Debt Relief definition

Debt Relief means the amount of debt forgiveness (up to 25% of the Total Settlement Amount, or $1,875,000) owed by Class Members to Defendant. Debt Relief cannot be used to offset or reduce Individual Settlement Payments to Class Members. Debt Relief, for purposes of this settlement, means verifiable balances owed by Class Members to Defendant. Defendant shall cooperate with Plaintiffs' reasonable requests to confirm the value of the Debt Relief, and the identities of those Class Members who will receive Debt Relief. Further, Defendant shall ensure the accuracy of the Debt Relief by, among other things, supplying a sufficient declaration under penalty of perjury when Plaintiffs seek approval of this Settlement Agreement. Here, the parties agree and acknowledge that the Debt Relief relates to charges,
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Debt Relief means the reduction of debt for consideration that is less than the face value of the debt;
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Debt Relief means in court debt-restructuring. In Danish "gældssanering".
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Examples of Debt Relief in a sentence

  • Unless the context otherwise requires, the several terms defined in the Debt Relief Agreement and in the Preamble to this Agreement have the respective meanings therein set forth, and “Identified Debt” means the debt listed in Schedule 2 (a) to the Debt Relief Agreement.

  • Tenant or any guarantor of Tenant’s obligations hereunder (a) makes a general assignment for the benefit of creditors, (b) commences any Proceeding for Debt Relief, (c) becomes the subject of any Proceeding for Debt Relief that is not dismissed within 60 days of its filing or entry, or (d) dies or suffers a legal disability (if Tenant or Guarantor is an individual) or is dissolved or fails to maintain its legal existence (if Tenant or Guarantor is a corporation, partnership or other entity).

  • We have successfully gained Debt Relief Orders for five clients since April 2009 with the help of Sevenoaks/Swanley Bureau.

  • The making of a Debt Relief Order or Bankruptcy Order will not prevent the Council from applying for a court order to take back the Property.

  • Fresh Start UK Debt Management Limited offers all-around debt advice and a full range of Debt Solutions for all UK legal jurisdictions (i.e. England & Wales, Scotland and Northern Ireland), including Debt Management Plans (DMP), Individual Voluntary Arrangements (IVA), Protected Trust Deeds (PTD), Debt Arrangement Schemes (DAS/DPP), Bankruptcy Assistance and Debt Relief Orders (DRO).

  • TA will, and hereby does, unconditionally agree to pay the United States, HHS, and the Medicaid Participating States the due and punctual payment of forty-five percent (45%) of up to $50.0 million of the Guaranteed Payment that is subject to an Avoidance Event, pursuant to a final order in a Debt Relief Action (as defined below) and required to be disgorged and disgorged.

  • MLH will, and hereby does, unconditionally agree to pay the United States, HHS, and the Medicaid Participating States the due and punctual payment of fifty- five percent (55%) of up to $50.0 million of the Guaranteed Payment that is subject to an Avoidance Event, pursuant to a final order in a Debt Relief Action (as defined below) and required to be disgorged and disgorged.

  • For each Prevailing Claimant who is delinquent in payment on a FSA loan, USDA will offer an additional round of loan servicing to each such claimant within 120 days of (a) the Claims Determination, or (b) the distribution of a Debt Relief Award to each such claimant, whichever date is later.

  • If Class Counsel has expended funds to pay Final Track A Liquidated Awards, Final Track A Liquidated Tax Awards, Final Track B Awards and Debt Relief Tax Awards during the reporting period, Class Counsel shall also identify the number of such awards.

  • The Court shall retain jurisdiction over this action to supervise the distribution of the Fund and to ensure that Debt Relief Awards issued by the Track A and Track B Neutrals are applied by USDA, subject to both the limitations provided in IX.E of this Agreement and not to exceed the cap of $80 million.

Related to Debt Relief

  • Debt Repayment means the repayment, prepayment, repurchase or defeasance of the Indebtedness of the Borrower under the Indebtedness that is identified on Schedule 1.1(g) to the Original Credit Agreement and that is repaid, prepaid, repurchased or defeased on the Original Closing Date (or such later date as may be necessary to effect the Debt Repayment in accordance with the tender offers therefor).

  • Debt Representative means, with respect to any series of Indebtedness, the trustee, administrative agent, collateral agent, security agent or similar agent or representative under the indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each of their successors in such capacities.

  • Other Debt Representative means, with respect to any series of Permitted First Priority Refinancing Debt or Permitted Second Priority Refinancing Debt, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each of their successors in such capacities.

  • Second Lien With respect to each Mortgaged Property, the lien of the mortgage, deed of trust or other instrument securing a Mortgage Note which creates a second lien on the Mortgaged Property.

  • Class Debt Representatives has the meaning assigned to such term in Section 8.09.