clear market

clear market
England, Wales
Wording usually included in commitment letters for a syndicated loan which prevents the borrower (and, sometimes, members of the borrower's group) from entering into other financing arrangements with lenders in the market at the same time as the arranger is trying to sell the loan.
The wording is designed to protect the arranger in case the borrower's other market activities prejudice successful syndication of the loan.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • clear market provision — USA A contractual provision in bank loan commitment letters that makes it a condition precedent to making loans that the borrower and its subsidiaries not incur any other debt or issue any securities for a specified period of time that would… …   Law dictionary

  • clear market price — Fair market price. See fair market value …   Black's law dictionary

  • clear market value — Sum which property would bring on a fair sale by a willing seller not obliged to sell to a willing buyer not obliged to buy, or fair market value, or cash value. With regard to inheritance tax, highest price obtainable. See fair market value …   Black's law dictionary

  • clear market price — Fair market price. See fair market value …   Black's law dictionary

  • clear market value — Sum which property would bring on a fair sale by a willing seller not obliged to sell to a willing buyer not obliged to buy, or fair market value, or cash value. With regard to inheritance tax, highest price obtainable. See fair market value …   Black's law dictionary

  • clear market value — The sum which property will bring on a fair sale when sold by willing seller not obliged to sell to a willing buyer not obliged to buy. 28 Am J Rev ed Inher T § 359 …   Ballentine's law dictionary

  • market value — The price property would command in the open market. The highest price a willing buyer would pay and a willing seller accept, both being fully informed, and the property being exposed for a reasonable period of time. The market value may be… …   Black's law dictionary

  • market value — The price property would command in the open market. The highest price a willing buyer would pay and a willing seller accept, both being fully informed, and the property being exposed for a reasonable period of time. The market value may be… …   Black's law dictionary

  • market value — The price for which an article is bought and sold in the ordinary course of business. 22 Am J2d Damg § 146. The price which would be agreed upon at a voluntary sale between an owner willing to sell and a purchaser willing to buy. 27 Am J2d Em D § …   Ballentine's law dictionary

  • clear value — Net value after deductions. Bouse v Hutzler, 180 Md 682, 26 A2d 767, 141 ALR 843. See clear market value …   Ballentine's law dictionary

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