Workout definition

Workout means any written modification, waiver, amendment, restructuring or workout of the Mortgage Loan or the Note entered into with the Mortgage Loan Borrower in accordance with the Servicing Agreement.

Workout shall have the meaning assigned to such term in Section 4(a).

Workout means a deed-in-lieu of foreclosure, a Third-Party Sale by the Borrower or any forbearance, modified repayment plan, or other modification of a loan.

Examples of Workout in a sentence

• For clarification, no obligation of the Master Servicer or the Special Servicer to use reasonable efforts to collect fees from the related Mortgagor will change the obligation of the Master Servicer to pay such fees from general collections or other proceeds in accordance with Section 3.06(a) and Section 3.06A(a) of this Agreement, whether or not such Special Servicing Fees, Workout Fees or Liquidation Fees are collected from or paid by the related Mortgagor.

• Cash contributions may be treated as Interest Proceeds if so directed by the holders of a Majority of the Preferred Shares (i) where necessary to cure or prevent any default or to permit the Interest Coverage Test to be satisfied, or if not satisfied, maintained or improved or (ii) to acquire a Workout Loan or Equity Security, and otherwise will be treated as Principal Proceeds; provided that any such designation shall be irrevocable.

• In each case, the Issuer’s acquisition of a Workout Loan will not be required to satisfy the Investment Criteria.

• The Collateral Manager may direct the Collateral Trustee to sell any Defaulted Obligation or any Workout Loan at any time.

More Definitions of Workout

Workout. Any written modification, waiver, amendment, restructuring or workout of a Specially Serviced Mortgage Loan or a related Mortgage Note entered into with a Mortgagor in accordance with Section 3.09 hereof.

Workout means any written modification, waiver, amendment or restructuring of the Mezzanine Loan or the Mezzanine Notes in connection with the forbearance by the Holders in whole or in part of exercising their remedies upon the occurrence of, or in anticipation of, an Event of Default under any Mezzanine Loan Document.

Workout means any written modification, waiver, amendment, restructuring or workout of the Mortgage Loan or the Note entered into with the Mortgage Loan Borrower in accordance with the Servicing Agreement, in each case, after the declaration of an Event of Default or after any other event that would constitute a “Servicing Transfer Event” under the Model PSA, prior to the First Securitization, or the Securitization Servicing Agreement, after the First Securitization.

Workout means multilateral efforts to restructure the outstanding Credits and the business of the Debtor.

Workout means multilateral efforts to restructure the outstanding financial obligations and the business of a Debtor pursuant to the Framework and the Debtor-Creditor Agreement on Debt Restructuring Process and to document and legally agree on the terms of any such restructure.

Workout has the meaning as defined in the Accord Among Financial Institutions for Promotion of Restructuring of Business Enterprises dated as of June 29, 1998.

Workout means generic conditioning activities engaged in by individual student athletes, including aerobic, agility, balance, flexibility, and resistance training.