FINANCIAL RELIEF. 85. PEAKS has not acquired and will not acquire loans other than the Loans, does not and will not conduct business other than Loan Program business, and will cease conducting all business upon the completion of its obligations as set out in this Assurance. It is currently anticipated that PEAKS will begin the process of dissolution, winding up and termination promptly after completion of its obligations under the Redress Plan, the Bureau Order, and this Assurance. As laid out more fully in paragraph 113, the States are not seeking injunction, compliance, and reporting requirements relating to the subject matter of this Assurance beyond those specified in this Assurance.
FINANCIAL RELIEF. Programmes If you experience financial difficulties, we may allow you to pay reduced minimum payments for a limited period (a ‘Financial Relief Programme’). We may also reduce the interest rates applicable to your account for a specified time. We’ll confirm any conditions attached to your Financial Relief Programme with you in writing, including details of how your minimum payment is calculated and confirmation of the duration of the programme. We’ll then update you using your periodic statements, including reminding you when your Financial Relief Programme will come to an end. The minimum payment amount will always be at least equal to any interest, default fees and 1/12th of any annual cardmembership fee or the full monthly fee (if applicable to the product you hold) plus 1% of the amount you owe on the account upon entry into the Financial Relief Programme (subject to a minimum of £5). If you miss two or more payments whilst you are in a Financial Relief Programme, the programme may end. When a Financial Relief Programme ends (either because you have exited from the Programme or because the programme has come to an end) your minimum payments will be calculated in the same way as they were before you entered into the Financial Relief Programme. This is explained in “How we calculate your minimum payment due” above.
FINANCIAL RELIEF o Section 37.1: A Club may request that the Agreement be reopened due to financial hardship by providing the Union with written notice of financial hardship (“Financial Hardship Notice”) to the Union. APPENDIX A
FINANCIAL RELIEF. Within thirty (30) days from the date that this Agreement is both: (a) fully executed and (b) approved by the Court (the “Effective Date”), Defendants shall pay in total $2,200,000 in financial compensation (the “Settlement Payment”) to the City, Relator, Relator’s Counsel, and Eligible Homeowners, as defined below, in the manner described below.
