LSTA publishes exposure draft of the borrower deemed consent language

By Sara Rosenberg

New York, May 4 - The LSTA published an exposure draft of the borrower deemed consent language in credit agreements, according to a news release.

In the exposure draft, there are proposed revisions provide that the borrower shall be deemed to have consented to an assignment unless it has objected within five business days after receiving notice of the assignment.

The exposure draft will remain posted for about one month before being published in final form.

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