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But the holdout investors refused the restructuring and are demanding repayment in full.
The hedge funds picked up the bonds at a fraction of their previous value and then demanded repayment in full.
Just as the economy was bottoming out, Elliott bought up Argentine bonds at a low price, and subsequently pressed Argentina for repayment in full, plus interest.
Due-on-Sale Clause: A provision in a mortgage allowing the lender to demand repayment in full if the borrower sells the property that is securing the mortgage.
"Please note," it continued, "that even if you made or make repayment in full, the United States does not waive its right to pursue any applicable civil or criminal remedies".
BALLOON mortgages bear some resemblance to interest-only mortgages, but there are differences, A balloon mortgage usually has a fixed rate for a period of time, but then requires a repayment in full.
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Generally it will suit those people who cannot make their monthly repayments in full but have some free cash each month that can be given to their creditors.
"Remortgage activity in particular is setting the pace, with strong competition giving many consumers an incentive to explore lower repayments in the full understanding that rates won't go much lower," he said.
In the case of a bankruptcy by Dubai World or Nakheel, bondholders have no guarantee of "repayment of their claims in full or at all," it said.
After all, their measure of ratings performance remains simple: they are interested in the probability of repayment on time and in full.
Despite the club putting forward a solution, utilising funds generated from its assets that would have enabled repayment of its debt in full over a period of a few months, HMRC refused to agree to an adjournment to give effect to the plan.
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CEO of Professional Science Editing for Scientists @ prosciediting.com