SUBSTANDARD Clause Samples
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SUBSTANDARD. PREMIUMS Premiums will be increased by any Flat Extra Premium as shown in Schedule IV, charged the insured on the face amount initially reinsured. Premiums will be increased by any substandard premium as shown in Schedule IV, charged the insured on the net amount at risk reinsured.
SUBSTANDARD. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidations of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful – Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values highly questionable and improbable. Loss - This classification includes those loans which are considered uncollectible and of such little value that their continuance as loans is not warranted. Even though partial recovery may be possible in the future, it is not practical or desirable to defer writing off these loans. Accordingly, these loans are charged-off before period end. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-rated loans.
SUBSTANDARD. You still have not made any payment 91 until 120 calendar days after the Due Date. Under this status, we will impose interest and fees applicable, collect the outstanding amount and block the Card.