Debt cancellation contract

Debt cancellation contract means a loan term or contractual arrangement modifying loan terms under which a bank agrees to cancel all or part of a customer's obligation to repay an extension of credit from that bank upon the occurrence of a specified event. The agreement may be separate from or a part of other loan documents.

Source

12 CFR § 37.2


Scoping language

For purposes of this part:

Is this correct? or