no front-running provision
- no front-running provision
-
England, Wales
The provision is particularly important if the loan is underwritten as the process of front-running may distort an arranger's or bookrunner's primary market and adversely affect syndication leaving the underwriter with additional debt to underwrite.
The prohibition on front-running is often extended to each of the primary syndicate lenders as a similar provision may be included in their confidentiality letters which each lender must sign before it receives the information memorandum.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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