Terrorism Clause Call on Loan Contracts
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The possibility of a terrorist attack or other catastrophe, causing loan agreements to collapse, has prompted groups in the City of London to urge companies to insert clauses into contracts to handle such an eventuality. Counterparties, might find themselves unable to contact each other. The syndicated loan market, now have guidelines to ensure that they continue operating. A spokesman at the Association of Corporate Treasurers told the Financial Times, "in the past people have tended to act on the hoof, but now we want to put something into the loan agreements to deal with this". The paper cites a 5-day grace period for negotiating loans in the event of an emergency, that would be created under the new guidelines drawn up by the ACT and the Loan Market Association.
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Similar Areas Selected Books Keywords Association of Corporate Treasurers
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