Restructured Loan definition
Restructured Loan means a Single Family Shared-Loss Loan for which the Assuming Institution has received a Restructuring Loss payment from the Receiver. This applies to owner occupied and investor owned residences.
Restructured Loan means any Loan (a) that was previously the subject of a Material Modification, (b) for which the Obligor (i) is current on all required payments for three consecutive payment periods and (ii) is no longer experiencing a material financial underperformance, distress or material default, in each case in accordance with the Investment Policy, and (c) that has been valued by an independent third-party appraiser since the date of such Material Modification or other default or financial distress.
Restructured Loan means any overdue loan where a bank has negotiated for a change in repayment terms with the borrower and payments are still being made in accordance with the repayment terms;
Examples of Restructured Loan in a sentence
The security interest of the Collateral Trustee shall nevertheless come into existence and continue in such Underlying Asset, Equity Security, Restructured Loan, Workout Loan or Eligible Investment so acquired, including all rights of the Issuer in and to any contracts related to and proceeds of such Underlying Asset, Equity Security, Restructured Loan, Workout Loan or Eligible Investment.
More Definitions of Restructured Loan
Restructured Loan. A bank loan purchased by the Issuer in connection with the workout, restructuring or a related scheme to mitigate losses with respect to an Underlying Asset, which, in the Asset Manager’s judgment exercised in accordance with the Asset Management Agreement, is necessary to collect an increased recovery value of the related Underlying Asset, and for the avoidance of doubt is not a bond or equity security; provided that, the Aggregate Principal Amount of Restructured Loans and Workout Loans may not exceed 5.0% of the Maximum Investment Amount at any time; provided, further that, on any Business Day as of which such Restructured Loan satisfies the definition of “Underlying Asset” (disregarding the exceptions for Workout Loans), the Asset Manager may designate (by written notice to the Issuer, the Collateral Trustee and the Collateral Administrator) such Restructured Loan as an “Underlying Asset”. For the avoidance of doubt, any Restructured Loan designated as an Underlying Asset in accordance with the terms of this definition (x) shall constitute an Underlying Asset (and not a Restructured Loan), in each case, following such designation and (y) shall not be permitted to be re-designated as a Restructured Loan. The acquisition of Restructured Loans will not be required to satisfy the Portfolio Criteria.
Restructured Loan means any Loan that has been, or in accordance with the Operating Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six (6) consecutive calendar months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Operating Guidelines.
Restructured Loan means any Loan that has been, or in accordance with the Credit and Collection Policy is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six (6) consecutive calendar months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit and Collection Policy.
Restructured Loan. Any Loan as to which the terms of payment of principal and interest have been modified by the Originator, the Servicer or any subservicer due to an Obligor’s inability to pay, including, without limitation, to permit the Obligor to pay interest in kind rather than in cash when due but excluding any Loans re-underwritten that conform to the Credit and Collection Policy.
Restructured Loan means any Defaulted Loan the terms of which are modified in accordance with Section 5.05.
Restructured Loan means any Loan Asset that was previously a Non-Performing Asset.
Restructured Loan means any Loan (a) that was previously the subject of a Material Modification, (b) for which the Obligor