Oct 3, 2018 13:10: Enrique Manzo changed "Term Context" from "X as creditor, X in buyside An auction process was commenced for Company U, a privately held portfolio company of Sponsor U. Bankers within the Sponsors Group began forming ** trees ** to represent various buyers and a common carrier was established early in the process with Leveraged Finance and industry bankers. Company U had recently completed a refinancing and provided confidential information to its lending group, which included X. The industry bankers who worked on this refinancing were now seeking to work on the common carrier in the auction process. As the deal progressed through the auction process, a few more facts emerged: One of the Sponsor bankers logged onto a buyside ** tree ** requested and received confidential information from X Lending that was provided in connection with the refinancing A banker on one of the losing ** trees ** began working with another ** tree ** which is believed to be in the final rounds of the auction process without informing Conflict Clearing" to "An auction process was commenced for [Company], a privately held portfolio company of [Sponsor]. Bankers within the group began forming ** trees ** to represent various buyers. One of the bankers logged onto a buyside ** tree ** requested and received confidential information."