Cross default: Difference between revisions
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* [[Loan agreement]] | * [[Loan agreement]] | ||
* [[Materiality]] | * [[Materiality]] | ||
* [[Cross acceleration]] | |||
[[Category:Long_term_funding]] | |||
[[Category:Long_term_funding]] | |||
[[Category:Treasury_operations_infrastructure]] | |||
Revision as of 17:32, 13 June 2014
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.
