transferable underwriting facility (TRUF)


A form of underwriting facility that allows lenders to fully transfer their obligations and commitments (including the underwriting itself) to other parties. This gives purchasers a backup method to satisfy their commitments, by transferring them to another party who is capable of completing the transaction. Also called transferable revolving underwriting facility.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
transferable option transfer-for-value rule