Passport and Several: Difference between pages
From ACT Wiki
(Difference between pages)
imported>Doug Williamson (Create the page. Sources: linked pages.) |
imported>Doug Williamson m (Added 'Several liability' to see also 5/2/14) |
||
| Line 1: | Line 1: | ||
' | 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 loan]]s, each member of the lending syndicate acts on a several basis. | |||
== See also == | 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 liability]] | |||
[[Category:Long_term_funding]] | |||
[[Category:Treasury_operations_infrastructure]] | |||
[[Category:Compliance_and_audit]] | |||
Revision as of 15:26, 5 February 2014
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.
