Security & Collateral · glossary
A lender's letter after a breach saying it knows of the default, does not waive it, is not acting on it for now, and keeps every right. It stops the lender's normal conduct being read as a waiver. It names the breach but demands nothing. Chapter 8
Explained in Chapter 8, The Breach, the Waiver and the Blocked Account, of Security & Collateral.
The Bank's first step was a letter. A week after the certificate, it sent a reservation of rights letter. The letter said four things…Read Chapter 8, The Breach, the Waiver and the Blocked Account →
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