Estimated Loss Payments a. If a borrower has filed for reorganization and protection under Title 11 of the United States Code and the debt has been reduced, the Lender will request a tentative estimated loss payment of accrued interest and principal written off under the order of the court. This request can only be made after the bankruptcy plan is confirmed. Only one estimated loss payment is allowed during the bankruptcy process. All subsequent claims during reorganization will be considered revisions to the initial estimated loss. A revised estimated loss payment may be processed by USDA, at its option, in accordance with any court approved changes in the reorganization plan. At the time the performance under the confirmed reorganization plan has been completed, the Lender is responsible for providing USDA with the documentation necessary to review and adjust the estimated loss claim to (a) reflect the actual principal and interest reduction on any part of the guaranteed debt determined to be unsecured and (b) to reimburse the Lender for any court ordered interest rate reduction during the term of the reorganization.
Estimated Loss Payments a. If a borrower has filed for protection under a reorganization bankruptcy, the Lender will request a tentative estimated loss payment of accrued interest and prin- cipal written off. This request can only be made after the bankruptcy plan is confirmed by the court. Only one estimated loss pay- ment is allowed during the reorganization bankruptcy. All subsequent claims during re- organization will be considered revisions to the initial estimated loss. A revised esti- mated loss payment may be processed by FmHA or its successor agency under Public Law 103–354, at its option, in accordance with any court approved changes in the reorga- nization plan. At the time the performance under the confirmed reorganization plan has been completed, the Lender is responsible for providing FmHA or its successor agency under Public Law 103–354 with the docu- mentation necessary to review and adjust the estimated loss claim to (a) reflect the ac- tual principal and interest reduction on any part of the guaranteed debt determined to be unsecured and (b) to reimburse the Lender for any court ordered interest rate reduction during the term of the reorganization plan.
Estimated Loss Payments. See para- graph XVI of Form FmHA or its suc- cessor agency under Public Law 103–354 449–35. Administrative Refer to Appendix G of this subpart (avail- able in any FmHA or its successor agency under Public Law 103–354 office) for advice on how to interact with the lender on liquida- tion and property management.
Estimated Loss Payments. (i) If a borrower has filed for bankruptcy and all or a portion of the debt has been discharged, the lender must request an estimated loss payment of the xxxxxx- xxxx portion of the accrued interest and principal discharged by the court. Only one estimated loss payment is al- lowed during the bankruptcy. All sub- sequent claims of the lender during bankruptcy will be considered revisions to the initial estimated loss. A revised estimated loss payment may be proc- essed by the Agency, at its option, in accordance with any court-approved changes in the bankruptcy plan. Once the bankruptcy plan has been com- pleted, the lender is responsible for submitting the documentation nec- xxxxxx for the Agency to review and ad- just the estimated loss claim to reflect any actual discharge of principal and interest and to reimburse the lender for any court-ordered interest-rate re- duction under the terms of the bank- ruptcy plan.
Estimated Loss Payments. (i) If a Borrower has filed for bankruptcy and all or a portion of the debt has been discharged, the Lender must request an estimated loss payment of the xxxxxx- xxxx portion of the accrued Interest and principal discharged by the court. Only one estimated loss payment is al- lowed during the bankruptcy and any related appellate proceedings. All sub- sequent claims of the Lender during bankruptcy and any related appellate proceedings will be considered revi- sions to the initial estimated loss. A revised estimated loss payment may be processed by the Agency, at its option, in accordance with any court-approved changes in the bankruptcy plan. Once the bankruptcy plan has been com- pleted, the Lender is responsible for submitting the documentation nec- xxxxxx for the Agency to review and ad- just the estimated loss claim to reflect any actual discharge of principal and Interest and to reimburse the Lender for any court-ordered Interest rate re- duction under the terms of the bank- ruptcy plan.
