Workout Loans definition

Workout Loans means (a) those Mortgage Loans with respect to which the Mortgage Loan Obligors have had insufficient cash flow and/or negative economic events which have diminished their ability to make timely and/or complete payments and PMC has given its concurrence to an alternative schedule of repayment, and (b) those Mortgage Loans previously classified as Loans in Litigation which have been brought current by the Mortgage Loan Obligors. Workout Loans will be maintained in this category for a minimum of six (6) months and will be designated as performing (and therefore no longer a Workout Loan) if, based upon payment history under the revised plan (or existing payment plan with respect to Mortgage Loans previously classified as Mortgage Loans in Litigation which have been brought current), financial information when available, and PMC’s professional opinion of each situation, it appears that it is no longer a problem loan.
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Workout Loans means (a) those Mortgage Loans with respect to which the Mortgage Loan Obligors have had insufficient cash flow and/or negative economic events which have diminished their ability to make timely and/or complete payments and PMC has given its concurrence to an alternative schedule of repayment, and (b) those Mortgage Loans previously classified as Loans in Litigation which have been brought current by the Mortgage Loan Obligors. Workout Loans will be maintained in this category for a minimum of six(6) months and will be designated as performing (and therefore no longer a Workout Loan) if, based upon payment history under the revised plan (or existing payment plan with respect to Mortgage Loans previously classified as Mortgage Loans in Litigation which have been brought current), financial information when available, and PMC’s professional opinion of each situation, it appears that it is no longer a problem loan.
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Workout Loans means (a) those Mortgage Loans with respect to which the Mortgage Loan Obligors have had insufficient cash flow and/or negative economic events which have diminished their ability to make timely and/or complete payments and Borrower has given its concurrence to an alternative schedule of repayment, and (b) those Mortgage Loans previously classified as Loans in Litigation which have been brought current by the Mortgage Loan Obligors. Workout Loans will be maintained in this category for a minimum of six (6) months and will be designated as performing (and therefore no longer a Workout Loan) if, based upon payment history under the revised plan (or existing payment plan with respect to Mortgage Loans previously classified as Mortgage Loans in Litigation which have been brought current), financial CREDIT AGREEMENT PMC COMMERCIAL TRUST information when available, and Borrower's professional opinion of each situation, it appears that it is no longer a problem loan. "Year 2000 Compliant" is defined in Section 7.20(a).
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Examples of Workout Loans in a sentence

  • All Sale Proceeds from Workout Loans shall be treated as Principal Proceeds.

  • Assist the Company in determining appropriate reserves and charge-offs for Workout Loans.

  • All Collateral Obligations, Workout Loans, Restructured Loans and Specified Equity Securities shall be credited to the Custodial Account.

  • Except to the extent provided above, the acquisition of Workout Loans will not be required to satisfy the Investment Criteria.

  • Provide oversight to the valuation, specific reserve assessment, and charge-off processes for Workout Loans and doubtful credits, including communications, staffing, status reporting, coordinating stakeholders, reviewing deliverables and directing the valuation process.

  • All Collateral Obligations, Workout Loans, Equity Securities, Specified Equity Securities and Restructured Obligations shall be credited to the Custodial Account.

  • Establish a valuation framework, specific reserve assessment framework, and charge-off protocols for Workout Loans.

  • Interest Proceeds or Principal Proceeds which may otherwise be used to repay Holders can be used by the Collateral Manager to purchase Workout Loans in certain circumstances to the extent permitted pursuant to Condition 3(j) (Payments to and from the Accounts).

  • See Condition 17 (Additional Issuances).In addition, the Collateral Manager may, pursuant to the Priorities of Payments, redirect funds (including by deferring or waiving payment of some or all of its Collateral Management Fees) or the Participating Term Certificate Holders may in certain circumstances designate Reinvestment Amounts, in each case to be applied toward the acquisition of additional Collateral Obligations, Workout Loans or other Permitted Uses.

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More Definitions of Workout Loans

Workout Loans means (a) those Mortgage Loans with respect to which the Mortgage Loan Obligors have had insufficient cash flow and/or negative economic events which have diminished their ability to make timely and/or complete payments and the applicable Company has given its concurrence to an alternative schedule of repayment, and (b) those Mortgage Loans previously classified as loans in Litigation which have been brought current by the Mortgage Loan Obligors. Workout Loans will be maintained in this category for a minimum of six (6) months and will be designated as performing (and therefore no longer a Workout Loan) if, based upon payment history under the revised plan (or existing payment plan with respect to Mortgage Loans previously classified as Mortgage Loans in Litigation which have been brought current), financial information when available, and PMC’s professional opinion of each situation, it appears that it is no longer a problem loan. Amended and Restated Credit Agreement — Page 16 1.2 Time References. Unless otherwise specified, in the Credit Documents (a) time references (e.g., 10:00 a.m.) are to time in Dallas, Texas, and (b) in calculating a period from one date to another, the word “from” means “from and including” and the word “to” or “until” means “to but excluding.” 1.3 Other References. Unless otherwise specified, in the Credit Documents (a) where appropriate, the singular includes the plural and vice versa, and words of any gender include each other gender, (b) heading and caption references may not be construed in interpreting provisions, (c) monetary references are to currency of the United States of America, (d) section, paragraph, annex, schedule, exhibit and similar references are to the particular Credit Document in which they are used, (e) references to “telecopy,” “telefax,” “facsimile,” “fax” or similar terms are to facsimile or telecopy transmissions, (f) references to “including” mean including without limiting the generality of any description preceding that word, (g) the rule of construction that references to general items, following references to specific items are limited to the same type or character of those specific items is not applicable in the Credit Documents, (h) references to any Person include that Person’s heirs, personal representatives, successors, trustees, receivers and permitted assigns, (i) references to any Governmental Requirement include every amendment or supplement to it, rule and regulation adopted under it, an...
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Related to Workout Loans

  • Subject Loans has the meaning assigned to such term in Section 2.11(b)(ii).

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • First Lien Loans means the “Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • or "Loans means and includes without limitation any and all commercial loans and financial accommodations from Lender to Borrower, whether now or hereafter existing, and however evidenced, including without limitation those loans and financial accommodations described herein or described on any exhibit or schedule attached to this Agreement from time to time.

  • ABL Loans means the “Loans” as defined in the ABL Credit Agreement.

  • Related Loans has the meaning set forth in Section 3.1. “Restructuring Loss” means the loss on a modified or restructured loan measured by the difference between (a) the principal, Accrued Interest, tax and insurance advances, third party or other fees due on a loan prior to the modification or restructuring, and

  • Refinancing Loans means any Refinancing Term Loans or Refinancing Revolving Loans.

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.

  • Senior Loans means the loans and other extensions of credit made by the Senior Lenders to Borrower pursuant to the Senior Credit Agreement.

  • Initial Loans means the Eligible Loans evidenced by the Notes sold on the Closing Date pursuant to the Initial Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • Replacement Loans has the meaning specified in Section 10.01.

  • New Loans means Loans made by the Failed Bank after the Bid Valuation Date that are not continuations, amendments, modifications, renewals, extensions, refinancings, restructurings, or refundings of or for any then existing Loan.

  • Bridge Loans means the “Loans” as defined in the Bridge Credit Agreement.

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Term Loans means, collectively, the Tranche A Term Loans and the Tranche B Term Loans.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Student Loans means education loans to students and parents of students under the Federal Family Education Loan Program.

  • Extended Loans shall have the meaning assigned to such term in Section 2.21(a).

  • Revolving Loans as defined in Section 2.4(a).

  • Permitted Loans means:

  • Loan or Loans means, as the context may require, Revolving Loans and/or Swing Line Loans.

  • Other Loans means one or more Classes of Loans that result from a Refinancing Amendment or a Loan Modification Agreement.