Creditor Institutions definition

Creditor Institutions means the banks referred to in article 3 of the Banking Law no. 5411, and companies referred to in article 3 of the Financial Leasing, Factoring and Financing Corporations Law No. 6361, and banks and other financial institutions established abroad which have directly made loan facilities available to debtors, and multilateral banks and institutions making direct investments in Turkey, and special purpose vehicles to be founded by these creditors for recovery and collection of their receivables, and investment funds founded for the same purpose under the Capital Market Law no. 6362; and
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Creditor Institutions means the banks referred to in article 3 of the Banking Law no. 5411 dated 19/10/2005, and firms referred to in article 3 of the Financial Leasing, Factoring and Financing Corporations Law No. 6361, Debtor means the companies, other than the institutions subject to the Banking Law no. 5411 dated October 19, 2005, the Capital Market Institutions referred to in Article 35 of the Capital Markets Law no. 6362 dated December 06, 2012, institutions governed by the Insurance Law no. 5684 dated June 03, 2007, institutions governed by the Law on Financial Leasing, Factoring and Finance Companies no. 6361 dated November 21, 2012, institutions governed by the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Service Providers no. 6493 dated June 20, 2013.
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Creditor Institutions means all: (i) financial institutions, consortium administrators or leasing companies authorized to operate by the BCB; (ii) simple credit companies (ESC), governed by Complementary Law No. 167, as of April 24, 2019; or (iii) other legal entities that operate with fiduciary alienation, reservation of ownership or pledge;
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Examples of Creditor Institutions in a sentence

  • Any provision of this Framework Agreement may be amended provided that the relevant amendment is accepted by all the Creditor Institutions being a party to this Framework Agreement and approved by the Board.

  • The Creditor Institutions which intend to become a party to this Framework Agreement, are not allowed to sign this Framework Agreement by excluding or amending some provisions thereof, or by adding new provisions, or by imposing certain conditions, or by putting reservations thereon.

  • Now and therefore, we are hereby requesting your Creditor Institution to lead the creation of a consortium for this purpose with the participation of the Creditor Institutions and if deemed necessary and if accepted by them, with the participation of some other or all other creditor persons and entities as well.

  • Accordingly, your Corporation is hereby authorized to conduct the financial restructuring negotiations jointly and in coordination with other Creditor Institutions.

  • To this end, provisions regarding the collection and distribution of collateralized receivables and the foreclosure of collaterals shall be included in the FRC to be concluded with the relevant debtor and in the contracts to be concluded among the Creditor Institutions, if deemed necessary.

  • In the event that an agreement executed with a debtor under the Framework Agreements is accepted by at least two-thirds in terms of the amount of receivables of the Creditor Institutions, then, all of the Creditor Institutions which have signed the Framework Agreement shall be under obligation to restructure the receivables and to comply with the provisions pertaining to the Financial Restructuring process.

  • Any encumbrances, other than pledges/mortgages, previously established on assets and properties to be collateralized proportionately by the Creditor Institutions which are a party to the FRC, shall be annulled upon the establishment of the proportional collateral.

  • If it is deemed necessary to write-off or convert into equity participation the full amount or a part of the principal sum of debts or to make collections in kind, then, actions specified in subparagraphs (d) and (e) of first paragraph of article II of this Agreement, may be taken only with an affirmative decision taken unanimously by the Creditor Institutions enrolled in CCI.

  • Annexes: Application Form and Letter of Undertaking Panel of Referees Title of the Creditor Institution Our Company is in a financial distress, and believes that it will be able to continue its economic activities in an effective manner if a Financial Restructuring (FR) to be formed by the Creditor Institutions is applied on it.

  • These security will be established pro rata in favor of the Creditor Institutions.