This Practice Note is intended as an introductory guide to acquisition finance for those with no, or limited knowledge of the area. It explains: • what acquisition...
[To be printed on the headed paper of the agent] [insert date] To: [insert full name and address of borrower] Dear [insert full name of borrower] 1 We refer to the...
During the term of a facility, the borrower's financial position is likely to fluctuate. Sometimes, its circumstances change to such an extent that it wants the terms of...
Reasons for amending security documents and key risks Reasons for amending a security document There are situations where parties may consider amending security...
This Agreement is made on [insert date] Parties 1 [insert name of Borrower], a company incorporated in England and Wales with registered number [insert company number]...
[To be printed on the headed paper of the lender] [insert date] To: [insert name and address of borrower] [and] [[insert name and address of guarantor, if applicable]]...
This Agreement is made on [date] Parties 1 [insert name of Borrower], a company incorporated in England and Wales with registered number [insert company number] whose...
The derivative contracts regime represents a comprehensive, self-contained and exclusive regime for the taxation of a company's derivative transactions in the UK. It only...
[TO BE PRINTED ON THE HEADED PAPER OF THE BORROWER] [insert date] To: [insert full name and address of agent for service of process] Dear [insert full name of process...
To be printed on the headed paper of the arranger[s] [insert date] To: [insert full name and address of borrower] Dear [insert full name of borrower] 1 We refer to the...
The lender's lawyers usually co-ordinate the execution of the finance documents either through a physical signing meeting or a virtual signing. The borrower's lawyers...
This Practice Note considers the UK taxation treatment of securitisation companies that fall within the scope of the permanent securitisation regime. It explains: • what...
One of the features used to categorise loans is the number of lenders involved. A loan involving one lender is known as a 'bilateral loan'. A loan involving more than one...
Company number: [insert company number] [insert company name] [LIMITED OR PLC] Minutes of a meeting of the board of directors (the Meeting) of [insert full name of...
COMPANY NUMBER: [insert company number] [insert company name] [LIMITED OR PLC] Minutes of a meeting of the board of directors (the Meeting) of [insert full name of...
Company number: [insert company number] [insert company name] [Limited OR PLC] Minutes of a meeting of the board of directors (the Meeting) of [insert full name of...
COMPANY NUMBER: [insert company number] [insert company name] [LIMITED OR PLC] Minutes of a meeting of the board of directors (the Meeting) of [insert full name of...
As of exit day, the UK is no longer an EU Member State, but it has entered an implementation period during which it continues to be treated by the EU as a Member State...
This Practice Note is in the process of being comprehensively updated to reflect the UK’s exit from the EU on 31 January 2020. As of exit day, the UK is no longer an EU...
This Practice Note summarises the main tax issues arising for the UK acquisition group in a private equity-backed buyout. In particular the note: • describes the tax...
[On headed notepaper of a potential syndicate member] To: [insert the full name and address of the arranger] [insert date] Dear [insert the full name of arranger] 1...
[On headed notepaper of a potential syndicate member] To: [insert the full name and address of the arranger] [insert date] Dear [insert full name of arranger] 1 Facility...
This Practice Note explains certain common financial covenants used in commercial finance transactions including: • minimum net worth test • gearing ratio • leverage...
The UK and US secondary (private) debt trading markets are very similar when transacted on the suite of documents issued by the Loan Market Association (LMA) in the UK...
In financing transactions, conditions precedent are the conditions that need to be fulfilled for funding to occur. This Practice Note explains: • the nature of conditions...
Timing This phase often overlaps with the Finance documents phase in loan transactions. Once the lawyers have started to draft the finance documents, the list of...
