workout

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Workout

Informal repayment or loan forgiveness arrangement between a borrower and creditors.

Workout

An informal process by which a debtor and creditors agree to debt forgiveness and/or a different repayment plan when the debtor states that he/she/it is unable to repay debts. A workout may be part of a Chapter 11 bankruptcy process, or the debtor and the creditors may work out their differences to avoid the painful, and often expensive, process of bankruptcy.

workout

1. The process of a debtor's meeting a loan commitment by satisfying altered repayment terms. For example, a firm in Chapter 11 bankruptcy proceedings might reach an agreement with its creditors for ways in which the firm's obligations can be worked out.
2. A range of prices within which a transaction or a series of transactions is likely to take place. For example, a market maker might quote a price range within which he or she would attempt to buy or sell a large order of securities.

workout

The process of working with a lender to explore alternatives to foreclosure or bankruptcy after a default.This may involve the lender receiving additional collateral,lengthening the term of the loan, writing down part of the principal balance, providing minor additional lending to make the repairs necessary to sell the property at its best price, or any number of negotiated terms and conditions.One of the keys to a mutually beneficial workout solution is for all parties to be well educated regarding the consequences of bankruptcy.One example is the ability of a bankruptcy court to reduce the principal balance of a mortgage loan under certain circumstances. It is also wise for borrowers to understand the limitations of bankruptcy,however,so they don't take an imprudently aggressive stance with their lender.

References in periodicals archive ?
Intense, non-stop drumming combined with dance provides a great aerobic work-out that will work your whole body.
Kerry Katona - Real Fitness COINCIDING neatly with her ITV2 reality series, this DVD finds former Atomic Kitten singer Kerry Katona fronting a series of long and short work-outs, which apparently helped her to transform from a Size 14 to Size Eight.
Two 25-minute work-outs that gently burn fat, tone and shape every major muscle group and strengthen your core.
He has 18 years of experience representing lenders, creditors, property owners, property managers, and businesses in litigation and work-outs.
His practice also focuses on loan syndication, the acquisition and disposition of commercial properties, the formation of real estate joint ventures and partnerships, debt restructurings, loan modifications and work-outs.
According to the Guardian, England are monitoring Trott's progress, and he will be given two work-outs in the nets between now and Friday evening, when the selectors will take a decision about whether he is fit enough to be included.
With work on a new Turf Moor pitch ongoing, the Clarets are borrowing the Galpharm Stadium for one of their eight work-outs, against Stoke City on Saturday, July 31.
GaGa is interested in following Madonna's look so the work-outs are perfect for her.
He has also cranked up work-outs in the gym in a bid to hit his target weight of 13 stone.
The club meets Tuesday and Thursday evenings at Allensbank Primary school with 6pm-7pm sessions for children and 7pm-8pm work-outs for teenagers and adults.
Even when we had SATs we had fun doing Mr Walsh's work-outs, practising for SATs with Mrs Brown.
The gentle work-outs are proving a hit and help the elderly live more independent lives.