Priority in Security and Right of Payment — Incremental Facility
Description
This AI field captures the treatment of security and right of payment for incremental facilities / increases in commitment. This AI field does not capture similar provisions regarding refinance / replacement facilities, incremental notes, or incremental equivalent debt. It is recommended that this smart field be used together with the other Incremental Facility smart fields.
Jurisdiction
- Australia
- Canada (Alberta, British Columbia, and Ontario)
- United Kingdom (England)
- United States (California, Illinois, New York, and Texas)
Document Types
- 78% Debt Related Agt
- 22% Debt Supplemental Agt
Tags
- Bankruptcy/Recession Planning — Credit Agreements
- Credit/Facility Agreements
Language
- 100% English