Exact(4)
One of the most common reasons for a claim being rejected is when an insurer relies on a particularly restrictive or onerous term in the contract.
Balchin adds that the insurers for solicitors, who cover the cost of professional negligence claims, have accepted that a doubling of the ground rent every 10 years is an "onerous term".
GRP inserted an onerous term called a 5-X liquidation preference, something financiers only dare suggest to the most desperate companies.
Wet-behind the ears and inexperienced, young CEOs are probably far more likely to sign onerous term sheets out of sheer gratitude for getting funded.
Similar(53)
Inevitably, they are lending only on the most onerous terms.
"Each new letter arrived with more onerous terms than the last," it said.
Indeed, some AIG shareholders are suing the federal government over the bail-out's onerous terms.
He also called for immediate negotiations aimed at "disengaging from the onerous terms" of the bailout.
But almost no one was interested, and the few companies that were offered absurdly onerous terms.
Some desperate companies agree to such onerous terms that the financing can hurt more than help.
New, sometimes more onerous terms when accounts are sold to another company.
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