PROTECTED PAYMENT definition

PROTECTED PAYMENT means the minimum payment amount, including principal, interest, and the Program Fee, due on the Protected Balance on the date Protection Activation begins. It does not include the amount of any payment that represents a past-due payment. A scheduled lump-sum balloon payment will be protected for the amount of the minimum payment due for the period immediately preceding the scheduled balloon payment. For interest cancellation options, the Protected Payment will be the interest and Program Fee due on the Protected Balance. The Protected Payment will remain equal to the Protected Payment as of the first day of the Protected Event. Additionally, any Advance taken during any period of Life Plus, Disability or Involuntary Unemployment will not be protected and the payment for that Advance will not be cancelled. You are responsible for re-paying any amounts that are not cancelled.
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PROTECTED PAYMENT means a payment to which Article 3(1) refers and, if a household is eligible for a protected HIE payment, it also means such a payment;
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PROTECTED PAYMENT means the greater of: (a) the minimum payment required on Your Protected Balance; or (b) $200.00. The amount We cancel will never be greater than the amount You owe on the Protected Balance. It does not include the amount of any payment that represents a past-due payment. For interest cancellation options, the Protected Payment will be the interest and Program Fee due on the Protected Balance. The Protected Payment will remain equal to the Protected Payment as of the first day of the Protected Event. Additionally, any Advance taken during any period of Life Plus, Disability or Involuntary Unemployment will not be protected and the payment for that Advance will not be cancelled. You are responsible for re-paying any amounts that are not cancelled.
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Examples of PROTECTED PAYMENT in a sentence

  • THE PROTECTED PAYMENT BASE CANNOT BE WITHDRAWN AS A LUMP SUM AND IS NOT PAYABLE AS A DEATH BENEFIT.


More Definitions of PROTECTED PAYMENT

PROTECTED PAYMENT means the greater of: (a) the minimum payment required on Your Protected Balance; or (b) $200.00. The amount We cancel will never be greater than the amount You owe on the Protected Balance. PROTECTION ACTIVATION means the cancellation of Your Daily Payment in accordance with the terms and provisions of the Contract.
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PROTECTED PAYMENT. . This means you’ll still be paid it on top of your full new State Pension.
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PROTECTED PAYMENT means the greater of: (a) the minimum payment required on Your Protected Balance; or (b) $200.00. The amount We cancel will never be greater than the amount You owe on the Protected Balance. It does not include the amount of any payment that represents a past-due payment. For interest cancellation options, the Protected Payment will be the interest and Program Fee due on the Protected Balance. The Protected Payment will remain equal to the Protected Payment as of the first day of the Protected Event. Additionally, any Advance taken during any period of Disability or Involuntary Unemployment will not be protected and the payment for that Advance will not be cancelled. You are responsible for re-paying any amounts that are not cancelled.
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PROTECTED PAYMENT means the greater of: (a) the minimum payment required on Your Protected Balance; or (b) $200.00. The amount We cancel will never be greater than the amount You owe on the Protected Balance. It does not include the amount of any payment that represents a past-due payment. For interest cancellation options, the Protected Payment will be the interest and Program Fee due on the Protected Balance. The Protected Payment will remain equal to the Protected Payment as of the first day of the Protected Event. Additionally, any Advance taken during any period of Disability will not be protected and the payment for that Advance will not be cancelled. You are responsible for re-paying any amounts that are not cancelled.
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PROTECTED PAYMENT means the minimum payment amount, including principal, interest, and the Program Fee, due on the Protected Balance. PROTECTION ACTIVATION means the cancellation of Your Daily Payment in accordance with the terms and provisions of the Contract.
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Related to PROTECTED PAYMENT

  • Restricted Payment means any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests in the Borrower or any option, warrant or other right to acquire any such Equity Interests in the Borrower.

  • Required Payments means each of the items described in (i) through (xii) of Section 3.4 of the Indenture.

  • Pro Forma Disposal Adjustment means, for any Test Period that includes all or a portion of a fiscal quarter included in any Post-Transaction Period with respect to any Sold Entity or Business, the pro forma increase or decrease in Consolidated EBITDA projected by the Borrower in good faith as a result of contractual arrangements between the Borrower or any Restricted Subsidiary entered into with such Sold Entity or Business at the time of its disposal or within the Post-Transaction Period and which represent an increase or decrease in Consolidated EBITDA which is incremental to the Disposed EBITDA of such Sold Entity or Business for the most recent Test Period prior to its disposal.

  • Guaranteed Payment for each Class of Notes and any Payment Date means the sum of (i) the related Guaranteed Principal Payment Amount plus (ii) the related Aggregate Investor Interest for the Payment Date.

  • Index Related Payment Date means, in relation to any Index and an Index Determination Date, any payment date under the Preference Shares for which the amount payable is calculated by reference to the Index as determined on such Index Determination Date;

  • Debt Incurrence Prepayment Event means any issuance or incurrence by the Borrower or any of the Restricted Subsidiaries of any Indebtedness (excluding any Indebtedness permitted to be issued or incurred under Section 10.1 other than Section 10.1(o) or, except to the extent accompanied by a corresponding reduction of the Revolving Credit Commitments Section 10.1(y)).