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Deferred payment

Deferred Paymentmeans the Insured’s interestin lost or damaged personal property soldby the Insured under a conditional sale or trust agreement or under any instalment or deferred payment planafter deliveryto the buyer. Deferred Paymentmeans a payment that: (1) has been postponed, skipped, or waivedby the holder, and (2) remainsunpaid on the date of loss.”Deferred Paymentmeans a Payment of all or any portion of a Deferred Amount to be made in accordance with these Payment Guidelines, except Payment of the Pre-Record Date Deferred Amount Consideration and the FinalPost-Record Date Payment to be paidpursuant to the Plan. Deferred Paymentmeans an arrangementprovided for in the Creditpursuant to which the Beneficiary shall have the right or obligation topresent Documents for examination by you in advance of presenting a Drafts or Draft drawnunder the Credit; (c) “Documents” shall mean any and all certificates, documents and statementsaccompanying or relating to the Credit and/or to Drafts drawn under the Credit, but shall not mean Drafts; (d) “Draft” shall mean a written request, order or demand for the payment of money, whether or not negotiable; (e) “Liabilities” shall include any and all of the obligations and liabilitiesunder or with reference to the Credit, the Application, this Agreement, any other letter of credit issued by you; (f) “Party” shall include (i) us, (ii) any guarantor, surety or accommodationparty with respect to, or any party that providesany collateral as security for, or any party that provides a comfort letter, letter of awareness, letter of intent or similar document with respect to any of the Liabilities, and (iii) if any Party is a partnership, any general partner of such Party; (g) “Property” shall mean any and all goods, merchandise, securities, funds, chosen in action, and any and all other forms of property whether real, personal or mixed, tangible or intangible, and any right or interest therein; (h) “UCC” shall mean the New York Uniform Commercial Code, as in effectfrom time to time; and (i) “UCP” shall mean the Uniform Customs and Practice for Documentary Creditsadopted by the Congress of the International Chamber of Commerce (“ICC”), 1993 revision, ICC Publication No. 500 as amended or substituted for and as in effect from time to time.

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