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Cross-Collateral

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Cross-Collateral
An agreement among project participants to pool collateral, to allow recourse to each other's collateral.
Cross-Collateral
1. In project finance, a pool of assets owned by several different persons and/or organizations that is collectively used as collateral on a loan.

2. Collateral on one loan that is also used as collateral on another loan. In the event of default, both creditors have a claim on the collateral.


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A complete review of the documents can include, but may not be limited to the promissory note, deed of trust, mortgage, security agreement, personal guaranties, multiple borrower agreements, cross-collateral, and cross-default agreements, UCC filings, etc.
Buying it right: the due diligence review process by Stoller, David J. / Real Estate Weekly
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