workout

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Workout

Informal repayment or loan forgiveness arrangement between a borrower and creditors.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The six work-outs are styled like a boot camp beginning with the Ready For Action Warm-Up, moving on to Operation Fat Attack, Hardcore Bootcamp, Total Body Drill and Full Body Blitz, culminating in the At Ease Cool Down.
THE TRACY ANDERSON METHOD Best for: Dedicated exercise queens who want an A-list work-out. From Madonna and Gwyneth Paltrow's trainer, this caters for all levels of ability with its unique Dance Cardio programme.
The dedicated Rangers ace was doing extra work in the gym every day and even undergoing punishing work-outs with his foot in plaster as he recovered from ankle surgery last year.
Formerly head of banking and insolvency at a leading UK law firm, Mr Murray, who joined Needham & James three years ago, is recognised for his expertise in insolvency, work-outs and restructuring, as well as mainstream lending and security work.
He had to spend a year out of playing basketball and kicked his heels at the University of Texas, burying himself in daily work-outs helped by a sympathetic coach.
If you're not convinced by Audley's wishy-washy work-outs since turning pro, have a small wager on Wiggins at a big 7-1, but A-Force should have enough to get through this one.
The All Blacks stage regular public work-outs, often attracting four-figure crowds, but the Lions have never previously embarked on such a venture.
As efforts to get the nation fitter and more active continued, the new regime shows how people can incorporate exercise into their everyday lives if they cannot find time to go to the gym for more strenuous work-outs. Routinetics, created by medical insurance company PruHealth, is described as 'physical exertion as part of the daily routine to help maintain health and fitness'.
Traditionally, strength and conditioning coaches recommend that you split up the two types of work-outs on separate days or at least by several hours.
FRIDAY 5PM: Evelyne, the gym instructor whose classes resemble army work-outs, is taking a lethargic group through their paces.
To successfully manage an in-house financing program, you need a credit department to analyze transactions; legal and documentation capabilities to prepare contracts and filings for regulatory agencies; collections to establish policies for and implement work-outs; accounting to handle billings and generate tax and year-end reports; and customer service to respond to myriad customer requests.
While this arrangement can provide institutional clients with sophisticated transactional services, including property disposition, mergers and acquisitions, portfolio management, and work-outs, both firms will continue to offer their autonomous, traditional services.