Forbearance Agreement

Forbearance Agreement

An agreement by the lender not to exercise the legal right to foreclose in exchange for an agreement by the borrower to a payment plan that will cure the borrower's delinquency.

See Payment Problems/Position of the Lender/Temporary Problem.

References in periodicals archive ?
750% Senior Notes due 2023 (together, the "Existing Notes") have agreed to extend the forbearance agreement entered into on November 24, 2015 (the "Forbearance Agreement") until up to December 14, 2015.
Endeavour Announces One Day Forbearance Agreement with
OTC: GSAT) said that the forbearance agreement with the company's 5.
So, here are some concepts and provisions to consider when preparing a forbearance agreement.
Pope & Talbot, Inc (Pink Sheets:PTBT) today announced that it has agreed to an extension of its forbearance agreement with its senior secured lenders.
The borrower continues to perform under the forbearance agreement executed in February 2006.
Under terms of the proposed agreements, noteholders will waive the defaults and forbear from exercising any related remedies until July 13, 2007, on terms similar to the recently executed forbearance agreement under the Company's senior secured credit facility.
Highlights of the Forbearance Agreement are as follows: - During the period that the Forbearance Agreement is in effect, the Company will have full access to its Credit Facility, provided that there has not occurred any of the specific events of default, as set forth in the Forbearance Agreement; - The Company agreed to pay the Lenders a forbearance fee of 1.
NYSE:POP) today announced that it entered into a forbearance agreement with its senior secured lenders to extend access to liquidity provided by the revolving credit facility under its senior secured credit agreement for six weeks while it continues to explore options to improve its balance sheet.
Company Obtains Forbearance Agreement from Senior Secured Lenders
EMRISE is in the process of negotiating a forbearance agreement with Wells Fargo Bank under which Wells Fargo Bank is expected to agree not to exercise its rights under the notice of default through December 1, 2006.
The parties to the Forbearance Agreement also agreed to allow dividends to accrue but not be payable until the expiration of the Forbearance Period.