In the event that the parties have agreed to a turnover trust, all the subordinate creditor`s claims are part of the creditors` principal assets. Such an asset is valid until the principal creditor receives a full payment to priority debt. It goes without saying that claims, such as the payment of premiums or interest resulting from post-debt debt, remain, after the emphasis on the property rights of the priority creditor, in the order of trust of subordinated creditors. Since such subordination is a real property right for the principal creditor, it is the most preferred method used in practice. This method can also be obtained through contractual agreements, but it is often ordered with confidence. The pioneering compliance jurisprudence, such as undercutting the turnover of trust functions, is Re British and Commonwealth Holdings Plc. (No. 3). As a general rule, joint guarantee agreements also provide for the implementation of a single set of direct agreements with major project counterparties (the host government, the buyer, the engineering, purchase and construction contractor, etc.) that benefit all lenders. It may be inequity to obtain several direct agreements different from these counterparties for each group of lenders (although it is not uncommon for these counterparties to try to negotiate their specific direct agreement). In any event, it is important that lenders strive, as far as possible, to maintain a coherent form of direct agreement.
Project financing is an indispensable tool that governments and banking companies can use to increase their volume and role in the market economy. In particular, if such an issue is to be implemented in a developing country like Turkey, not only the national government, along with the funding units, but also foreign governments could begin to generate interest through the success of this project. A review of the mechanisms invoked by the parties to finance projects – especially for mega-buildings that require constant cash flow with significantly high figures, since the main risk to project financing in developing countries is the volatility of the economy and the ability of the project to repay its financing, becomes a must to indicate critical points as well as their differences , pros and cons and conditions. In this way, not only is a useful text made available to practitioners, but the theories that form the basis are also clarified. Under Turkish law, the concept of subordination is not regulated as stipulated by the common law and some other civil courts. However, the subordination agreement should not be confused with the notion of subordination, which is simply found when a third party makes the debt deed in contractual relation and becomes the new debtor of such a contractual relationship. Moreover, the conclusion of such an agreement is not subject to the concept of a third-party contract under Turkish law, as is the case in some other civil law authorities such as France, Belgium, Luxembourg, Greece, Switzerland and Japan. Agreement between borrower and lender on costs, disposal and repayment of debt. The timetable outlines the most important funding conditions. The appointment sheet is the basis for the arranger most responsible for concluding the credit authorization for the liability activity, usually by signing the agreed schedule.