Debt suspension agreement definition

Debt suspension agreement means a loan term or contractual arrangement modifying loan terms under which a bank agrees to suspend all or part of a customer's obligation to repay an extension of credit from that bank upon the occurrence of a specified event. The agreement may be separate from or a part of other loan documents. The term debt suspension agreement does not include loan payment deferral arrangements in which the triggering event is the borrower's unilateral election to defer repayment, or the bank's unilateral decision to allow a deferral of repayment.

Debt suspension agreement means a contract between a lender and a borrower where the lender, for a separately stated consideration, agrees to suspend scheduled installment payments for an agreed period of time in the event of a:

Debt suspension agreement means a loan or lease term, or other contractual arrangement modifying loan or lease terms, under which a financial institution agrees to suspend all or part of a customer’s obligation to repay an extension of credit from that financial institution upon the occurrence of a specified event. The agreement may be separate from, or a part of, other loan or lease documents. The term debt suspension agreement does not include loan or lease payment deferral arrangements in which the triggering event is the borrower’s unilateral election to defer repayment, or the financial institution’s unilateral decision to allow a deferral of repayment.

Examples of Debt suspension agreement in a sentence

• Synchronization between videos or other media is now required.Making it simpler, in order to construct a hypervideo we need to specify what should be display, where and when, in other words, we should specify its content, its spatial and its temporal layout.

• Th e a g r ee m e n t m ay be sep ara t e f r o m o r a p ar t of o t h e r lo an doc u m e n t s.( g) Debt suspension agreement m e an s a lo an t e r m o r co n t ra c t ua l arran ge m e n t m odify i n g lo an t e r m s un de r w h ic h a b an k a g r ees t o s u spe n d a ll o r p ar t of a c u s t o m e r’s oblig a t io n t o r ep ay an ex- t e n sio n of c r edi t f r o m t ha t b an k u po n t h e occ urr e n ce of a specified eve n t .

• The agreement may be separate from or a part of other loan documents.(g) Debt suspension agreement means a loan term or contractual arrangement modifying loan terms under which a bank agrees to suspend all or part of a customer’s obligation to repay an ex- tension of credit from that bank upon the occurrence of a specified event.

• We invite your comments on how to make the proposed rules easier to understand.List of Subjects 12 CFR Part 7Credit, Insurance, Investments, National banks, Reporting and recordkeeping requirements, Securities, Surety bonds.12 CFR Part 37 Banks, banking, Consumer protection, Debt cancellation contract, Debt suspension agreement, National banks, Reporting and recordkeeping requirements, Safety and soundness.

• Debt suspension agreement means a loan term or contractual arrangement modifying loan terms under which a bank agrees to suspend all or part of a customer’s obligation to repay an extension of credit from that bank upon the occurrence of a specified event.The agreement may be separate from or part of the other loan documents.

More Definitions of Debt suspension agreement

Debt suspension agreement means a loan term or contractual arrangement modifying loan terms under which a bank agrees to suspend all or part of a customer’s obligation to repay an ex- tension of credit from that bank upon the occurrence of a specified event. The agreement may be separate from or a12 CFR Ch. I (1–1–16 Edition)part of other loan documents. The term debt suspension agreement does not in- clude loan payment deferral arrange- ments in which the triggering event is the borrower’s unilateral election to defer repayment, or the bank’s unilat- eral decision to allow a deferral of re- payment.

Debt suspension agreement means a loan term or con- tractual arrangement modifying loan terms under which a credit union agrees to suspend all or part of a customer’s obligation to repay an extension of credit from that credit union upon the occur- rence of a specified event. The agreement may be separate from or a part of other loan documents. “Debt suspension agreement” does not include loan payment deferral arrangements in which the triggering event is the borrower’s unilateral election to defer repayment or the credit union’s unilateral decision to allow a deferral of repayment.

Debt suspension agreement means a loan term or contractual arrangement modifying loan terms linked to a holder's extension of credit under which the holder agrees to suspend all or part of a buyer's obligation to repay an extension of credit from that holder upon the occurrence of a specified event. (25 added Dec. 9, 2002, P.L.1446, No.186)

Debt suspension agreement means a contract entered into by a bank providing for the suspension of all or part of the repayment obligation under an extension of credit from that bank upon the occurrence of a specified event.

Debt suspension agreement means a loan term or contractual arrangement modifying loan terms under which a credit union agrees, for a fee, to suspend all or part of a member's obligation to repay an extension of credit from that credit union upon the occurrence of a specified event. The agreement must specify the extension of credit to which it pertains. The agreement may be separate from or a part of other loan documents. The term "debt suspension agreement" does not include loan payment deferral arrangements in which the triggering event is the member's unilateral election to defer repayment or the credit union's unilateral decision to allow a deferral of repayment.

Debt suspension agreement means a loan term or contractual arrangement modifying loan terms under which a bank agrees, for a fee, to suspend all or part of a customer's obligation to repay an extension of credit from that bank upon the occurrence of a specified event. The agreement must specify the extension of credit to which it pertains. The extension of credit may be a direct loan made by the bank or an indirect loan in the form of a retail installment sales contract purchased by or assigned to the bank. In the case of an indirect loan in the form of a retail installment sales contract, the debt suspension agreement may be offered by the bank through a nonexclusive, unaffiliated agent contingent upon the bank purchasing or taking assignment of the indirect loan. The agreement may be separate from or a part of other loan documents. The term "debt suspension

Debt suspension agreement means a loan term or contractual arrangement modifying loan terms under which a mutual association agrees, for a fee, to suspend all or part of a customer's obligation to repay an extension of credit from that mutual association upon the occurrence of a specified event. The agreement must specify the extension of credit to which it pertains. The extension of credit may be a direct loan made by the mutual association or an indirect loan in the form of a retail installment sales contract purchased by or assigned to the mutual association. In the case of an indirect loan in the form of a retail installment sales contract, the debt suspension agreement may be offered by the mutual association through a nonexclusive, unaffiliated agent contingent upon the mutual association purchasing or taking assignment of the indirect loan. The agreement may be separate from or a part of other loan documents. The term "debt suspension agreement" does not include loan payment deferral arrangements in which the triggering event is the borrower's unilateral election to defer repayment or the mutual association's unilateral decision to allow a deferral of repayment.