Intercreditor issues in finance transactions

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Practice notes
An introduction to securities lending transactions and the Global Master Securities Lending Agreement (GMSLA)Coronavirus (COVID-19): This Practice...
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Produced in partnership with Joseph Wren of Travers Smith and Jonathan Gilmour of Travers Smith 19th May
Practice notes
ISDA definitionsThe vast majority of derivative transactions are documented by standard documentation developed and published by the International...
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19th May
Practice notes
Structure of a facility agreementThis Practice Note discusses the usual components of a bilateral, committed facility agreement to a corporate...
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19th May
Practice notes
Events of defaultThis Practice Note considers:•the purpose of events of default included in facility agreements•common events of default relating to...
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19th May
Practice notes
How is a mortgage created?A mortgage is one of the four types of security recognised under English law and described in Types of security.This...
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19th May
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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19th May
Practice notes
Perfecting security over aircraft and registering security on the UK Register of Aircraft MortgagesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020...
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19th May
Practice notes
Perfecting securityIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into...
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19th May
Practice notes
Derivatives—ISDA documentation frameworkThe International Swaps and Derivatives Association, Inc. (ISDA) is an association for participants in the...
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19th May
Practice notes
Transferring a loan by equitable assignmentAssignment is a means by which a lender can transfer its interest in a loan to another lender.For an...
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19th May
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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19th May
Practice notes
Crystallisation of floating chargesThe key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the...
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19th May
Practice notes
Borrowing base facilities—structure, key terms and risksWhat is a borrowing base facility?Borrowing base facilities ('BB Facilities') are a type of...
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Produced in partnership with Dentons 19th May
Precedents
[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...
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19th May
Practice notes
Overdrafts, term loans and revolving credit facilitiesThis Practice Note explains the features of three common types of loan facility:•overdrafts•term...
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19th May
Practice notes
Third party securityIn many commercial finance transactions, lenders expect to be given some form of credit support to increase their confidence in...
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19th May

Most recent Intercreditor issues in finance transactions content

Practice notes
Senior loans, mezzanine loans and intercreditor arrangements in real estate financeIntercreditor agreements are complicated and detailed arrangements...
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Produced in partnership with K&L Gates 16th Jun
Practice notes
Senior/mezzanine creditor intercreditor issues—document amendments and payment controlsThis Practice Note discusses two types of provisions that are...
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Produced in partnership with Hogan Lovells International LLP 15th Jun
Practice notes
Intercreditor issues on European unitranche dealsThe European leveraged finance loans market prides itself on innovation and its ability to adapt...
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Produced by Susan Whitehead of Hogan Lovells 15th Jun
Practice notes
Senior/mezzanine creditor intercreditor issues—enforcementEnforcement is an important area regulated by the intercreditor agreement. This note...
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Produced in partnership with Hogan Lovells 15th Jun
Practice notes
Restructuring an acquisition finance dealBREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation...
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Produced in partnership with Neil Caddy and Nicholas Sullivan of Fried, Frank, Harris, Shriver & Jacobson (London) LLP 14th Jun
Practice notes
The security agent and security trust provisionsThe security agentIn a syndicated loan transaction, the security agent (sometimes also known as the...
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14th Jun
Q&As
What is marshalling and when does it apply?What is marshalling?Marshalling gives a singly-secured creditor a right in equity to require a...
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5th Jun
Q&As
In the context of intra-group loans, is a subordination deed only required to subordinate loans from non-obligor lenders to obligor debtors? Is there...
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5th Jun
Practice notes
Acquisition finance—intercreditor agreement—key provisions Purpose of an intercreditor agreementWhy have an intercreditor agreement?The key purpose of...
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4th Jun
Practice notes
Intercreditor rights comparison table: super senior revolving facility and senior secured notesThis table is a high level summary of common negotiated...
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Produced in partnership with Neil Grant 4th Jun
Practice notes
Acquisition finance—intercreditor agreement—parties and structuresAny transaction that involves more than one class of creditor will typically need an...
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4th Jun
Practice notes
Intercreditor agreement—key provisionsThis Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice...
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4th Jun
Practice notes
A comparison of the LMA REF Intercreditor Agreements against the LMA Leveraged Intercreditor AgreementThis Practice Note compares key terms of the...
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4th Jun
Practice notes
Intercreditor rights comparison table—junior debt instrumentsThis table:•is a high level summary of common negotiated outcomes across a range of...
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Produced in partnership with Neil Grant 4th Jun
Practice notes
Senior/mezzanine creditor intercreditor issues—introductionLeveraged finance transactions are often funded from a number of different sources. Equity...
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Produced in partnership with Hogan Lovells International LLP 4th Jun
Practice notes
Drafting and negotiating intercreditor arrangements in loan transactionsPartiesIntercreditor arrangements will typically involve at least two types of...
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4th Jun

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