Cross acceleration: Difference between revisions
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imported>Doug Williamson (Add link.) |
imported>Doug Williamson (Add links.) |
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* [[Cross default]] | * [[Cross default]] | ||
* [[Financial covenant]] | * [[Financial covenant]] | ||
* [[Grace period]] | |||
* [[Loan agreement]] | * [[Loan agreement]] | ||
* [[Materiality]] | * [[Materiality]] | ||
* [[Waiver]] | |||
[[Category:Long_term_funding]] | [[Category:Long_term_funding]] | ||
[[Category:Treasury_operations_infrastructure]] | [[Category:Treasury_operations_infrastructure]] | ||
Revision as of 14:51, 29 April 2020
Loan documentation.
A clause in a loan agreement.
It states that the acceleration of a loan with any other lender, following an event of default under another loan agreement, is also an event of default under this agreement.
It is designed for the benefit of the lender, to ensure that the lender will enjoy a 'seat at the table' in any refinancing negotiations with the defaulting borrower.
