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Related to forbearance: Forbearance Agreement


Refraining from doing something that one has a legal right to do. Giving of further time for repayment of an obligation or agreement; not to enforce claim at its due date. A delay in enforcing a legal right. Act by which creditor waits for payment of debt due by a debtor after it becomes due.

Within Usury law, the contractual obligation of a lender or creditor to refrain, during a given period of time, from requiring the borrower or debtor to repay the loan or debt then due and payable.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


n. an intentional delay in collecting a debt or demanding performance on a contract, usually for a specific period of time. Forbearance is often consideration for a promise by the debtor to pay an added amount.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.


abstention from or postponement of the enforcement of a legal right.
Collins Dictionary of Law © W.J. Stewart, 2006
References in periodicals archive ?
Global Cloud Xchange (GCX) has announced the forbearance agreement, entered into by 87% of its bondholders, has been further extended until September 13, 2019, providing additional time to discuss options related to the USD 350m 7.00% Senior Secured Notes issued by GCX Limited, the company said.
BANKING AND CREDIT NEWS-September 5, 2019-Global Cloud Xchange extends forbearance agreement
TELECOMWORLDWIRE-September 4, 2019-Global Cloud Xchange forbearance agreement extended
The forbearance periods on the Phase 2 Facility and Second Mortgage Loan have expired.
Global Cloud Xchange (GCX) has announced that the company has reached a forbearance agreement with an 87 percent group of its bondholders that provides additional time to discuss options related to the upcoming maturity of the USD 350m 7.00% Senior Secured Notes issued by GCX Limited, the company said.
The Muslim organisation commended Chief Fasoranti for his calmness and forbearance in the face of the death of his daughter, Mrs Olakunri, saying his exhibition of patience and restraint had gone a long way to reduce the tension that the development had generated.
Fred's has entered into a forbearance agreement with its lenders pursuant to which Fred's stipulated to the occurrence of certain events of default and such lenders agreed, subject to the satisfaction of certain conditions, to not take any action to accelerate indebtedness or exercise other remedies until July 22.
The president prayed for eternal peace of the departed souls and forbearance of the bereaved families.
A borrower can pause payments if her servicer grants her a deferment or forbearance, but if a borrower fails to make her monthly payment and does not have a deferment or forbearance, her loan will become delinquent.
One such concept within Stoicism is that of "forbearance," a term describing the quality of being patient and being able to forgive someone or to control oneself in a difficult situation.
Allowing banks to calculate risk-weighted assets for foreign-currency exposures at an old, more favourable exchange rate and to disregard mark-to-market losses on securities added about 200bp-400bp to major Fitch-rated banks' total capital ratios at end-3Q18.The banks' reported total capital ratios were above the 12% recommended regulatory minimum at end-3Q18, but in some cases would be close to breaching this threshold without the benefit of regulatory forbearance. We take account of banks' regulatory capital positions in our ratings analysis, including the protection that forbearance provides against banks breaching regulatory minimum levels.