Forbearance. As defined in Section 3.07(a).

Forbearance means an extension of time for making loan payments or the acceptance of smaller payments than were previously scheduled to prevent a borrower from defaulting on his or her payment obligations. A lender or hold- er must notify each borrower of the right to request forbearance.

Forbearance. (SAL/SALT only) means a GSFA approved period of time, not to exceed twenty-four (24) cumulative months, during which the Borrower, upon meeting certain conditions, is permitted to temporarily cease making payments on the loan based on extenuating circumstances. Interest accrues on the outstanding principal balance of the loan during a period of Forbearance and the Borrower is liable for such interest.

Examples of Forbearance in a sentence

This Amendment is not a novation nor is it to be construed as a release, waiver or modification of any of the terms, conditions, representations, warranties, covenants, rights or remedies set forth in the Forbearance Agreement, or the Amended and Restated Registration Rights Agreements.
Without limiting the generality of the foregoing, each Credit Party hereby ratifies and affirms all of its payment and performance obligations, covenant obligations and all other obligations under the Forbearance Agreement and the Amended and Restated Registration Rights Agreements, as amended hereby.
As of the Forbearance Effective Date, the Warrants issued pursuant to the Securities Purchase Agreements are hereby amended and restated substantially in the form attached hereto, respectively, as Exhibit A (the “Amended Warrants”) to reflect an erroneous change to the expiration date to the Amended Warrants included in the Forbearance Agreement.
Each Credit Party hereby restates, ratifies and reaffirms all of the terms and provisions of the Forbearance Agreement and the Amended Registration Rights Agreements.
Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Forbearance Agreement and the Amended Registration Rights Agreements.

More Definitions of Forbearance

Forbearance means a period of six months during which the

Forbearance shall have the meaning set forth in Section 2.01.

Forbearance means suspension of the acceleration of the balance due on a primary housing loan on the basis of the com- pliance of the mortgagor with the terms of an agreement.

Forbearance means the period permitted by the Act and the policies of the Guarantor during which a Borrower (in Repayment) is permitted to temporarily forego payments or make reduced payments.

Forbearance means agreement, conditioned upon the occurrence of the Effective Date, to refrain from exercising: (i) the right to enforce or exercise any status or right as a secured party, including any rights in the Collateral described in the Security Agreement; (ii) the right to enforce or exercise any assignment or collateral assignment of insurance or insurance proceeds; and (iii) the right to any priority of payment arising from or related to (i) or (ii) hereinabove.

Forbearance means the complete curtailment of all or part of a right to make withdrawals under a specific Edwards Aquifer Authority Groundwater Withdrawal Permit.

Forbearance means a period of time during which obligations for