Best-efforts deal
From ACT Wiki
1. Loans.
A syndicated loan, in which the arrangers commit to only part of the total amount required and undertake to do their best to find other lenders to join the syndicate, for the remainder of the total amount required by the borrower.
2. Securities issuance.
In relation to an issue of securities, an arrangement in which an agent sells securities on behalf of the issuer, but does not guarantee the amount of capital it will raise.
