Forbearance. As defined in Section 3.07(a).

Forbearance means an extension of time for making loan payments or the acceptance of smaller payments than were previously scheduled to prevent a borrower from defaulting on his or her payment obligations. A lender or hold- er must notify each borrower of the right to request forbearance.

Forbearance. (SAL/SALT only) means a GSFA approved period of time, not to exceed twenty-four (24) cumulative months, during which the Borrower, upon meeting certain conditions, is permitted to temporarily cease making payments on the loan based on extenuating circumstances. Interest accrues on the outstanding principal balance of the loan during a period of Forbearance and the Borrower is liable for such interest.

Examples of Forbearance in a sentence

Forbearance or indulgence in any form or manner by a party shall not be construed as a waiver, nor in any manner limit the legal or equitable remedies available to that party.
Forbearance or indulgence in any form or manner by a party shall not be construed as a waiver, nor in any way limit the legal or equitable remedies available to that party.
Forbearance or indulgence by either party shall not constitute a waiver of any covenant or condition to be performed pursuant to this Contract.
Forbearance or indulgence by a party shall not be construed as a waiver, nor in any way limit the legal or equitable remedies available to that party.
Forbearance or indulgence by either party shall not constitute a waiver of any covenant or condition to be performed pursuant to this contract.

More Definitions of Forbearance

Forbearance shall have the meaning set forth in Section 2.01.

Forbearance means a period of six months during which the

Forbearance means suspension of the acceleration of the balance due on a primary housing loan on the basis of the com- pliance of the mortgagor with the terms of an agreement.

Forbearance means the period permitted by the Act and the policies of the Guarantor during which a Borrower (in Repayment) is permitted to temporarily forego payments or make reduced payments.

Forbearance means agreement, conditioned upon the occurrence of the Effective Date, to refrain from exercising: (i) the right to enforce or exercise any status or right as a secured party, including any rights in the Collateral described in the Security Agreement; (ii) the right to enforce or exercise any assignment or collateral assignment of insurance or insurance proceeds; (iii) the right to any priority of payment arising from or related to (i) or (ii) hereinabove; and (iv) the right to enforce or exercise any right to payment, claim or cause of action granted or arising under the Claimant Agreement, any Pre-Petition Settlement Agreement, the Collateral Trust Agreement, the Security Agreement or any other agreement related thereto or contemplated thereby.

Forbearance means the complete curtailment of all or part of a right to make withdrawals under a specific Edwards Aquifer Authority Groundwater Withdrawal Permit.

Forbearance means a period of time during which obligations for