Workout activities definition

Workout activities means those actions by which a holder, at
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Workout activities means those actions by which a holder, at any time prior to foreclosure and its equivalents, seeks to prevent, cure, or mitigate a default by the borrower or obligor; or to preserve, or prevent the diminution of, the value of the security. Workout activities include: Restructuring or renegotiating the terms of the security interest; requiring payment of additional rent or interest; exercising forbearance; requiring or exercising rights pursuant to an assignment of accounts or other amounts owed to an obligor; requiring or exercising rights pursuant to an escrow agreement pertaining to amounts owed to an obligor; providing specific or general financial or other advice, suggestions, counseling, or guidance; and exercising any right or remedy the holder is entitled to by law or under any warranties, covenants, conditions, representations, or promises from the borrower.
Sample 1Sample 2Sample 3
Workout activities means those actions by which a
Sample 1Sample 2Sample 3

Examples of Workout activities in a sentence

  • To facilitate this reporting, Genworth has joined with all MI Companies in the adoption of a new standardized reporting template with which Servicers can report all their Loan Workout activities.

  • Workout activities For the purposes of Template 3 with clear distinction to the respective columns per exposure category, the following data shall be filled-in:Total Denounced Exposures.

  • Workout activities include either the restructuring of loans to facilitate their eventual settlement or taking legal action as is appropriate for each NPL.

  • Servicers must adhere to applicable Investor guidelines for Default servicing and Workout activities.

  • Servicer Requirements–Servicers must adhere to applicable Investor guidelines for Default servicing and Workout activities.

  • The value of collateral reported for “Total Denounced Exposures” shall reconcile with the respective data reported in Template 1 and Template 2.2. Workout activities For the purposes of Template 3 with clear distinction to the respective columns per exposure category, the following data shall be filled-in: Total Denounced Exposures.

Related to Workout activities

  • Project Activities means the activities to be undertaken or Works to be delivered or Property to be contributed or provided by you, your approved Sub-Grantees or your approved sub- contractors as summarised in the Particulars and more particularly described in the Agreed Proposal for which Xxxxx is payable under this Agreement;

  • Permitted Activities The primary activities of the trust created pursuant to this Agreement which shall be:

  • Activities has the meaning specified in Section 7.02(b).

  • Extracurricular activities means: a voluntary activity sponsored by the school or local education agency or an organization sanctioned by the local education agency. Extracurricular activities include, but are not limited to, preparation for and involvement in public performances, contests, athletic competitions, demonstrations, displays, and club activities.

  • Interscholastic Activities means athletic or non-athletic/academic activities where students compete on a school vs. school basis.

  • Intrascholastic Activities means athletic or non-athletic/academic activities where students compete with students from within the same school.

  • Collaborative agreement means a voluntary, written, or electronic arrangement between one