Several

From ACT Wiki
Jump to: navigation, 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. 


See also