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has waived the events of default

Italian translation: inadempienze

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:events of defaults
Italian translation:inadempienze
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14:07 Sep 30, 2001
English to Italian translations [PRO]
Bus/Financial
English term or phrase: has waived the events of default
The note (linea di credito) is collaterized by a Loan and Security agreement containing various financial covenants as well as non-financial requirements. The bank has waived the events of default for the year enden March 31, 2001. The outstanding balance on the revolving credit was EURO 30000 as of March 31, 2001. The revolving credit agreement will expire June 30, 2004.

TIA
anusca
anusca
Italy
Local time: 02:12
la banca ha rinunciato a far valere le inadempienze
Explanation:
mi pare di capire che una ditta ha una linea di credito con la banca, ma non è stata poi in grado di ripianare il debito, perciò si cerca di arrivare a una composizione in via amichevole e la banca rinuncia a far valere le proprie ragioni legalmente. Vedi per esempio in:

http://biz.yahoo.com/e/010320/valh.ob.html
At January 31, 2001 and October 31, 2000 Network did not meet certain of the financial covenants required under the terms of their line of credit facility (See Note 7). The Company has entered into negotiations with the financial institution in an effort to restructure the terms of the financial covenants or the credit facility. The Company received the confirmation from the financial institution which waived the events of default based on the financial statements for fiscal year ended October 31, 2000, and os of November and December 31, 2000, and indicated that they have agreed to enter in good faith negotiations, in an effort to reset the financial covenants which will be acceptable to both parties. At this time these negotiations have not been finalized and the Company had not cured the events of default. In the opinion of management, the Company will prevail in resolving the events of default and restructuring the terms of the credit facility.

Selected response from:

Francesco D'Alessandro
Spain
Local time: 01:12
Grading comment
Sì questo è il senso.

slt
anusca
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +5la banca ha rinunciato a far valere le inadempienze
Francesco D'Alessandro


  

Answers


9 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +5
la banca ha rinunciato a far valere le inadempienze


Explanation:
mi pare di capire che una ditta ha una linea di credito con la banca, ma non è stata poi in grado di ripianare il debito, perciò si cerca di arrivare a una composizione in via amichevole e la banca rinuncia a far valere le proprie ragioni legalmente. Vedi per esempio in:

http://biz.yahoo.com/e/010320/valh.ob.html
At January 31, 2001 and October 31, 2000 Network did not meet certain of the financial covenants required under the terms of their line of credit facility (See Note 7). The Company has entered into negotiations with the financial institution in an effort to restructure the terms of the financial covenants or the credit facility. The Company received the confirmation from the financial institution which waived the events of default based on the financial statements for fiscal year ended October 31, 2000, and os of November and December 31, 2000, and indicated that they have agreed to enter in good faith negotiations, in an effort to reset the financial covenants which will be acceptable to both parties. At this time these negotiations have not been finalized and the Company had not cured the events of default. In the opinion of management, the Company will prevail in resolving the events of default and restructuring the terms of the credit facility.



Francesco D'Alessandro
Spain
Local time: 01:12
Native speaker of: Native in ItalianItalian
PRO pts in pair: 1056
Grading comment
Sì questo è il senso.

slt
anusca

Peer comments on this answer (and responses from the answerer)
agree  CLS Lexi-tech
4 hrs

agree  Silvia Currò
6 hrs

agree  Barbara Cattaneo
7 hrs

agree  Delsen
2 days 9 hrs

agree  Rita Bandinelli
4 days
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