12 Be careful though!

In the case of a lending arrangement where it could be the case that the loan may not be fully drawn, the new lender as substituted party could be assuming obligations to advance monies to the borrower where the novation has taken effect
so, mechanically, if a lender wishes to exit or reduce its exposure under a particular lending position, it will want both to sell existing advances that are outstanding and to relieve itself of the obligation to make new advances