Intercreditor

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Precedents
This Deed is made on [insert day and month] 20[insert year]Parties1[Insert name of Chargor], a company incorporated in England and Wales with...
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9th Nov
Practice notes
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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9th Nov
Practice notes
Development of the Loan Market Association (LMA) documentationThe project to develop the LMA investment grade documents began in 1998 as a response to...
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9th Nov
Practice notes
This Practice Note covers the typical structure of facility agreements and the key terms and provisions that will be included. It examines the process...
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9th Nov
Practice notes
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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9th Nov
Practice notes
Coronavirus (COVID-19): The ICC has issued a guidance paper on the impact of COVID-19 on trade finance transactions issued subject to ICC rules. For...
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9th Nov
Practice notes
Assignment is a means by which a lender can transfer its interest in a loan to another lender.For an overview of the reasons why a lender might...
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9th Nov
Practice notes
Novation is a means by which a lender can transfer its interest in a loan to another lender.This Practice Note looks at what is meant by novation...
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9th Nov
Practice notes
A 10b-5 letter (also referred to as a 'disclosure letter') is a letter delivered to the underwriters by issuer's and underwriters' counsel in...
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Produced in partnership with Charles Farnsworth of Baker McKenzie and Adam Farlow of Baker McKenzie 12th Jan
Practice notes
Summary of advantages and disadvantages of the floating chargeThis Practice Note discusses the advantages and disadvantages of taking a floating as...
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9th Nov
Practice notes
In summary, a market disruption clause sets out how interest is calculated for a loan if a lender’s cost of funding the loan is in excess of London...
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9th Nov
Practice notes
Legal opinions are one of the key documentary conditions precedent in loan transactions. The legal opinion is a letter which sets out opinions as to...
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9th Nov
Practice notes
This Practice Note considers the main terms included in standard form shipbuilding contracts. In particular, it looks at:•standard forms of the...
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9th Nov
Precedents
This Deed of guarantee and indemnity is made on [insert day and month] 20[insert year]Parties1[Insert name of Guarantor], a company incorporated in...
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9th Nov
Practice notes
Coronavirus (COVID-19): This Practice Note contains information on subjects potentially impacted by the government and regulators' responses to the...
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9th Nov
Practice notes
Commodity repurchases (repos) are a common alternative method of financing. There are a number of advantages for both the financier and a commercial...
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Produced in partnership with Sullivan 12th Jan

Most recent Intercreditor content

Practice notes
BackgroundThe aim of the intercreditor agreement (also known as a deed of priority) is to try and deal with potential conflicts which will inevitably...
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9th Apr
Practice notes
Purpose of an intercreditor agreementWhy have an intercreditor agreement?The key purpose of the intercreditor agreement is to ensure that each type of...
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8th Apr
Practice notes
Formal creditors' committees in formal insolvencies (adminsitration, liquidation, receivership and bankruptcy)Formal creditors' committees are often...
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8th Apr
Practice notes
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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Produced in partnership with Neil Caddy and Nicholas Sullivan of Fried, Frank, Harris, Shriver & Jacobson (London) LLP 8th Apr
Practice notes
This Practice Note compares key terms of the Loan Market Association (LMA) intercreditor agreement for leveraged acquisition finance transactions...
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8th Apr
Practice notes
This Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice Note:•explains the purpose of having...
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8th Apr
Practice notes
The European leveraged finance loans market prides itself on innovation and its ability to adapt quickly and develop products to cater for current...
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Produced by Susan Whitehead of Hogan Lovells 8th Apr
Practice notes
Intercreditor agreements are complicated and detailed arrangements between two or more sets of creditors, requiring careful consideration both in...
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Produced in partnership with K&L Gates 8th Apr
Practice notes
Subordination is a way of changing the priority of claims against a debtor so that one creditor or group of creditors (the junior creditor(s)) agree...
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8th Apr
Practice notes
Creating effective security is the first step in improving a creditor's position. Once that is done, it is then necessary to ensure that the security...
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8th Apr
Practice notes
Enforcement is an important area regulated by the intercreditor agreement. This note discusses:•the situations in which mezzanine lenders typically...
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Produced in partnership with Hogan Lovells 8th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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8th Apr
Practice notes
Subordination is a way of changing the priority of claims against a debtor so that one creditor or group of creditors (the junior creditor(s)) agree...
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8th Apr
Practice notes
This table is a high level summary of common negotiated outcomes across a range of intercreditor issues affecting the relationship between the lenders...
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Produced in partnership with Neil Grant 8th Apr
Practice notes
This Practice Note discusses two types of provisions that are frequently included in intercreditor agreements that involve both senior and mezzanine...
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Produced in partnership with Hogan Lovells International LLP 8th Apr
Practice notes
PartiesIntercreditor arrangements will typically involve at least two types of creditor:•the senior lender(s), whose debt and potentially security...
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8th Apr
Practice notes
The security agentIn a syndicated loan transaction, the security agent (sometimes also known as the security trustee) (the Security Agent) will hold...
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8th Apr
Practice notes
Any transaction that involves more than one class of creditor will typically need an intercreditor agreement to be put in place. The arrival of...
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8th Apr
Practice notes
In addition to ensuring its security has been validity created and perfected, a secured party will want to ensure its security ranks as it expects...
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8th Apr
Practice notes
Competing security interests arise when more than one creditor has taken security over the same asset or group of assets. Determining the order of...
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8th Apr

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