All monies: Difference between revisions
imported>John Grout mNo edit summary |
imported>Doug Williamson m (Add category.) |
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A term used in or in relation to either (i) some [[security]] undertakings or (ii) prohibitions of the granting of such security undertaking(s) ("[[negative pledge]]") in loan, note or bond documentation or in references thereto or discussion thereof. Thus an "all monies security" or "all monies negative pledge". | A term used in or in relation to either (i) some [[security]] undertakings or (ii) prohibitions of the granting of such security undertaking(s) ("[[negative pledge]]") in loan, note or bond documentation or in references thereto or discussion thereof. Thus an "all monies security" or "all monies negative pledge". | ||
"All monies" is taken as referring to the security granted or prohibited applying to all amounts that a debtor owes or may owe, irrespective of how arising, to either (i) the creditor benefitting from the security or (ii) any other creditor under existing or future arrangements of any kind. | "All monies" is taken as referring to the security granted or prohibited applying to all amounts that a debtor owes or may owe, irrespective of how arising, to either | ||
(i) the creditor benefitting from the security or | |||
(ii) any other creditor under existing or future arrangements of any kind. | |||
By contrast, security granted or prohibited may apply only to the specific obligation(s) (or classes of obligation) incurred under a particular contract or particular contracts only. This would be referred to as a "specific monies" security or negative pledge. | By contrast, security granted or prohibited may apply only to the specific obligation(s) (or classes of obligation) incurred under a particular contract or particular contracts only. This would be referred to as a "specific monies" security or negative pledge. | ||
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* [[Pari passu clause]] | * [[Pari passu clause]] | ||
* [[Security]] | * [[Security]] | ||
[[Category:Manage_risks]] | |||
Latest revision as of 14:12, 8 October 2020
A term used in or in relation to either (i) some security undertakings or (ii) prohibitions of the granting of such security undertaking(s) ("negative pledge") in loan, note or bond documentation or in references thereto or discussion thereof. Thus an "all monies security" or "all monies negative pledge".
"All monies" is taken as referring to the security granted or prohibited applying to all amounts that a debtor owes or may owe, irrespective of how arising, to either
(i) the creditor benefitting from the security or
(ii) any other creditor under existing or future arrangements of any kind.
By contrast, security granted or prohibited may apply only to the specific obligation(s) (or classes of obligation) incurred under a particular contract or particular contracts only. This would be referred to as a "specific monies" security or negative pledge.
