LMA revises co-ordinating committee appointment letters

The Loan Market Association (LMA) has published updated company and lender co-ordinating committee appointment letters and the accompanying guidance notes. It has also launched a rider designed for use where funds or other non-bank lenders are serving as members of the co-ordinating committee.

Among the key changes made to the co-ordinating committee appointment letters are:

  • removing the concept of a ‘co-ordinator’ and replacing it with a flat committee structure, potentially headed by a chairperson
  • expansion of the description of the underlying transaction, so that it can be more easily tailored to fit the particular circumstances of the relevant matter
  • streamlining of the description of the role and function of the committee
  • changes in relation to indemnity provisions
  • inclusion of provisions covering payment and quantum of fees to the co-ordinating committee

Members can log into the LMA website using their username and password.

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