Workout activities definition

Workout activities means those actions by which a holder, at
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Workout activities means those actions by which a holder, at any time prior to foreclosure and its equivalents, seeks to prevent, cure, or mitigate a default by the borrower or obligor; or to preserve, or prevent the diminution of, the value of the security. Workout activities include: Restructuring or renegotiating the terms of the security interest; requiring payment of additional rent or interest; exercising forbearance; requiring or exercising rights pursuant to an assignment of accounts or other amounts owed to an obligor; requiring or exercising rights pursuant to an escrow agreement pertaining to amounts owed to an obligor; providing specific or general financial or other advice, suggestions, counseling, or guidance; and exercising any right or remedy the holder is entitled to by law or under any warranties, covenants, conditions, representations, or promises from the borrower.
Sample 1Sample 2Sample 3
Workout activities means those actions by which a
Sample 1Sample 2Sample 3

Examples of Workout activities in a sentence

  • Workout activities include, but are not limited to, restructuring or renegotiating the terms of the security interest; requiring payment of additional rent or interest; exercising forbearance; requiring or exercising rights pursuant to an assignment of accounts or other amounts owing to an obligor; requiring or exercising rights pursuant to an escrow agreement pertaining to amounts owing to an obligor; and providing specific or general financial or other advice, suggestions, counseling, or guidance.

  • Workout activities" means those actions by which a holder, at any time prior to foreclosure and its equivalents, seeks to prevent, cure, or mitigate a default by the borrower or obligor; or to preserve, or prevent the diminution of, the value of the security.

  • To facilitate this reporting, Genworth has joined with all MI Companies in the adoption of a new standardized reporting template with which Servicers can report all their Loan Workout activities.

  • Servicers must adhere to applicable Investor guidelines for Default servicing and Workout activities.

  • QUALITY, supra note 53 (showing no ground or surface water monitoring requirement).

  • Servicer Requirements–Servicers must adhere to applicable Investor guidelines for Default servicing and Workout activities.

  • The value of collateral reported for “Total Denounced Exposures” shall reconcile with the respective data reported in Template 1 and Template 2.2. Workout activities For the purposes of Template 3 with clear distinction to the respective columns per exposure category, the following data shall be filled-in: Total Denounced Exposures.

  • Servicers must adhere to the CFPB Rule and GSE Guidelines for default servicing and Workout activities.

  • Servicers must adhere to the CFPB Rule and GSE Guidelines for Default servicing and Workout activities.

  • If a Tenderer does not provide clarifications of its Tender by the date and time set in the Bomet University College's request for clarification, its Tender may be rejected.

Related to Workout activities

  • Permitted Activities The primary activities of the trust created pursuant to this Agreement which shall be:

  • Activities has the meaning specified in Section 7.02(b).

  • Development Activity means any activity defined as Development which will necessitate a Floodplain Development Permit. This includes buildings, structures, and non-structural items, including (but not limited to) fill, bulkheads, piers, pools, docks, landings, ramps, and erosion control/stabilization measures.

  • Extracurricular activities means: a voluntary activity sponsored by the school or local education agency or an organization sanctioned by the local education agency. Extracurricular activities include, but are not limited to, preparation for and involvement in public performances, contests, athletic competitions, demonstrations, displays, and club activities.

  • Funded Activities means the activities set out in Annex 2 of these Conditions; Funding Period means the period for which the Grant is awarded starting on the Commencement Date and ending on [INSERT PROJECT END DATE]; General Data Protection Regulations and GDPR means (Regulation (EU) 2016/679); Grant means the sum or sums the Authority will pay to the Grant Recipient in accordance with paragraph 4 of these Conditions and subject to the provisions set out at paragraph 26.

  • Restricted Activities means those activities described in section 9 of this Agreement.

  • Competing Activities means the same or similar services as Xxxxxx Xxx Ltd is providing to the Restaurant under this Agreement or other activities having a similar purpose.

  • Corrupt activities means any corrupt activities as contemplated in the Prevention and Combating of Corrupt Activities Act 2004 (Act no. 12 of 2004)

  • licensed activities means things authorised to be done by the licence

  • Principal activities means activities authorized by the license which are essential to achieving the purpose(s) for which the license was issued or amended. Storage during which no licensed material is accessed for use or disposal and activities incidental to decontamination or decommissioning are not principal activities.

  • Interscholastic Activities means athletic or non-athletic/academic activities where students compete on a school vs. school basis.

  • Intrascholastic Activities means athletic or non-athletic/academic activities where students compete with students from within the same school.

  • Collaborative agreement means a voluntary, written, or electronic arrangement between one