Common use of Corrective Plans Clause in Contracts

Corrective Plans. Within 30 days of sending a notice to RUS under paragraph (e) of this section, or of being notified by RUS, whichever is earlier, the Borrower in consultation with RUS, shall provide a written plan satisfactory to RUS setting forth the actions that shall be taken to achieve the required Coverage Ratios on a timely basis.

Appears in 2 contracts

Sources: Rus Loan Contract, Rus Loan Contract