Cross default: Difference between revisions
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imported>Administrator (CSV import) |
imported>Doug Williamson m (Spacing) |
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''Loan documentation.'' | ''Loan documentation.'' | ||
A clause in a loan agreement. It states that a default with any other lender will constitute a default under this agreement. | A clause in a loan agreement. It states that a default with any other lender will constitute a default under this agreement. | ||
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* [[Loan agreement]] | * [[Loan agreement]] | ||
* [[Materiality]] | * [[Materiality]] | ||
Revision as of 12:45, 5 August 2013
Loan documentation.
A clause in a loan agreement. It states that a default with any other lender will constitute a default under this agreement.
It is designed for the benefit of the lender to ensure that they will enjoy a 'seat at the table' in any refinancing negotiations with the defaulting borrower.
