debt restructuring - changing the maturity and/or terms of a loan
debt restructuring - the spreading out of repayments of a debt over a longer period. It often involves converting short-term debt into longer-term debt. This is done because the borrower is having trouble making repayments.
Bilateral intergovernmental debt restructuring agreement.
(a) If the covered loan agreement or commercial contract is subject to a bilateral intergovernmental debt restructuring agreement, the policyholder shall follow the conditions of the restructuring agreement in respect of both the insured and the uninsured portions of that loan agreement or commercial contract, respectively. The policyholder shall give any necessary assistance to the insurer for the performance of the restructuring agreement.
(b) If the insured amount is included in a bilateral intergovernmental debt restructuring agreement, the insurer may waive the one-month period provided for in point 28, once the bilateral agreement is effective.
