renegotiate

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Related to renegotiated: To dispose of, vitiation, followed up

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.

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 ?
New loans to non-financial corporations borrowing over e1/41m declined to e1/472.8m, compared with e1/4190.2m the previous month, of which e1/4 5.6m were loans that have been renegotiated.
Ms Andreeva said: "We are not renegotiating what is on the table, our solutions are on the table, we are ready to listen but at this stage there are no further meetings and the EU 27 leaders have been very clear that it will not be renegotiated, what is on the table."
Renegotiated credit provides borrowers with a moratorium on payments, longer maturities or lower interest rates.
"Whilst many local authorities have taken a fairly lenient position on the five year rule in the past and allowed the 106 to be renegotiated in advance of this deadline, the provisions of the bill, as currently drafted, would place a statutory duty on the local planning authority to reconsider affordable obligations entered into through a section 106 agreement.
The renegotiated royalty takes the form of an annual payment to EARL of a percentage of the net cash flow (before corporate tax) of Delhi's Cooper and Eromanga Basin business, subject to minimum payment of $40 million over the first five years.
"Homeowners don't have a say in whether their bank sells their mortgage or not, but that can have a significant impact on whether their loan is renegotiated," points out Itzhak Ben-David, coauthor of a study published in the Journal of Financial Economics.
He added: "A key element in Gonville's decision to purchase the franchise was the ability of the company to repudiate the leases of the franchisees through the court which were then renegotiated on better terms."
We show how, under formidable pressure from these actors, this community has nevertheless renegotiated its access to land and other resources, and opportunistically developed a diversified livelihood system that has enabled it to survive in rapidly changing political and economic conditions.
The HSE renegotiated their contract with pharmaceutical firm Baxter last month, after realising that their existing stocks of a rival vaccine would be sufficient to cover the Irish population.
Many going through a divorce aren't aware that financial settlements may be renegotiated if the value of the items change, therefore it is vital to seek professional advice to ensure you and your assets are protected.
The packages that are being renegotiated on the joint-venture refinery project with Total are related to distillation and hydro-treating,conversion, sulfur, aromatics,coker unit and plant utilities,the contractors said.
Swedish tanker shipping company Svithoid Tankers AB (OMX Stockholm: SVIT B) said on Monday (8 September) that it has renegotiated its time charter agreements for the vessels Vedrey Tora and Vedrey Thor.