Payment Holiday definition

Payment Holiday means the period of time that a Borrower under a Loan refrains from making payments of interest and principal on his Loan as expressly permitted by the terms of the Borrower’s Loan;

Payment Holiday means, in respect of any Flexible Mortgage Loan, a period of one or more Monthly Payment Dates when the relevant Borrower under such Mortgage Loan is permitted by the Seller in accordance with the relevant Mortgage Conditions not to make its regular Monthly Payment;

Payment Holiday means the Purchaser is not required to repay any part of the principal sum of the "Specified Mortgage Loan" and to pay any interest thereon for the first 12 months from the day of drawdown. The Purchaser is required to repay the principal sum by way of monthly instalments and pay the interest thereon commencing from the 13th month after drawdown.

Examples of Payment Holiday in a sentence

The policy should contain specific prohibited activities, legal requirements and guidelines for handling such information.
An OTC Transaction where the Payment Holiday Centres and Roll Holiday Centres are not the same cannot be cleared.
If an Existing COVID-19 Eligible Obligor is more than one payment or part thereof in arrears after 16 March 2020 and it is deemed to be unsuitable for a Further Payment Holiday then the forbearance options (including the Forbearance Amendments) set out in paragraph (ii) below will be offered.
Existing COVID Eligible Obligor More than 36 monthsFurther Payment Holiday with no Term ExtensionExisting COVID Eligible ObligorMonthly Payments increased to spread the cost of the Payment Deferral over the remaining life of the Financing Contract.
The Collateral RV Buffer Amount shall be paid by VWFS to the Issuer on the Payment Date following the expiry of the Monthly Period in which a Purchased Receivable has become subject to a Payment Holiday with Term Extension and Further Payment Holiday with Term Extension.VWFS began posting Collateral RV Buffer Amounts on the Payment Date falling in June 2020 for the Monthly Period commencing on 1 May 2020.

Payment Holiday means a period agreed by the Seller in accordance with the Credit and Collection Policy (and in any event not longer than three months in any calendar year) for which the Debtor's obligation to make any Principal Payments under the relevant Loan Contract is deferred;

Payment Holiday means the Purchaser is not required to repay any part of the principal sum of the "Specified Second Mortgage Loan" and the "Specified Mortgage Loan" and to pay any interest thereon for the first 12 months from the day of drawdown.

Payment Holiday means a period during which a Borrower may suspend payments under a Loan where the Borrower is permitted under the relevant Mortgage Terms to do so and will therefore not be in breach of the relevant Mortgage Terms; Payment Ledger means the ledger on the GIC Account of such name maintained by the Cash Manager pursuant to the Cash Management Agreement, to record the credits and debits of the Available Revenue Receipts and Available Principal Receipts for application in accordance with the relevant Priority of Payments; Person means a reference to any person, individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organisation, governmental entity or other entity of similar nature (whether or not having separate legal personality); Personal Data shall have the same meaning as is assigned to it in the Data Protection Laws; Personal Data Breach means any actual or reasonably suspected breach of security leading to the accidental or unlawful destruction, loss, alteration, unauthorised disclosure of or access to Relevant Personal Data transmitted, stored or otherwise processed;

Payment Holiday means in respect of a Mortgage Loan, the deferral of the payment of its interest and/or principal instalments in accordance with the application of moratoria provisions from time to time granted to Debtors by any laws, agreements between Italian banking associations and national consumer associations, the Bank of Italy or other regulatory bodies regulations.

Payment Holiday means the period of time that a Borrower under a Loan refrains from making payments of interest and principal on his Loan as expressly permitted by the terms of the Borrower's Loan;

Payment Holiday means a period of time for which you will not be required to continue to make payments towards your Plan, as agreed through us

Payment Holiday means the Bank may offer you the option of not making a payment or allow you to skip a payment during a specific Statement Cycle. If a Payment Holiday is applied to your account, interest will continue to accrue, but the bank will not impose a late fee. You understand that all terms and conditions set out in this Agreement (including Minimum Monthly Payment and any other respective late fees) will be apply to your next Statement Cycle following a Payment Holiday.