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C-78.1 - Act to promote forest credit by private institutions

Section 27
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27. Where a borrower declares himself unable to meet his obligations on maturity, the lender may agree with him on new conditions for the repayment of the loan, provided that he obtains prior authorization therefor from the agency and that the time granted does not prolong the term of the loan beyond each maximum term provided for in the second paragraph of section 15, where such is the case.
1983, c. 16, s. 27; 1992, c. 32, s. 43; 1999, c. 40, s. 98; 2000, c. 53, s. 66.
27. Where a borrower declares himself unable to meet his obligations on maturity, the lender may agree with him on new conditions for the repayment of the loan, provided that he obtains prior authorization therefor from the Société and that the time granted does not prolong the term of the loan beyond each maximum term provided for in the second paragraph of section 15, where such is the case.
1983, c. 16, s. 27; 1992, c. 32, s. 43; 1999, c. 40, s. 98.
27. Where a borrower declares himself unable to meet his obligations on maturity, the lender may agree with him on new conditions for the repayment of the loan, provided that he obtains prior authorization therefor from the Société and that the delay granted does not prolong the term of the loan beyond each maximum term provided for in the second paragraph of section 15, where such is the case.
1983, c. 16, s. 27; 1992, c. 32, s. 43.
27. Where a borrower declares himself unable to meet his obligations on maturity, the lender may agree with him on new conditions for the repayment of the loan, provided that he obtains prior authorization therefor from the Office and that the delay granted does not prolong the term of the loan beyond each maximum term provided for in the second paragraph of section 15, where such is the case.
1983, c. 16, s. 27.
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