5. Decisions taken by the majority of creditors (75% in value and 50% in number) in the consortium would be considered the basis for further account restructuring and are binding on all lenders in accordance with the Inter-Creditor agreement. If the consortium decides to proceed with the recovery, the minimum criteria for a binding decision apply, if necessary, in accordance with the relevant laws or laws. 7.3 Provided that the consortium can, with the agreement of all recognized creditors, give a higher priority to these loans than existing debt securities. 1. Explore which publishers have the best arrangements for your needs. 3. Add the author`s endorsement of the Big Ten Academic Alliance (BTAA) to the Publishing Agreement (b) Restructuring:- Consider the possibility of restructuring the account if it is at first sight viable and if the borrower is not an intentional retardant, i.e. there is no embezzlement, fraud or fault, etc. The obligation on the promoters to renew their personal guarantee, as well as their net worth declaration, supported by copies of rights securities on assets, can be obtained, accompanied by the declaration that they would not carry out a transaction that would dispose of assets without the bank`s authorization. Any deviation from the obligation of borrowers affecting the security or recovery capacity of the loan may be considered a valid factor in the opening of the recovery process. The lenders of the consortium can sign an Inter Creditor agreement and require the borrower to sign the debtor-creditor agreement, which would form the legal basis for any restructuring process.
In addition, the debtor-creditor contract may provide for a status quo clause (as defined in the advance restructuring guidelines) to allow for a smooth restructuring process. The status quo does not mean that the borrower is excluded from payments to lenders. The Inter Creditor agreement may also provide that secured and unsecured creditors must accept final liquidation. The Big Ten Academic Alliance (formerly committee on institutional cooperation) is a consortium of 14 research universities that collaborate on various initiatives. Such an initiative is to provide faculties with options to help them manage their copyrights. The BTAA has developed an addendum that can be attributed to publication agreements. The addendum allows the author to retain the rights to his work for teaching and research purposes.