Event of default and Evergreen deposit: Difference between pages

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imported>Doug Williamson
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imported>Doug Williamson
(Create page. Source: UK Money Markets Code April 2017: http://www.bankofengland.co.uk/markets/Documents/money/code/ukmoneymarketscode.pdf)
 
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The event of breaching a loan agreement. 
A short-term deposit that is routinely renewed, effectively leaving the principal outstanding for the long term.
 
 
Each loan agreement will normally define exactly what constitutes an event of default of that agreement.
 
Events of default will generally include:
*any failure to pay interest or capital on a due date,  
*any failure to comply with a covenant, and
*any inability to repeat a representation.




== See also ==
== See also ==
* [[Acceleration]]
* [[Evergreen facility]]
* [[Breach of covenant]]
* [[Principal]]
* [[Covenant]]
* [[Cross default]]
* [[Default]]
* [[Financial covenant]]
* [[Grace period]]
* [[Loan agreement]]
* [[Material adverse change]]
* [[Representations and warranties]]
* [[Waiver]]
* [[Putting a limit on losses]]
 
[[Category:Compliance_and_audit]]
[[Category:Identify_and_assess_risks]]

Revision as of 17:01, 25 June 2017

A short-term deposit that is routinely renewed, effectively leaving the principal outstanding for the long term.


See also

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