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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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 |
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Banking and Finance Law LAU, Kwan Ho Contractual novations: The "partial novation" phenomenon and is advance consent absolute? |
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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. |
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LAU, Kwan Ho |
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LAU, Kwan Ho |
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LAU, Kwan Ho |
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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? |
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Contractual novations: The "partial novation" phenomenon and is advance consent absolute? |
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Contractual novations: The "partial novation" phenomenon and is advance consent absolute? |
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contractual novations: the "partial novation" phenomenon and is advance consent absolute? |
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Institutional Knowledge at Singapore Management University |
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2023 |
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https://ink.library.smu.edu.sg/sol_research/4088 |
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