renegotiate


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renegotiate

An agreement to revise the terms of a contract.Promissory notes,mortgages,leases, and other contracts can typically be renegotiated if failure to do so will result in default and that default would be economically disadvantageous to the other party. This power to renegotiate is exemplified by the old saying referring to loans from small banks,“If you owe the bank $10,000, they own you. If you owe the bank $1,000,000, you own them.” A debtor in bankruptcy can force renegotiation of onerous contract terms,such as a long-term lease at above-market rental rates.

References in periodicals archive ?
Councils such as Birmingham could have to renegotiate planning deals
In addition, assuming the property is still useful to the seller/lessee, a drop in rental rates offers a good opportunity to renegotiate at a lower rate for a new primary term, while the original sale price was predicated on the original rental rate.
Export-oriented firms like energy giant Perez Companc, which has to renegotiate $2.
But League clubs fear cashstrapped clubs which rely on TV revenue could be forced to the wall if they have to renegotiate.
This webinar examines the most effective tips and techniques used by leading CEOs to negotiate and renegotiate contracts before the end of the year to capitalize on better rates and terms that are only available at this time of the year.
Our position is clear and logical; we will not renegotiate the nuclear deal at all.
Sherrod Brown (D-OH) convened a roundtable with northwest Ohio workers at UAW Local 14 in Toledo to hear from Ohio workers about their priorities as the Administration moves to renegotiate NAFTA.
Bulgaria is ready to renegotiate terms in the South Stream gas pipeline, but this should not be necessary, believes the countryas Foreign Minister.
IRELAND might be able to renegotiate penal interest rates imposed after the IMF bailout, the Finance Minister admitted yesterday.
A top economist with Goldman Sachs (NYSE: GS) has opined that Greece would voluntarily renegotiate its debt.
Pakistan asked to renegotiate the contract for financial reasons.
A bankruptcy judge will allow Delta Air Lines to renegotiate leases on 88 jetliners.