What does the Concept of Security Mean to Lenders in Project Finance?
Article from: OGEL Archive issue , in Economic and Commercial Context for Oil, Gas and Energy Law
Summary
This paper analyses the meaning of the concept of security in project finance by comparing it with the concept of security in corporate finance in order to highlight differences between the two concepts and goes further to discusses the various distinctive monitoring and controlling features peculiar to project finance. It asserts that unlike the concept of security in corporate finance, because the repayment structure in project finance is based on project revenue, security in project finance encompasses all the tangible and intangible project assets and is in reality anything ...