(1) The role of the lead bank is limited and phased. In direct syndicated loans, the role of the lead bank is generally limited to establishing syndicated loans, organizing relevant negotiations and drafting relevant legal documents. Once the syndicated loan contract is formally signed, the above duties and functions of the lead bank will be terminated, and the correspondent bank will formally assume the responsibility of managing the syndicated loan. At this time, the lead bank, as a member of the syndicate, is in an equal position with the ordinary participating banks, enjoys corresponding rights and undertakes corresponding obligations.
(2) The rights and obligations of member banks are relatively independent. The rights and obligations assumed by each member bank in the direct syndicated loan are independent of each other, and there is no joint relationship between them, that is, each member bank independently enjoys its rights and undertakes its obligations under the syndicated loan contract. The waiver of its rights by one member bank does not constitute the waiver of its rights by other member banks. The failure of a member bank to perform its obligations under the syndicated loan contract does not mean that other member banks fail to perform their respective obligations under the syndicated loan contract, and the corresponding responsibilities shall be borne by the member banks themselves. Unless otherwise agreed in the syndicated loan contract, other member banks will not bear any responsibility for this.
(3) Member rows are relatively stable. The member banks of the direct syndicated loan have been identified after the establishment of the syndicate, and they have participated in the related work of the syndicated loan from the beginning, and they have a deep understanding and clear expectations of the syndicated loan, and will not easily transfer their loan shares under the syndicated loan contract; On the other hand, although the syndicated loan contract stipulates that each member bank has the right to transfer its loan share under the syndicated loan contract, the syndicated loan contract also clearly limits this transfer, which also makes the composition of member banks relatively stable.
(4) All member banks use the same loan contract with the same loan conditions. The member banks of direct syndicated loans negotiate with the borrowers on syndicated loan contracts, and sign syndicated loan contracts with the borrowers with the same loan conditions.