Cross-Collateral

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.
References in periodicals archive ?
based Charles Gallagher also said the CU had no cross-collateral clause in the mortgage contract, which would let them repossess the car in the event she fell behind on mortgage payments.
Florida mortgage mess
Other acts dress their albums with special guests in order to trade cross-collateral fanbases, and Jay-Z is no stranger to that approach.
RAPPING IT UP IN STYLE; CD OF THE WEEK
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
Fitch considers the Affirmation Factor (the primary rationale for C-tranche ratings) for Series 2012-3 C-tranche to be very high based on the strategic importance of both aircraft types in UAL's fleet, standard cross-default and cross-collateral provisions under each of the Series 2012-1 and Series 2012-2, and the low funding cost expected for this transaction.
Fitch Rates Continental's Proposed 2012-3 Class C Ctfs 'BB-'
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