arrears

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Arrearage

A previously due payment that has not been made. For example, because preferred stock has guaranteed dividends, a company is legally required to pay all dividends on preferred stock before it makes any dividend payments on common stock. If the company does not do so, usually because it has become cash poor, the preferred dividends are said to be in arrearage. This is also called being in arrears.

arrears

(1) Being past due on a debt.(2) Paid at the end of the period rather than the beginning. Rent is usually paid in advance,at the beginning of the month for the coming month.Interest is usually paid in arrears,at the beginning of the month for interest accrued during the prior month.Real estate taxes are usually paid in arrears.

References in periodicals archive ?
Special forbearance provides for a period of reduced or suspended payments that may result in an arrearage not to exceed the equivalent of 12 months of principal, interest, taxes and insurance premiums (PITI) over a period of up to 18 months from the date of the oldest unpaid installment.
Peachtree reviews the documents submitted by each client with a view toward identifying obligations such as child support arrearages, tax liens or judgments.
Liquidity is provided through master servicer advances of delinquent mortgagor scheduled payments, and, only after the principal balance of a mortgage is reduced to zero, if arrearages remain outstanding, the master servicer will advance the original scheduled payment for payment of the arrearage.
It in no way makes the tenants responsible for arrearages, which remain the obligation of the landlord.
The managers also did not collect the arrearages at the time of the sublease, he said, although the owner was being paid "up front" and had the money.
Reduction of the length of time for arrearages of PIPP
The Lease Modification Agreement halts those proceedings, but does not affect the arrearages or the terms of the original lease.
The audited consolidated statements of operations for the years ended December 31, 2001 and 2002, the unaudited consolidated statements of operations for the quarterly periods ended March 31, 2003 and June 30, 2003, and the unaudited statement of operations for the six months ended June 30, 2003, have been restated to reflect the change in fair value of the derivative debt instrument and to revise the cumulative dividend arrearages and premium accretion on preferred stock for each period.
San Pedro's rating was previously placed on Rating Watch Negative late last year following nonpayment and arrearages by both CDE and the Dominican government, which led the facility to shutdown its units in August 2002 and again in October 2002.
In addition to the election of directors, the company is presenting a plan to its stockholders for approval that eliminates the company's preferred stock dividend arrearages, any future cumulative dividends and the mandatory sinking fund requirements of its issued and outstanding preferred stock, $1.
The rating was previously placed on Rating Watch Negative late last year following non-payment and arrearages by both the project's offtaker, Corporacion Dominicana de Electricidad (CDE), and the Dominican government, which led San Pedro to shutdown its units in August 2002 and again in October 2002.