clear market provision

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 compete with the syndication of the loans.

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

Игры ⚽ Нужно решить контрольную?

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