Several: Difference between revisions
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imported>Doug Williamson (Create the page. Source: LMA Guide to Syndicated Loans and Leveraged Finance transactions Oct 2013 page 5.) |
imported>Doug Williamson m (Comma added in the first line) |
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A basis of making a commitment collectively under which each member's commitment is limited to a proportionate share of the total commitment. | A basis of making a commitment collectively, under which each member's commitment is limited to a proportionate share of the total commitment. | ||
Revision as of 22:20, 11 November 2013
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.
