application for restructuring
Defined in 1 place of the United States Code.
The term “application for restructuring” means a written request—
(A) from a borrower for the restructuring of a distressed loan in accordance with a preliminary restructuring plan proposed by the borrower as a part of the application;
(B) submitted on the appropriate forms prescribed by the qualified lender; and
(C) accompanied by sufficient financial information and repayment projections, where appropriate, as required by the qualified lender to support a sound credit decision.
Source
- 1994–present12 U.S.C. § 2202ABanks and Banking · Restructuring distressed loans · as used in this part