What is payment address?

Payment Address means Bank’s offices at 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000-0000, provided that, if Bank notifies Borrower of another address for payments hereunder to be made to Bank, it shall mean such other address.

What is billing address?

Billing address refers to the address that you want to have (or you already have) associated with a form of payment or a bank account. In most cases, this address is the same as your permanent residential address.

What is actual payment?

Actual Payment means, with respect to a Collection Period and a Lease, all Scheduled Payments, Prepayments, proceeds from any Lease subject to a Casualty Loss, Final Lease Payments, Residual Receipts and Defaulted Residual Receipts received by the Servicer from or on behalf of a Lessee with respect to such Lease during such Collection Period.

When is payment required?

Payment is the transfer of money or goods and services in exchange for a product or service. Payments are typically made after the terms have been agreed upon by all parties involved. However, payment may be required before, during (installment payments) or after goods or services have been provided.