Sentences with phrase «event of default»

And if you have any security interest in event of default.

Here, events of default under a revolving credit facility in particular, can prove to be fatal for the company and its directors.

It ought to be noted that concerning events of default, there exist two, not one, general tests of insolvency.

Representing Russian Bank, OJSC URALSIB BANK, in High Court proceedings in a claim brought by the bank against other lenders in a syndicated loan arrangement concerning alleged events of default arising out of a USD100 million loan participation note.

The Fed under Chairman Alan Greenspan lowered interest rates following the fabled event of default and life continued.

Fortunately, investments made on PeerStreet are first lien, so in the unlikely event of a default, PeerStreet would acquire the property turn it around to attempt to make investors whole.

The initial complaint filed in Clark County Circuit Court in Las Vegas stated that lenders had terminated their agreement for the $ 770 million loan commitment because of an unspecified event of default.

This $ 10,000 is all that's protecting the mortgage ownerâ $» bank or note ownerâ $» in event of default.

Without the right to seize assets in the event of a default, banks were scared away.

If you agree to a personal guarantee when taking out a loan, you commit to being personally responsible for your debt in the event of default.

If the amount available under the Asset - Based Revolving Credit Facility is less than the greater of 1) 12.5 % of the lesser of (a) the aggregate revolving commitments and (b) the borrowing base and 2) $ 60 million, we will be required to repay outstanding loans and, if an event of default has occurred, cash collateralize letters of credit.

Debt transactions can also include security features tied to certain assets of a debtor providing an even greater level of security to creditors in the event of default or bankruptcy.

Other important facets of debt investments include any covenants required of the debtor, events of default, recourse, prepayment provisions, fraudulent conveyance, underlying security, and many others.

While there is no specific collateral requirement for Fundation business loans, the lender has a blanket lien on your business assets, meaning that in the event of default, Fundation has the right to take possession of any business assets to fulfill the debt.

Plus, in the event of default, student loans are not tied to collateral, which is the standard with almost all other types of loans.

Convertible debt is a form of debt financing that has a feature to convert debt into equity usually at the option of the investor in the event of a default on the repayment of a...

On March 14, Moody's said if this debt exchange succeeds, it will constitute a «distressed exchange» and will count as an «event of default.»

Lenders participating in such transactions need to continue to ensure that, in the effort to simplify the process for the borrower, important rights are sorted out among lenders with clear language in the event of a default.

In the event of default, the lender will be insured against losses.

Add to that the increased presence of mezzanine financing — which allows the lender to snag an ownership stake in the event of a default — and developers quickly start to feel pressure when they are not hitting their sales projections.

Additionally, FHA borrowers are required to pay for mortgage insurance (MIP) to protect the lender in the event of a default.

Also, banks don't want to be homeowners, even if they have the right to in the event of a default.

This is even more accentuated by the fact that in a number of US states, there is no recourse for the lender to other assets of the borrower in the event of default (this is not the case in Australia, as discussed below).

In the event of default, the mortgage insurer pays a claim to the loan servicer.

In the event of a default the property is sold and the bank gets all its money back because they are in a full equity position, the amount lent is less than the total value of the asset so they are only out the time it takes to get the property sold.

Second mortgages are so - called because, in the event of default, the holder of a home's first mortgage has first claim against monies recovered at auction.

The majority of underlying loans are property - backed or asset - backed, helping to protect returns by minimising downside exposure in the event of a default.

Whilst property charges are more appropriate for the recovery of assets in the event of default, personal guarantees are useful in aligning the interest of borrowers and their owners / directors.

They based their loan decisions not on the new production and revenue their lending might create, but simply on what collateral they could liquidate in the event of default: inventories of unsold goods, real estate, and money due on bills for goods sold and awaiting payment from customers.

The benefit to this approach is that unlike corporate debt, which includes strict debt covenants that can force dividend cuts in the event of a liquidity crunch, debt collateralized by individual properties, in the event of a default, simply mean the lender forecloses on that individual store.

In the event of a default, PeerStreet will handle the workout process and work on behalf of investors to protect their investment and maximize proceeds.

The City Council would have a charge over all of Everton's assets and income in the event of default.

June 21, 2012: Garry writes NHD about a $ 12.3 million loan, saying amendments requiring the town to repay in the event of default are «valid binding obligations.»

Throughout the term of the loan and in the event of a default the property will always remain within the possession of a Seneca individual or the Seneca Nation.

David Friedfel of the independent Citizens Budget Commission disputes the Cuomo administration's view that borrowing through the Dormitory Authority doesn't put taxpayers on the hook because in the event of any default, the state would «at the very least» feel political pressure to cover the costs.

However, the students in her interview sample did say they didn't understand the burden of the debt they would incur and the impossibility of shedding student loans in the event of default.

The bank can attach a lien on the real estate property in the event of default.

In the event of default, the lender can repossess the asset pledged to secure the obligation.

A guaranteed loan is a loan in which an individual or entity has agreed to be personally responsible for the debt in the event of default.

Lenders more readily approve secured accounts, as they can repossess the collateral to offset losses in the event of default.

Both options mean you risk losing your home in the event of default.

With unsecured financing, you do not pledge collateral (house, car, 401K account or other assets) that the bank can later repossess in the event of default.