cross guarantee
noun[C]
ukusFINANCE
apromisemade by anumberofcompaniesin agroupthat aloanto one of thecompanieswill bepaidback, if thatcompanycannotpayback theloanitself:
Although some of the company'sdebthas acrossguaranteefromitspartner, bothcompaniesareprobablyworthless than thedebttheysupport.
across-guaranteeagreement
cross-guaranteed
adjective
Thecompanyis awhollyowned, cross-guaranteedsubsidiaryof Benson UKplc.