Consent Solicitation

Definition:

The solicitation from the interested parties of consent to a particular change (or changes).

In the corporate governance context, when a company seeks consent from its shareholders or other stakeholders to take an action; for example, this may occur during a Proxy dispute.

In debt transactions, when an issuer seeks consent from bondholders to a change of the terms and conditions set out in an Indenture or waiver of a default. Bondholders consenting to the proposed change may also receive a Consent Fee.

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