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Ep 143 ft. Mitu & Mark

Clauses & Controversies

CHAPTER

Unconditional Rights in Bond Indentures

This chapter explores the 'unconditional rights provision' in bond indentures, emphasizing bondholders' absolute rights to payments. The speakers analyze potential modifications due to Collective Action Clauses (CACs) and highlight inconsistencies in drafting across different bonds. Through various examples, they discuss the implications of poorly articulated contractual language and the legal challenges it can create.

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