Responsibilities and obligations of syndicated loan participants
As well as gaining the benefits of the syndicated loans market, the parties involved all have definite responsibilities and obligations to which they must adhere. These duties are described in the section on an introduction to syndicated loans of Chapter 1.
The borrower
The information memorandum
The information memorandum is prepared by the arranger in consultation with the borrower and possibly the borrower’s accountants and legal advisers. The borrower would trigger an Event of Default under the terms and conditions of the loan agreement – giving the participants the right to call for immediate repayment of the syndicated loan – if it were to make any statement or claim ...
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