Protracted Default definition

Protracted Default means failure by a buyer to pay the contractual debt within a predefined period calculated from the due date of the debt.

Protracted Default means the failure of a Debtor to pay a Protected Book Debt within the Protected Default Period;

Protracted Default means neglect or failure of an exporter to repay any outstanding insured debt due to the Insured by the due date for its repayment but non-payment by an exporter owing to a genuine dispute with regard to the whole or any part of his liability to the Insured may not amount to protracted default.

Examples of Protracted Default in a sentence

• A Protracted Default has occurred (the date of loss will be the expiration of the relevant Waiting Period).

• If your Buyer becomes Insolvent during the Claim Filing Period for Protracted Default, you need to file your Claim and Collection form within the Claim Filing Period for Protracted Default or Insolvency, whichever is earlier.

• Protracted Default: 6 months after due date (Clause: Protracted Default) Hermes Hamburg Kreditversicherungs - AG 18th August 1997 /s/ Hermes /s/ Hamburg PAGE 4 Hermes Kreditversicherungs-AG Insurance Policy No. 60322 Commercial Credit Insurance Standard Policy Additional Agreements NOTES TO ss.

• The provisions of thisss.15 shall terminate on the tenth anniversary of the initial issuance of the Warrant.

• For Protracted Default, the Claim Filing Period expires 90 days after the end of the Maximum Extension Period, or 180 days after the date of Supply, whichever is later.

More Definitions of Protracted Default

Protracted Default. ’ means the non-payment at the end of the Waiting Period of all or part of an insured receivable by a Buyer that is not Insolvent.

Protracted Default means the non-payment at the end of the Waiting Periodof all or part of an insured receivable by a Buyer that is not Insolvent.

Protracted Default means a Claimable Event and means the failure of an Insured Buyer to pay an Insured Debt, or any part of it, within the Protracted Default Period stated in the Schedule and the Claimable Event Date in respect of Protracted Default will be the date of the expiry of the Protracted Default Period.

Protracted Default means a lengthened or extended duration in the repayment of the loan by the Borrower for more than ninety days (90) days from due date.

Protracted Default means that a protracted default shall have occurred if any Scheduled Payment under the Insured Contract is not paid on due date, and the payment has not been made within a period of 180 (one hundred and eighty) days after the due date of payment (or postponed due payment as may be agreed to in writing by the Insurer), which failure is not caused directly or indirectly by any of the events described as a Political Cause of Loss, provided that no protracted default shall have occurred if and for so long as the reason for failure to make payment of that amount is because the obligation to make payment is the subject of dispute;

Protracted Default means the Buyer’s failure to pay the amount owing under a Contract of Salebefore expiration of the Protracted Default Period, other than by reason of any form of Dispute.

Protracted Default means the failure of the Buyer to pay the amount owing under a Contract of Sale prior to the expiration of the Protracted Default Period, other than by reason of any form of dispute.