Payment Deferrals Clause Samples
Payment Deferrals. (a) Indemnitor shall defer any Quarterly Payment, any Cash True-Up Payment, or payment of Accrued Amounts to the extent that, as of a Quarterly Payment Date or, as applicable, a True-Up Payment Date: (i) a Specified Event of Default has occurred and is continuing under the Principal Credit Agreement or any other Senior Indebtedness (a “Default Deferral”) or (ii) if, after giving effect to any such cash payment due and payable, (x) the Homes Restricted Group, on a consolidated basis, would fail to be in compliance with any financial maintenance covenant under the Principal Credit Agreement or (y) the Homes Restricted Group, on a consolidated basis, would fail to maintain a Fixed Charge Coverage Ratio (as defined in the Indenture) of at least 2:00 to 1:00 (the “FCCR Test”); provided that this clause (y) shall only apply in the event that at the time such cash payment is due and payable, (1) no Principal Credit Agreement exists, (2) no financial maintenance covenant exists under the terms of any Senior Indebtedness and (3) the Indenture (or a replacement indenture that constitutes Senior Indebtedness) exists and the FCCR Test remains applicable (a “Financial Covenant Deferral” and, together with a Default Deferral, a “Payment Deferral”). For the avoidance of doubt, Indemnitor shall pay such portion of any Quarterly Payment, Cash True-Up Payment or Accrued Amounts subject to a Financial Covenant Deferral to the extent that payment would not result in a Financial Covenant Deferral.
(b) If Indemnitor shall defer any cash payments in accordance with Section 2.4(a), any amounts so deferred (“Accrued Amounts”) shall be paid in accordance with this Section 2.4(b).
(i) On each True-Up Payment Date, if any Accrued Amounts have accrued and remain unpaid, then Indemnitor shall pay such Accrued Amounts, subject to Payment Deferral pursuant to Section 2.4(a), provided that, if the sum of (A) that amount of the Aggregate Annual Obligation that was due and payable (including payable by reduction in Overage Credit) in respect of the preceding calendar year, plus (B) such Accrued Amounts exceeds the Cap, then Indemnitor shall only pay such Accrued Amounts exceeding the Cap that Indemnitor is permitted to pay under Section 6.08(a)(xii)(A) (Limitations on Restricted Payments) of the Principal Credit Agreement (or any successor provision).
(ii) Any Accrued Amounts that remain unpaid following any True-Up Payment Date shall be paid on the next succeeding True-Up Payment Date as p...
Payment Deferrals. SERVICERS shall have the absolute right to defer, delay or divert any payment due to IPAYMENT to add additional funds to the Reserve Account, or to otherwise offset any future chargebacks or other amounts due to SERVICERS.
Payment Deferrals. In addition to any rights now or hereafter granted under this Agreement or applicable law and not by way of limitation of any such rights, SERVICERS are hereby authorized by ISO, at any time and from time to time, without notice or demand to ISO or to any other person (any such notice and demand being hereby expressly waived), to setoff, recoup and to appropriate and to apply any and all monies or funds belonging or payable to ISO which are in Bank’s possession against and on account of ISO’s obligations to SERVICERS under this Agreement (including funding the Offset Account, the Reserve Account, the Termination Reserve Account or funding chargebacks), whether such obligations are liquidated, unliquidated, fixed, contingent, matured or unmatured.
Payment Deferrals. The City Manager, upon the recommendation of the Finance Director, is hereby authorized to extend deadlines for payment related to any amounts due and owing to the City.
Payment Deferrals. Florida Statute 1009.27 allows deferments when a student is awarded aid for a given term or if a student is eligible for a veteran’s educational benefits. In accordance with Florida State Board of Education Rule 6A- 14.054, the college has elected to limit the deferral of fees to one per term, which is due 60 calendar days after the first day of class, regardless of any pending financial aid. Students are responsible for payment of any outstanding balance on their student account even if they do not receive or are not eligible for financial aid or veteran’s educational benefits for a given term/course. Payment Methods – If the student account is not paid through financial aid or a third party agency, the College of Central Florida offers four methods for paying your student accounts balance: Utilize our NelNet payment plan. Pay online with a credit card — (we accept Visa, Master Card, Discover and American Express). Visit a cashier at the Ocala, Citrus or Levy Campus. Mail a check made payable to College of Central Florida, attention Cashier’s Office, ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇. Ocala, FL 34474-4415. Please note: Students who have previously provided payment that was dishonored by their financial institution (returned check or EFT or disputed credit card charge) are required to pay in cash or with other certified funds. Also, students who have previously filed bankruptcy are required to pay all fees in full. Returned Check Fee – A returned check fee of up to $40 dollars or 5% of the face value, whichever is greater, will be added to your account for any check returned by your financial institution. The college reserves the right to pursue all legal remedies available to collect on a returned check.
Payment Deferrals. In some exceptional cases, residents may request a payment deferral or customized payment plan from the Campus Living.