Several: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson m (Comma added in the first line) |
imported>Doug Williamson m (See also added 13/11/13) |
||
| Line 5: | Line 5: | ||
This means that if any lender fails to honour its obligations as a member of the syndicate, the other syndicate members have no legal duty to fulfil those obligations on the other lender's behalf. | This means that if any lender fails to honour its obligations as a member of the syndicate, the other syndicate members have no legal duty to fulfil those obligations on the other lender's behalf. | ||
==See also== | |||
* [[Syndicate]] | |||
* [[Several]] | |||
[[Category:Bank_Lending]] | [[Category:Bank_Lending]] | ||
[[Category:Legal_Documentation]] | [[Category:Legal_Documentation]] | ||
[[Category:Regulation_and_Law]] | [[Category:Regulation_and_Law]] | ||
Revision as of 09:17, 13 November 2013
A basis of making a commitment collectively, under which each member's commitment is limited to a proportionate share of the total commitment.
In relation to syndicated loans, each member of the lending syndicate acts on a several basis.
This means that if any lender fails to honour its obligations as a member of the syndicate, the other syndicate members have no legal duty to fulfil those obligations on the other lender's behalf.
