Amendments, waivers and consents

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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
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
There are times when a lender might want to get back some of the money it has lent to a borrower before the borrower is due to repay it.If the...
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9th Nov
Practice notes
What are they?A bridge to bond facility is a type of acquisition financing where the buyer requires the certainty of a fully committed financing...
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Produced in partnership with Cleary Gottlieb and Ian Chin of Morrison & Foerster 12th Jan
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
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
In many commercial finance transactions, lenders expect to be given some form of credit support to increase their confidence in being able to recover...
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9th Nov
Practice notes
Assignments by way of security can take different forms and it is important to understand how they are created and their effect. Security over choses...
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9th Nov
Practice notes
This Practice Note explains the features of three common types of loan facility:•overdrafts•term loans, and•revolving credit facilities (RCFs)It also...
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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
What are incremental facilities?An incremental facility is feature included in a credit agreement where, subject to meeting certain pre-agreed...
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Produced in partnership with Osborne Clarke 12th Jan
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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9th Nov
Practice notes
This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from...
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9th Nov
Practice notes
IntroductionShari'ah (also Sharia, Shariah or Shari’a) (literally, in Arabic, 'the path towards the watering place') or Islamic law is the legal...
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9th Nov
Practice notes
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge...
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9th Nov

Most recent Amendments, waivers and consents content

Practice notes
Debt waivers, extending maturity and debt reschedulingThis Practice Note covers:•debt rescheduling—extending the amortisation/repayment schedule of...
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15th May
Practice notes
Covenant waivers and resetsOne of the initial signs of distress is usually a covenant breach by the company. The lenders may agree to a simple waiver,...
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15th May
Practice notes
Waiver and consent requestsDuring the term of a facility, a borrower's circumstances can change. Sometimes, a borrower's circumstances change to such...
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15th May
Practice notes
Amending security documentsCoronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus (COVID-19) on...
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15th May
Practice notes
Amending a facility agreementDuring the term of a facility, the borrower's financial position is likely to fluctuate. Sometimes, its circumstances...
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15th May
Practice notes
Guarantees—varying the underlying transaction: practical considerationsIt is common for the parties to a facility agreement to want to amend its...
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15th May
Practice notes
Key issues in transferring securityCoronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus (COVID-19) on...
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15th May
Precedents
This Agreement is made on [date] Parties1[insert name of Borrower], a company incorporated in England and Wales with registered number [insert company...
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5th May
Precedents
[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...
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5th May
Q&As
This Q&A considers the issues that a lender faces if it requests new security for both new and existing loans as a condition to the advance of further...
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8th Apr
Q&As
This Q&A discusses the factors a lender will need to consider if it is asked to waive an event of default under a loan agreement.The following...
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Produced in partnership with Brian Cain 8th Apr
Q&As
There are many reasons why it might be necessary to amend a security document—for example the description of the liabilities secured by the document...
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8th Apr
Q&As
Amendment and waiver requests are an important aspect of managing any facility for lenders.During the life of a facility agreement, the needs of a...
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8th Apr
Precedents
[To be printed on the headed paper of the Guarantor][insert date]To: [insert name and address of the lender]Dear [insert full name of lender]1We refer...
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8th Apr
Q&As
For the purposes of this Q&A, we have assumed that the 'error' which is referred to is agreed by both (or all) parties to the document to be an error,...
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19th Mar
Q&As
A properly drafted finance document will include appropriate execution clauses for each party signing the document. It should, therefore, be obvious...
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19th Mar
Q&As
The first thing you need to do is insert the correct date in the document which has been incorrectly dated. It is important that the date on the...
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19th Mar
Precedents
[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...
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15th Mar

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