LMA launches intercreditor agreement for real estate finance

LMA launches intercreditor agreement for real estate finance

The LMA has launched the 'REF Intercreditor'—a new recommended form of Intercreditor Agreement for use in real estate finance transactions. The REF Intercreditor ranks creditors’ debt and their entitlements to the proceeds of any guarantees and security, and controls aspects such as when and by whom security might be enforced and when payments can be made by a borrower to a given class of creditor. The LMA has also published the LMA Intercreditor User Guide for Real Estate Finance Transactions, which explains the structure of the assumed transaction and includes a helpful structure diagram on page 6.

The REF Intercreditor was produced in

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About the author:

Meet Suzanna:

1. Banking and finance lawyer with experience in real estate finance, trade finance and aviation finance

2. Likes skiing, comedy shows and listening to live music

3. Thinks the law is not for the fainthearted

Suzanna has wide-ranging experience in banking and finance transactions with particular emphasis on advising lenders in the context of real estate finance and trade finance, and advising on ECA supported aviation finance transactions. Suzanna qualified as a solicitor in 2001 with Theodore Goddard (now Addleshaw Goddard LLP) and has since gained experience with Barclays Bank PLC, ECGD and Crédit Agricole CIB before joining LexisNexis.