When issuing debt securities, the investor has no influence over the company in which the investment takes place. However, the borrower is contractually bound to take or not to take certain measures in accordance with the debenture and its terms and conditions. When issuing debentures, the investor entrusts a large part of the influence over the investment to a loan agent, meaning that it is the agent that exclusively represents all lenders to the borrower in all essential respects, such as no repayment, realisation of any collateral etc. Note that the lender obligation to act towards the borrower requires certain majority decisions from the lenders and that lenders guarantee the agents costs and fees. The exact terms and conditions are stated in the debenture and its general terms and conditions.