[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower]Dear [insert full name of borrower]1We refer to...
European PIK loan facilitiesThis Practice Note provides information on European PIK loan facilities (PIK facilities). It discusses:•the key features...
Bilateral, syndicated and club arrangementsOne of the features used to categorise loans is the number of lenders involved. A loan involving one lender...
The facility agentThis Practice Note covers the duties and role of the facility agent (defined in the Loan Market Association (LMA) documentation as...
Loan Market Association (LMA)—news on documentation [Archived]This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA...
[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower]Dear [insert name of borrower],We are pleased to...
Subordination—key parties and common usesSubordination is a way of changing the priority of claims against a debtor so that one creditor or group of...
Intercreditor agreement—key provisionsThis Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice...
Deed of priority: single company borrower—single senior secured lender—single junior secured lenderThis Deed is made [insert day and month] 20[insert...
Priority between security interestsIn addition to ensuring its security has been validity created and perfected, a secured party will want to ensure...
Tacking further advances to existing securityCreating effective security is the first step in improving a creditor's position. Once that is done, it...
Drafting and negotiating intercreditor arrangements in loan transactionsPartiesIntercreditor arrangements will typically involve at least two types of...
Contractual priority—varying the basic rules on prioritiesCompeting security interests arise when more than one creditor has taken security over the...
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