Lead Bank (Noun)
Meaning
A bank named by a lending syndicate of several banks to protect their interests.
Classification
Nouns denoting groupings of people or objects.
Examples
- The lead bank was responsible for coordinating the loan and ensuring that all parties were in compliance with the agreement.
- In the event of default, the lead bank would take the lead in negotiating a restructuring of the loan.
- The lending syndicate appointed Bank of America as the lead bank to oversee the $1 billion loan to the struggling company.
- As the lead bank, JPMorgan Chase was responsible for distributing the loan proceeds to the borrower.
- The lead bank worked closely with the borrower to ensure that all covenants and conditions of the loan were met.