Payment Holiday With Term Extension definition

Payment Holiday With Term Extension means, in respect of a Financing Contract with 3 to 18 months to its contractual maturity date, a payment holiday offered by VWFS to a New COVID-19 Eligible Obligor in respect of the next three unbilled rental payments due under the Financing Contract with the maturity date under the Financing Contract being extended by up to 3 months from its original scheduled contractual maturity date.
Sample 1Sample 2Sample 3
Payment Holiday With Term Extension means, in respect of a Financing Contract with 3 to 18 months to its contractual maturity date, a payment holiday offered by VWFS to a New COVID-19 Eligible Obligor in respect of the next three unbilled rental payments due under the Financing Contract with the maturity date under the Financing Contract being extended by up to 3 months from its original scheduled contractual maturity date. Payment holidays do not extend beyond 31 July 2021 and Obligors may no longer receive a VWFS Payment Deferral.
Sample 1

Examples of Payment Holiday With Term Extension in a sentence

  • The Issuer shall only agree to a withdrawal by VWFS of a Collateral RV Buffer Amount posted with respect to a Purchased Receivable subject to a Payment Holiday With Term Extension or a Further Payment Holiday With Term Extension outside of the Order of Priority if the related Purchased Receivable is repurchased in accordance with the Receivables Purchase Agreement or the Redelivery Repurchase Agreement.

  • VWFS has, nonetheless, decided that it will, in respect of the Monthly Period in which a Payment Holiday With Term Extension is granted for a Purchased Receivable, calculate a collateral RV buffer in the form of a Collateral RV Buffer Amount to be made available to the Issuer as a deposit by VWFS in the Collateral RV Ledger.

  • VWFS will only be entitled to request a withdrawal of a Collateral RV Buffer Amount posted with respect to a Purchased Receivable subject to a Payment Holiday With Term Extension or Further Payment Holiday With Term Extension outside of the Order of Priority if the related Purchased Receivable is repurchased in accordance with the Receivables Purchase Agreement or the Redelivery Repurchase Agreement.

  • VWFS will only be entitled to request a withdrawal of a Collateral RV Buffer Amount posted with respect to a Purchased Receivable subject to a Payment Holiday With Term Extension outside of the Order of Priority if the related Purchased Receivable is repurchased in accordance with the Receivables Purchase Agreement or the Redelivery Repurchase Agreement.

  • VWFS has, nonetheless, decided that it will, in respect of the Monthly Period in which a Payment Holiday With Term Extension and Further Payment Holiday With Term Extension is granted for a Purchased Receivable, calculate a collateral RV buffer in the form of a Collateral RV Buffer Amount to be made available to the Issuer as a deposit by VWFS on the Collateral RV Ledger.

  • 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 or Further Payment Holiday With Term Extension.

  • 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.

  • On the Collateral RV Buffer Start Date and on each Payment Date thereafter the Collateral RV Ledger will be credited with Collateral RV Buffer Amounts in respect of each Purchased Receivable which has, during the relevant Monthly Period, become subject to a Payment Holiday With Term Extension or a Further Payment Holiday With Term Extension.

  • The Collateral RV Buffer Amount was paid by VWFS to the Issuer on the Payment Date following the expiry of the Monthly Period in which a Purchased Receivable became subject to a Payment Holiday with Term Extension and Further Payment Holiday With Term Extension.

  • VWFS will only be entitled to request a withdrawal of a Collateral RV Buffer Amount posted with respect to a Purchased Receivable subject to a Payment Holiday With Term Extension and Further Payment Holiday With Term Extension outside of the Order of Priority if the related Purchased Receivable is repurchased in accordance with the Receivables Purchase Agreement or the Redelivery Repurchase Agreement.

Related to Payment Holiday With Term Extension

  • Contract Term Extension means an extension of the term of this contract, at the request of Purchaser, under this Subsection. This Subsection does not obligate Contracting Officer to grant Contract Term Extension.

  • Resolution Extension Period As defined in Section 2.03(b).

  • Patent Term Extension means any term extensions, supplementary protection certificates and equivalents thereof offering Patent protection beyond the initial term with respect to any issued Patents.

  • Three-Month Term SOFR Conventions means any determination, decision or election with respect to any technical, administrative or operational matter (including with respect to the manner and timing of the publication of Three-Month Term SOFR, or changes to the definition of “interest period,” timing and frequency of determining Three-Month Term SOFR with respect to each interest period and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Calculation Agent decides may be appropriate to reflect the use of Three-Month Term SOFR as the Benchmark in a manner substantially consistent with market practice (or, if the Calculation Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Calculation Agent determines that no market practice for the use of Three-Month Term SOFR exists, in such other manner as the Calculation Agent determines is reasonably necessary).

  • Second Extension Period means the period of one (1) Contract Year commencing immediately after the end of the First Extension Period.

  • End of Term Extension means the time period defined in §2.D.

  • First Extension Period means the period of one (1) Contract Year commencing immediately after the conclusion of the Initial Exploration Period.

  • Debt service extension base means an amount equal to that

  • General Holiday means every Sunday and any other day which is a

  • Renewal Application means a document used to collect pertinent data for renewal of permits

  • Three-Month Term SOFR means the rate for Term SOFR for a tenor of three months that is published by the Term SOFR Administrator at the Reference Time for any Floating Interest Period, as determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions.

  • Statutory Holiday means New Year’s Day, Family Day, Good Friday, Victoria Day, Canada Day, Civic Holiday, Labour Day, Thanksgiving Day, Christmas Day, and Boxing Day; and

  • public holiday means any day other than Saturday or Sunday on which the banks in the City of London are not open for business;

  • Additional Xxxx of Sale means each document, in the form of Attachment D hereto, executed by an authorized officer of VL Funding, the VL Funding Eligible Lender Trustee on behalf of VL Funding, Funding and the Interim Eligible Lender Trustee on behalf of Funding which shall: (i) set forth the list and certain terms of (a) Additional Loans offered by VL Funding and the VL Funding Eligible Lender Trustee on behalf of VL Funding and accepted for purchase by the Interim Eligible Lender Trustee for the benefit of Funding, including the Additional Loans Purchase Price for the Additional Loans being sold thereunder or (b) Substituted Loans substituted by VL Funding and (ii) sell, assign and convey to Funding and the Interim Eligible Lender Trustee, for the benefit of Funding, and their assignees, all right, title and interest of VL Funding and of the VL Funding Eligible Lender Trustee on behalf of VL Funding in the Additional Loans or Substituted Loans, as applicable, listed on the related Additional Xxxx of Sale and (iii) certify that the representations and warranties made by VL Funding and the VL Funding Eligible Lender Trustee on behalf of VL Funding pursuant to Sections 5(A) and (B) of these Master Terms, by the Servicer as set forth in Section 5(C) and by the Interim Eligible Lender Trustee as set forth in Section 5(D) are true and correct.

  • Extended Reporting Period means a designated period of time after a claims-made policy has expired during which a claim may be made and coverage triggered as if the claim has been made during the policy period.

  • Payment Commencement Date means the date payments of amounts deferred begin pursuant to Article III, Section 6.

  • Clearance System Business Day means, with respect to the Clearance System, any day (other than a Saturday or Sunday) on which the Clearance System is open for the acceptance and execution of settlement instructions.

  • Commercial sexual activity means any sex act or sexually explicit performance for which anything of value is given, promised to, or received by any person and includes, but is not limited to, prostitution, participation in the production of pornography, and performance in strip clubs.

  • Extension Period has the meaning set forth in Section 2.11.

  • Time Extension shall have the meaning set forth in Clause 10.5;

  • Application Period means the months beginning with the month in which the application is considered to be filed, through and including the month in which an eligibility determination is made.

  • Rental Period means the calendar period during which Government property is made available for nongovernmental purposes.

  • PEA Period means the period commencing at 9:30 a.m., Eastern time, on the fifth (5th) Business Day immediately prior to the filing of any post-effective amendment to the Registration Statement (as defined herein) or New Registration Statement (as such term is defined in the Registration Rights Agreement), and ending at 9:30 a.m., Eastern time, on the Business Day immediately following, the effective date of any post-effective amendment to the Registration Statement (as defined herein) or New Registration Statement (as such term is defined in the Registration Rights Agreement).

  • Service Extension shall have the meaning set forth in Section 7.1(c).

  • Beyond use date means the date determined by a pharmacist and placed on a

  • CSD Business Day means a day on which the Book-Entry Securities System is open in accordance with the regulations of the CSD.