Debt counselling Clause Samples

Debt counselling. If you are experiencing difficulty in meeting your financial obligations under your credit agreement, you have the right to apply to a debt counsellor for a declaration that you are over-indebted and for rearrangement of your financial obligations under the credit agreement. If the debt counsellor determines that you are over-indebted, the debt counsellor will propose a rearrangement of your financial obligations. If we agree with the proposal, your financial obligations under the credit agreement will be rearranged under a Magistrate’s Court/National Consumer Tribunal order. If we do not agree to the proposal, the debt counsellor will refer it to a Magistrate’s Court/National Consumer Tribunal which may exercise its power to rearrange your financial obligations under the credit agreement.
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Debt counselling. If the Act applies, the Customer may apply to a Debt Counsellor in the prescribed manner and form to have himself/herself declared over-indebted. An application in terms of Section 86 of the Act, may not be made in respect of, and does not apply to, a particular credit agreement if, at the time of that application, a credit provider under that credit agreement has proceeded to take the steps stipulated in Section 129 of the Act to enforce that agreement. A Debt Counsellor who has accepted an application must determine, in the prescribed manner and in the prescribed time, whether the Customer appears to be over-indebted, and if the Customer seeks a declaration of reckless credit, whether any of the Customer’s credit agreements appear to be reckless. If a Debt Counsellor rejects an application then the Customer, with leave of the Magistrate’s Court, may apply directly to the Magistrate’s Court.
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Debt counselling. The Debt Counselling benefit provides you with access to persons who will negotiate with Your creditors on Your behalf, for reduced monthly repayments when You cannot afford to meet Your monthly debt obligations.
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Debt counselling. If you are an individual, a stokvel, or a trust with less than three trustees, none of whom is a juristic person, (i.e. you are not an NCA juristic person) and you experience difficulty in meeting your financial obligations under your credit agreement, you have the right to apply to a debt counsellor for a declaration that you are over-indebted and for re-arrangement of your financial obligations under the credit agreement. If the debt counsellor determines that you are over-indebted, the debt counsellor will propose a re-arrangement of your financial obligations. If we agree to the proposal, your financial obligations under the credit agreement will be re-arranged under a Magistrates Court/National Consumer Tribunal order. If we do not agree to the proposal, the debt counsellor will refer it to a Magistrates Court/National Consumer Tribunal, which may exercise its power to re-arrange your financial obligations under the credit agreement.
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Debt counselling. If the consumer is an individual, a stokvel or a trust with less than 3 (three) trustees, none of whom is a juristic person (the consumer is not an NCA justice person) and the consumer experience difficulty in meeting their financial obligations under the Credit Provider’s credit agreement, the consumer has the right to a debt councellor for a declaration that the consumer is over-indebted and for re-arrangement of financial obligations under the credit agreement.
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Related to Debt counselling

  • Agent Counsel Legal Opinion Agent shall have received from ▇▇▇▇▇▇ LLP, counsel for Agent, such opinion or opinions, on or before the date on which the delivery of the Company counsel legal opinion is required pursuant to Section 4(p), with respect to such matters as Agent may reasonably require, and the Company shall have furnished to such counsel such documents as they request for enabling them to pass upon such matters.

  • Counselling Counselling for affected employees and family will be made available as necessary.

  • Legal Counsel Opinions Upon the request of the Buyer from to time to time, the Company shall be responsible (at its cost) for promptly supplying to the Company’s transfer agent and the Buyer a customary legal opinion letter of its counsel (the “Legal Counsel Opinion”) to the effect that the resale of the Conversion Shares and/or Exercise Shares by the Buyer or its affiliates, successors and assigns is exempt from the registration requirements of the 1933 Act pursuant to Rule 144 (provided the requirements of Rule 144 are satisfied and provided the Conversion Shares and/or Exercise Shares are not then registered under the 1933 Act for resale pursuant to an effective registration statement) or other applicable exemption (provided the requirements of such other applicable exemption are satisfied). In addition, the Buyer may (at the Company’s cost) at any time secure its own legal counsel to issue the Legal Counsel Opinion, and the Company will instruct its transfer agent to accept such opinion. The Company hereby agrees that it may never take the position that it is a “shell company” in connection with its obligations under this Agreement or otherwise.

  • Agent’s Counsel Legal Opinion The Agent shall have received from ▇▇▇▇▇▇ & ▇▇▇▇▇▇▇ LLP, counsel for the Agent, such opinion or opinions, on or before the date on which the delivery of the Company Counsel legal opinion is required pursuant to Section 7(n), with respect to such matters as the Agent may reasonably require, and the Company shall have furnished to such counsel such documents as they may request to enable them to pass upon such matters.

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