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 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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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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Examples of Workout Loans in a sentence

  • Documentation normally shows that the credit union’s personnel communicated with the borrower, the borrower agreed to pay the loan in full under any new terms, and the borrower has the ability to repay the loan under any new terms.Regulatory Reporting of Workout Loans Including TDR Past Due StatusThe past due status of all loans will be calculated consistent with loan contract terms, including amendments made to loan terms through a formal restructure.

  • Doc- umentation normally shows that the credit union’s personnel communicated with the borrower, the borrower agreed to pay the loan in full under any new terms, and the borrower has the ability to repay the loan under any new terms.Regulatory Reporting of Workout Loans Including TDR Past Due StatusThe past due status of all loans will be cal- culated consistent with loan contract terms, including amendments made to loan terms through a formal restructure.

  • Assist the Company with hold/sell analysis for Workout Loans as requested.

  • Restoration of Member Business Workout Loans to AccrualThirteen FICUs and eight leagues stated they saw no justification for treating MBLs differently than consumer/residential loans.

  • Provide reports on the following activities in a standardized format and frequency: ReportFrequencyStatus of all Review RequestsDailyStatus of all Workout Loans in Active ManagementWeeklyReport for use in tracking the loan loss rateMonthlyStatus of LoansOn requestFor customize or ad-hoc reports, Supplier will use commercially reasonable efforts to provide the report in a timely manner.

  • Whilst the discretion of the Collateral Manager to purchase Workout Loans may permit the Collateral Manager to more significantly participate in restructuring processes, proceeds which may have otherwise been utilised for the purchase of Collateral Obligations may be used to purchase Workout Loans and there is no guarantee that the acquisition of Workout Loans will serve to maintain or improve the value of the related Defaulted Obligations or Credit Risk Obligation held by the Issuer.

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

  • Assist the Company in developing reporting for Workout Loans, including content and frequency.

  • Regulatory Reporting of Workout Loans Including TDR Past Due Status The Board recognizes that loan workouts that qualify under GAAP as TDRs require special financial reporting considerations.

  • See discussions on the latter point in the 2006 Interagency ALLL Policy Statement transmitted by Accounting Bulletin 06-1 (December 2006).Regulatory Reporting of Workout Loans Including TDR Past Due StatusThe past due status of all loans will be calculated consistent with loan contract terms, including amendments made to loan terms through a formal restructure.


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 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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Related to Workout Loans

  • 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 made under the First Lien Credit Agreement.

  • Second Lien Loans means “Loans” under and as defined in the Second Lien Credit Agreement.

  • 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 the Refinancing Revolving Loans and the Refinancing Term 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 has the meaning assigned to such term in Section 2.26(a).

  • 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 as defined in Section 2.1.

  • 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 has the meaning specified in Section 2.17(a).

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(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.

  • Bank Loans means debt obligations (including term loans, notes, revolving loans, debtor-in-possession financings, the funded and unfunded portion of revolving credit lines and letter of credit facilities and other similar loans and investments including interim loans and senior subordinated loans) which are generally under a loan or credit facility (whether or not syndicated) or note purchase agreement.