Contractual novations: The "partial novation" phenomenon and is advance consent absolute?

Loan agreements, particularly those documenting a syndicated lending arrangement, may provide that a lender's rights and obligations are transferable to another bank or financial institution by delivery of a duly completed and executed transfer certificate to a designated person, such as a faci...

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Main Author: LAU, Kwan Ho
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Language:English
Published: Institutional Knowledge at Singapore Management University 2023
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Online Access:https://ink.library.smu.edu.sg/sol_research/4088
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spelling sg-smu-ink.sol_research-60462023-02-08T03:14:56Z Contractual novations: The "partial novation" phenomenon and is advance consent absolute? LAU, Kwan Ho Loan agreements, particularly those documenting a syndicated lending arrangement, may provide that a lender's rights and obligations are transferable to another bank or financial institution by delivery of a duly completed and executed transfer certificate to a designated person, such as a facility agent. The borrower's active participation is not required in this process. That has not prevented English law from recognising the transfer to be an effective novation, for the borrower is said to have consented in advance to the novation through its agreement to the transfer clause. Is the lender's ability to transfer its loan interests an unfettered one? An interesting question also arises as to the effect of a novation with one lender on the other syndicate lenders' contracts. 2023-01-01T08:00:00Z text https://ink.library.smu.edu.sg/sol_research/4088 Research Collection Yong Pung How School Of Law eng Institutional Knowledge at Singapore Management University Banking and Finance Law
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Banking and Finance Law
spellingShingle Banking and Finance Law
LAU, Kwan Ho
Contractual novations: The "partial novation" phenomenon and is advance consent absolute?
description Loan agreements, particularly those documenting a syndicated lending arrangement, may provide that a lender's rights and obligations are transferable to another bank or financial institution by delivery of a duly completed and executed transfer certificate to a designated person, such as a facility agent. The borrower's active participation is not required in this process. That has not prevented English law from recognising the transfer to be an effective novation, for the borrower is said to have consented in advance to the novation through its agreement to the transfer clause. Is the lender's ability to transfer its loan interests an unfettered one? An interesting question also arises as to the effect of a novation with one lender on the other syndicate lenders' contracts.
format text
author LAU, Kwan Ho
author_facet LAU, Kwan Ho
author_sort LAU, Kwan Ho
title Contractual novations: The "partial novation" phenomenon and is advance consent absolute?
title_short Contractual novations: The "partial novation" phenomenon and is advance consent absolute?
title_full Contractual novations: The "partial novation" phenomenon and is advance consent absolute?
title_fullStr Contractual novations: The "partial novation" phenomenon and is advance consent absolute?
title_full_unstemmed Contractual novations: The "partial novation" phenomenon and is advance consent absolute?
title_sort contractual novations: the "partial novation" phenomenon and is advance consent absolute?
publisher Institutional Knowledge at Singapore Management University
publishDate 2023
url https://ink.library.smu.edu.sg/sol_research/4088
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