Syndicates Clause Samples
The 'Syndicates' clause defines the rules and structure for groups of parties, often lenders or insurers, who collectively participate in a financial or insurance arrangement. It typically outlines how responsibilities, rights, and obligations are shared among syndicate members, including decision-making processes and the distribution of payments or losses. For example, in a loan syndication, this clause would specify how multiple banks coordinate to provide a single loan to a borrower. The core function of this clause is to ensure clear governance and coordination among multiple parties acting together, thereby reducing confusion and potential disputes within the syndicate.
Syndicates. A Permitted Mortgagee may consist of a syndicate of Institutional Lenders or other syndicate meeting the definition of Permitted Mortgagee; provided, however, that (i) only one Institutional Lender or a duly authorized professional servicer representing all lenders may exercise the rights of the Permitted Mortgagee hereunder; (ii) such Institutional Lender shall be designated by a notice delivered to District and executed by all of the Institutional Lenders in such syndicate; (iii) District shall deal solely with such Institutional Lender, on behalf of such syndicate, as the sole Permitted Mortgagee hereunder; (iv) the actions taken, and the documents executed, by such Institutional Lender shall be binding upon all Persons in such syndicate; and (v) District shall be permitted to disregard any notice, demand, direction, or other communication received from any Institutional Lender in such syndicate that is not such designated Institutional Lender.
Syndicates. Whenever your firm participates in or manages a syndicate that is settled by Pershing, we will pass along to your firm costs incurred for depository fees and closing representation. When your firm acts as lead manager, clearance charges between the firm "syndicate" account and the "firm take down" account will be ________ **[Confidential treatment requested for a portion of this Schedule.]**. The following additional charges may apply: **[Confidential treatment requested for a portion of this Schedule.]**