Fully Underwritten Deal | Practical Law

Fully Underwritten Deal | Practical Law

Fully Underwritten Deal

Fully Underwritten Deal

Practical Law Glossary Item 7-382-3505 (Approx. 2 pages)

Glossary

Fully Underwritten Deal

In the context of a bank loan financing, one or more initial lenders commits to fund 100% of the loans whether or not they are able to syndicate part of the loans to other lenders. This is in contrast to a best efforts deal where an agent bank agrees to use its best efforts (or commercially reasonable efforts) to arrange a syndicate of lenders that will make the loan but has no obligation to make the loans itself.