Several

From ACT Wiki
Revision as of 22:20, 11 November 2013 by imported>Doug Williamson (Comma added in the first line)
Jump to navigationJump to search

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.