cross-collateral clause

Definitions

1. Banking: Common stipulation in loan agreements under which a bank has a legal right to seize any or all assets pledged by a borrower (for different loans with the same bank) even if only one loan goes into default. Bankers justify this clause on the logic that a default sours the bank-client relationship, not a just a loan agreement. See also cross default clause.

2. Contracting: Agreement between joint contractors to pool their guaranties in handling a large project. Its objective is that (in case one of them fails to perform the contract) others will have recourse to that contractor's guaranty(s) to ensure the continuity of the project.

单词	cross-collateral clause
释义	cross-collateral clause Definitions 1. Banking: Common stipulation in loan agreements under which a bank has a legal right to seize any or all assets pledged by a borrower (for different loans with the same bank) even if only one loan goes into default. Bankers justify this clause on the logic that a default sours the bank-client relationship, not a just a loan agreement. See also cross default clause. 2. Contracting: Agreement between joint contractors to pool their guaranties in handling a large project. Its objective is that (in case one of them fails to perform the contract) others will have recourse to that contractor's guaranty(s) to ensure the continuity of the project.
随便看	borrower borrowing Borrowing Authority of Pension Benefit Guaranty Corporation (PBGC) borrowing capacity borrowing cost borrowing powers Borsodi's law boss Boston plan Boston Stock Exchange (BSE) bot botanicals both/and bottle bottleneck bottleneck principle bottom bottom fisher bottom fishing bottomland bottom line bottom-line growth bottom of the pyramid bottomry bottomry bond