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 ?
BANKING AND CREDIT NEWS-September 5, 2019-Global Cloud Xchange extends forbearance agreement
M2 EQUITYBITES-September 5, 2019-Global Cloud Xchange extends forbearance agreement
Global Banking News-September 5, 2019-Global Cloud Xchange extends forbearance agreement
Global Cloud Xchange (GCX) has announced that the July 31, 2019, forbearance agreement that was entered into by 87 percent of its bondholders has been further extended until 5:00pm (EDT) on September 13, 2019, the company said.
The trucking executive claims the bank refused to negotiate a deal with HCI and HVH and was then told the motor carrier was in violation of its forbearance agreement, which required that HVH have a minimum liquidity of $500,000 in the bank.
Financing - The Company entered into the Second Amended and Restated Forbearance Agreement ('Second A&R Forbearance Agreement') on July 1, 2019 with its senior lenders, stream financing providers and equipment financiers.
Fred's has entered into a forbearance agreement with its lenders pursuant to which Fred's stipulated to the occurrence of certain events of default and such lenders agreed, subject to the satisfaction of certain conditions, to not take any action to accelerate indebtedness or exercise other remedies until July 22.
Beyond closing the 104 store locations, Fred's has also entered into a "forbearance agreement and amendment with its lenders."
SCE&G ceded its ownership in the project equipment to Santee Cooper through a forbearance agreement last December approved by the S.C.
Anto said Fred's is negotiating a forbearance agreement with its lenders that, when finalized, should give the discount retailer the time it needs to complete the store closures, evaluate additional store closures and develop a go-forward business plan for the company.
The parties entered into a forbearance agreement wherein the ACA agreed to make up the shortfall and temporarily forgo exercising its creditor rights and the city and the authority agreed to reimburse the ACA for the payments and continue repaying the bonds from rent payments.
4,2019: Michaelson Capital sues NanoMech for defaulting on its loan agreement and subsequent forbearance agreement after the company misses a $100,000 payment in January.