Restructuring Plans · glossary
A contract between creditors who share security, which says who is paid first. Under Valkenrade’s, everything recovered goes to the bank until both its loans are repaid, and only then to the new Notes. A security agent holds the security for all of them. Term sheet, security and ranking · Chapter 5 · see New money
Explained in Chapter 5, Restructuring Terms: New Notes, New Money and Security, of Restructuring Plans.
An intercreditor agreement is a contract between creditors who share security. It says who is paid first. The security agent holds the security for all of them, and takes its orders from the bank until the bank is repaid.Read Chapter 5, Restructuring Terms: New Notes, New Money and Security →
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This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open Restructuring Plans → · All terms A–Z →