Liability management exercises · defined & tracked

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Lexicon

Serta blocker

Blocker

A covenant requiring each affected lender's consent to amendments that subordinate existing lenders in lien or payment priority. It may also limit open market purchases to ratable offers.

Associated with Serta Simmons (2020)

Discussed at ¶¶ 6.11, 7.40–7.43 of Liability Management Exercises: Law and Practice.