Derivatives · glossary
The lenders' letter of March 2027 waiving Atlas's covenant breach under the loan. Atlas's solicitors added a paragraph in which the bank, as party to the swap, waived the cross default under the Master Agreement too. Without it, the swap would have stayed in default after the loan was clean. Exhibit 4 · Chapter 8
Explained in Chapter 8, The First Winter: Events of Default, Cross Default and the Two Hats, of Derivatives.
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