 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.

  • Resolution Approving a Temporary Emergency Appropriation for 2020 Budget 36-20 Resolution to Extend the May 1 Tax Payment Grace Period to June 137-20 Introduction of the 2020 Municipal BudgetOn a motion by Commissioner Tovinsky, second by Commissioner Gies, the resolution consent agenda was approved with the following poll vote: Gies-yes; Tovinsky-yes; Wolk-yes.

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

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 Event means the first day on which the Notes have an Investment Grade Rating from a 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 calendar period for which premium rates established by a small employer carrier are assumed to be in effect.

  • 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.

  • Investment Grade Rating means a rating equal to or higher than Baa3 (or the equivalent) by Xxxxx’x 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.

  • 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+”.

  • 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.

  • Grace Period Extension Date means, if:

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

  • LCA Test Date has the meaning assigned to such term in Section 1.06.