Home > Glossary > Concessional Restructuring

Meaning / Definition of

Concessional Restructuring

Categories: Economics,

debt restructuring with a reduction in present value of the debt service. In the context of the paris club, concessional restructuring terms have been granted to low-income countries since October 1988 with a reduction in the present value of eligible debt of up to one-third (toronto terms); since December 1991, with a present value reduction of up to one-half(london terms or enhanced concessions or enhanced toronto terms); and, since January 1995, with a present value reduction of up to two thirds (naples terms). In the context of the HIPC Initiative, creditors agreed in November 1996 to increase the present value reduction to up to 80 percent(lyon terms) and then in June 1999 to 90 percent (Cologne terms). Such restructuring can be in the form of flow restructuring or stock-of-debt operations. While the terms (grace period and maturity) are standard, creditors can choose from a menu of options to implement the debt relief.

Featured term of the day

Definition / Meaning of

Section 15 Declaration Of Incontestability

Categories: Patent,

a sworn statement, filed by the owner of a mark registered on the principal register, claiming “incontestable” rights in the mark for the goods/services specified. An “incontestable” registration is conclusive evidence of the validity of the registered mark, of the registration of the mark, of the owner’s ownership of the mark and of the owner’s exclusive right to use the mark with the goods/services. The claim of incontestability is subject to certain limited exceptions set forth in §§15 and 33(b) of the trademark act, 15 U.S.C. §§1065 and 1115(b). 15 U.S.C. §1065. Filing a Section 15 Declaration is optional. However, there are certain rules governing when one may be filed. A §15 Affidavit may not be filed until the mark has been in continuous use in commerce for at least five consecutive years subsequent to the date of registration for marks registered under the Act of 1946 (and subsequent to the date of publication under §12(c) of the trademark act, 15 U.S.C. §1062(c), for marks registered under the Acts of 1905 and 1881 for which the benefits of the Act of 1946 have been claimed). The §15 Affidavit must be executed and filed within one year following a 5-year period of continuous use of the mark in commerce. Marks registered on the supplemental register are not eligible for claims of incontestable rights under §15. -- see File a §15 Declaration

Most popular terms

1. Lifetime Learning Credit
2. Mortgage-backed Security
3. Likelihood Of Confusion
4. Subprime Loans
5. Tax Exempt
6. U.S. Treasury Securities
7. Portable Benefits
8. Equitable Estoppel
9. Competence
10. McDonough Ratio

Search a term

Keyword:

Browse by alphabet

ABCDEFG
HIJKLMN
OPQRSTU
VWXYZ#

Browse by category

Accounting
Banking
Bankruptcy Assistance
Bonds and Treasuries
Brokerages
Business and Management
Compliance and Governance
Credit and Debt
E-commerce
Economics
Estate Planning
Forex
Fraud
Fundamental Analysis
Futures
Global
Insurance
International Trade
Investing and Trading
Ipos
Legal
Loan and Mortgage
Mergers and Acquisitions
Mutual Funds
Operation and Production
Options
Patent
Personnel Management
Real Estate
Retirement and Pension
Statistics and Risk Management
Stocks
Strategies
Tax
Technical Analysis
Venture Capital