Intercreditor Agreement

By November 5, 2021No Comments

An agreement between / among the main creditors of a project Borrower governing the relationships among those lenders in respect of the borrower’s obligations. Typically such an agreement will contain provisions regarding matters such as:

  • Common terms
  • Order of drawdown
  • Cashflow waterfall
  • Limitation on ability of creditors to vary their rights
  • Voting rights
  • Notification of defaults
  • Order of applying the proceeds of debt recovery