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Springing lien: Difference between revisions
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{{ | {{a|security|{{image|Springen-verboten|jpg|}}}}{{d|Springing lien|/ˈsprɪnʤɪŋ/ /lɪən/|n|}} | ||
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A [[security interest]] that takes everyone by surprise. A [[lien]] on a debtor’s property that kicks in should a pre-defined event happen. For example, a loan may include a springing lien that requires the borrower to pledge its assets to secure the loan if the borrower's [[Ratings notches|credit rating]] is downgraded. Compare with a [[floating charge]]. | A [[security interest]] that takes everyone by surprise. A [[lien]] on a debtor’s property that kicks in should a pre-defined event happen. For example, a loan may include a springing lien that requires the borrower to pledge its assets to secure the loan if the borrower's [[Ratings notches|credit rating]] is downgraded. Compare with a [[floating charge]]. | ||
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*[[Strange negotiation]] | *[[Strange negotiation]] | ||
*[[Security interest]] | *[[Security interest]] | ||
*{{nycsaprov|Representations}} under a {{sicsa}} | |||