The first option offered par bonds carrying a low interest rate, a long grace period of 26 years and a final maturity of 33 years (until 2038).

The payment schedule of the latter option is 23 years without a grace period.

One suggestion was that the grace period should be longer than 20 or 30 days.

The terms reschedule ODA loans over 20 years with a grace period of 10 years.

The terms of all four include a three year grace period following initial drawdown and a seven year, interest free repayment period.

The remainder would be rescheduled at market rates over 25 years with a five year grace period.

The third option offered discounted bonds, carrying a discount of 66.3 per cent on principal, a higher coupon (part of it being capitalized), a grace period of 21 years and a final maturity of 29 years (until 2034).

Under these terms, consolidated concessional loans may be rescheduled over 20 years, with a 10 year grace period.

The prevailing view, however, was that a grace period would inadvertently result in inventory financiers withholding credit until the expiry of the grace period, since inventory was fungible and turned over so quickly that inventory financiers would be unable to monitor its movement.

This option restructures the debt servicing due during the consolidation period at market rates, but reschedules it over 25 years with a 14 year grace period.

Grace?

Grace.

After discussion, it was agreed that the commentary should elaborate on the considerations for determining the length of the grace period and the recommendation should refer to a grace period that would be as short as possible under the circumstances prevailing in the enacting State.

From his fullness we all received grace upon grace.

However, with the current pace of repatriation, most migrants will still be in Saudi Arabia when the grace period ends.

However, as not all creditors were authorized to permanently forgo debt servicing claims, there was also a non concessional option in which the debt could be rescheduled over 25 years with a 14 year grace period (interest on the deferred amounts remaining payable during the grace period).

Your Grace

Your Grace.

Grace Poole.

Your Grace...

Your Grace.

Your Grace.

Your Grace,

Your Grace.

Your Grace.

Your Grace.

Hello, Grace.

Bye, Grace.

Hi, Grace.

Grace Markway.

It may be paid provisionally for a two year period of adjustment or made final.

The period of December 2004 and January 2005 was therefore critical for making final preparations.

In the intense period of final negotiations, there was no time to discuss its contents.

In response to a question, it was noted that recommendation 3, which allowed a grace period for the registration of acquisition security rights in both inventory and equipment, provided a super priority to the acquisition financier only over creditors that obtained a security right within the grace period.

Under one option, creditors write off 50 per cent of the eligible debt over a certain period and reschedule the rest at market rates, with a repayment period of 23 years including a grace period of six years.

Grace looked angry.

Grace under pressure.

James. Grace. Emilie.

Forever. With grace.

Yes, Your Grace.

Your Grace, smile!

Oh, Your Grace.

Your Grace ? Oh.

Your Grace, reflect.

Your Grace, prepare...