Loan restructuring definition

Loan restructuring means any change, amendment or modification of the terms of any Loan Asset, including by: adjusting interest rates, adjusting the outstanding principal balance; adjusting amortization; changing payment schedules; changing maturity dates; changing or waiving events of default or covenants; releasing or obtaining collateral; granting releases of certain rights against borrowers (or their affiliates) or guarantors; entering into new intercreditor agreements; amending operating agreements and partnership agreements under which any of the Obligors is a manager, member or partner; entering into or withdrawing as a member or manager under any operating agreement or partnership agreement to which any of the Obligors is a manager, member or partner; amending, modifying or terminating servicing agreements under which any of the Obligors is a servicer; amending, modifying or terminating any origination agreements under which any of the Obligors is a party; amending, modifying or terminating any fee agreements to which any of the Obligors is a party; amending, modifying or terminating any guaranty agreements and/or indemnity agreements to which any of the Obligors is a party; adjusting covenants; obtaining equity interests in borrowers; granting forbearances; voting on chapter 11 plans of borrowers; converting debt to equity; allowing third-party debt and/or equity; and/or negotiating, amending, or modifying any other terms and conditions of the underlying Loan Asset.

Loan restructuring. - means the facility that lending institutions provide for borrowers because of their financial difficulties caused by COVID-19 and the support for their recovery. These measures (or facilities) include:

Loan restructuring. - means the facilities the bank or the financial institution provides to the borrowers due to their financial difficulties arising from either economical or legal reasons. These facilities shall not apply to other situations and in general shall include: facilities on lending terms & conditions by amending one or some contract terms (including product change and interest capitalisation), which mainly relate to the term to maturity, (principal) and interest rate, collateral execution or other assets for the partial payment on loan, replacement of the original borrower or involvement of an additional one [1].

Examples of Loan restructuring in a sentence

• This addendum forms an annex to, and an integral part of the Loan Restructuring Agreement with the Lender and all words and expressions contained in the aforesaid Loan Restructuring Agreement will bear the same meaning in this addendum unless the contrary appears from the context.

• In the event that the Loan was disbursed during the “cooling off” period, the Borrower may cancel the Loan Restructuring Agreement, provided that the Restructured Loan Amount and pro-rata finance charges are the Restructured Loan Amount repaid simultaneously with the letter of cancellation.

• The Loan Restructuring Application shall be subject to an affordability assessment and confirmation of affordability of the Borrower.

• The Borrower is advised and undertakes to obtain independent legal and financial advice during this “cooling off” period regarding any term or condition of the Loan Restructuring Agreement.

• The Borrower has the right to terminate this Loan Restructuring Agreement by written notice to the Lender before disbursement of the Loan.

More Definitions of Loan restructuring

Loan restructuring. - means the facility that Bhanix provides to the borrowers due to their financial difficulties arising from either economic or legal reasons.

Loan restructuring means the facilitation that lending institutions do for borrowers due to their financial difficulties caused by Covid-19 and the support for their recovery. These measures (or facilitations) include:

Loan restructuring. – shall mean the facility/facilities the institution makes for the borrower/borrowers owing to their financial difficulties, due to economic or legal causes, which are not made by the institution in no other occasion, and in general shall include:

Loan restructuring means the facility/-ies the bank applies to the borrower/-s due to their financial difficulties arising from economic or legal reasons, which are not carried out by the bank in any other case and in general include:

Loan restructuring means a restructuring and revision of the amount and terms of the Revolving Credit Facility, the Collateral therefor, and any Related Document in connection therewith, satisfactory to Lender in its sole and complete discretion.”

Loan restructuring means an update of the existing Loan Agreement concluded between the Investors, that are represented by the Operator, and the Borrower, where the term of the repayment of the loan under the existing Loan Agreement is prolonged for a certain period of time;

Loan restructuring. The meaning specified in Section 7.21(b).