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 ?
Chantelle's Boot Camp Work-out BIG Brother contestant Chantelle Houghton claims to have dropped two dress sizes in two weeks by undertaking military-style training at the No 1 Boot Camp.
Two 25-minute work-outs that gently burn fat, tone and shape every major muscle group and strengthen your core.
Paris might not be known for her energetic work-outs beyond the dancefloor, but she had no trouble wearing her Fila gear for the job in Los Angeles yacht resort Marina Del Ray.
It is also pleasing to know that the leisure centre provides a range of facilities and gym equipment supervised by staff who have completed the disability awareness qualification and are trained to offer safe and effective work-outs for all users.
I took the decision after Stuttgart to go to Portugal and put in some quality speed work and I had some excellent work-outs.
I'm running again and had a couple of really good work-outs on our pre-season trip to Dubai.
He'll take part in the the work-outs in the build-up to tomorrow's games and all things being equal, he'll have a run-out for the Reserves against West Brom.
And popping the odd vitamin pill is likely to set you back pounds 65 a year and energy drinks and snacks to power gym work-outs tot up to a surprising pounds 79.
Individuals who struggled with super-healthy low fat diets or put themselves through gruelling gym work-outs were largely suffering in vain.
You can programme it to follow a variety of work-outs.
Foods such as apples, bananas, oranges, raisins, Fig Newtons, and pretzels can give your body what it needs during long, sweaty work-outs.
Gain insight into the defaults, enforcement and work-outs (including the restructuring process in relation to sovereign debt and corporate borrowers)