Workout Application Sample Clauses

Workout Application. An Eligible Financial Creditor may despatch a Workout Application to as many of the Financial Creditors of a Debtor as is reasonably practicable provided that the Claims of all Financial Creditors of the Debtor Company comprise at least [90%] of the Debtor Company's total indebtedness excluding indebtedness to its Related Parties. [This percentage may be too high in some jurisdictions. In some jurisdictions a percentage figure of 70% or 75% may be more appropriate.] [In some jurisdictions it may be necessary to obtain the consent of the debtor prior to dispatch of a workout agreement due to confidentiality/liability concerns. Whether a workout application procedure coupled with an initial standstill period is acceptable or appropriate in such jurisdictions may also be a relevant consideration.]
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Related to Workout Application

  • Application Process The employees wishing to enter into a job share arrangement will apply in writing to the Employer and forward a copy to the Union outlining the proposed commencement date of the job share, how the hours and days of work will be shared and how communication and continuity of work will be maintained. The Employer shall communicate a decision on a job share request in writing to the applicants. Applications to Job Sharing shall not be unreasonably denied.

  • Provisional Application Upon signature of this Compact, and until this Compact has entered into force in accordance with Section 7.3, the Parties will provisionally apply the terms of this Compact; provided that, no MCC Funding, other than Compact Implementation Funding, will be made available or disbursed before this Compact enters into force.

  • Application Procedure 7.4.1. Application Priority........................................ 7.4.2. [Reserved].................................................. 7.4.3. Advance Payments............................................

  • Proof of Loss; Application of Proceeds In the event of loss, Borrower must give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Xxxxxxxx. Any insurance proceeds, whether or not the underlying insurance was required by Lender, will be applied to restoration or repair of the Property, if Lender deems the restoration or repair to be economically feasible and determines that Lender’s security will not be lessened by such restoration or repair. If the Property is to be repaired or restored, Lender will disburse from the insurance proceeds any initial amounts that are necessary to begin the repair or restoration, subject to any restrictions applicable to Lender. During the subsequent repair and restoration period, Xxxxxx will have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction (which may include satisfying Lender’s minimum eligibility requirements for persons repairing the Property, including, but not limited to, licensing, bond, and insurance requirements) provided that such inspection must be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed, depending on the size of the repair or restoration, the terms of the repair agreement, and whether Borrower is in Default on the Loan. Lender may make such disbursements directly to Borrower, to the person repairing or restoring the Property, or payable jointly to both. Lender will not be required to pay Borrower any interest or earnings on such insurance proceeds unless Lender and Borrower agree in writing or Applicable Law requires otherwise. Fees for public adjusters, or other third parties, retained by Xxxxxxxx will not be paid out of the insurance proceeds and will be the sole obligation of Borrower. If Lender deems the restoration or repair not to be economically feasible or Lender’s security would be lessened by such restoration or repair, the insurance proceeds will be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds will be applied in the order that Partial Payments are applied in Section 2(b).

  • 000 APPLICATION FOR PROJECT AGREEMENT 1.100 Any Company desiring to enter into a Project Agreement for Maintenance by Contract, must appear before the General Presidents' Committee (hereinafter the "Committee") for purposes of review and orientation and present to the Committee written evidence of the Owner's intent to engage that Company in the performance of maintenance service for a minimum period of one full year, subject to the usual termination clauses in such contracts.

  • Application for Promotion Employees who have successfully completed their initial probationary period may make application for any Job Posting provided they meet the minimum, stated qualifications for the involved position; provided, however, that employees who have failed a promotional probationary period in a classification shall not be permitted to take an examination for promotion to that classification within twelve (12) months of the date of such failure.

  • Completed Application Your rental application for Residents and Occupants will not be considered “complete” and will not be processed until we receive the following documentation and fees:

  • Application of Settlement Agreement 10.1 This Settlement Agreement shall apply to, be binding upon, and inure to the benefit of, CAG and the Releasees and Downstream Releasees identified in Section 2 above.

  • SCOPE & APPLICATION 5.1 This Agreement shall apply in the state of Victoria to: ⮚ The company in respect to all of its employees engaged in building and construction work as defined by the award. ⮚ Employees of the company who are engaged in any of the occupations, callings or industries specified in the award. ⮚ The CFMEU (Building Unions Division and FEDFA Division) Victorian Branch.

  • Application Form By electronically signing or submitting the Application Form you:

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