title = "Problem Loan Workouts and Restructuring"

content = """
When a borrower's financial condition deteriorates to the point where they can no
longer meet their original loan terms, the loan is moved to the 'Special Assets
Group' (SAG) for workout or restructuring.

**The Goal of a Workout:**
The primary objective is to maximize the bank's recovery while, if possible,
helping the business return to health. This is often more cost-effective than
immediate foreclosure or liquidation.

**Common Workout Strategies:**
- **Forbearance Agreement:** The bank agrees to temporarily delay legal action
  or waive certain defaults in exchange for the borrower meeting specific new
  conditions (e.g., hiring a turnaround consultant).
- **Loan Restructuring:** Modifying the terms, such as extending the maturity or
  temporarily reducing the interest rate, to match the borrower's reduced cash
  flow.
- **Liquidation/Foreclosure:** If the business is no longer viable, the bank
  exercises its rights under the Security Agreement to seize and sell the
  collateral to repay the debt.

**The 'Reservation of Rights' Letter:**
During workout discussions, the bank issues a letter stating that while it is
talking to the borrower, it is not waiving any of its legal rights or remedies
under the loan documents.
"""

version = "0.0.1"
