Amendments, waivers and consents

This overview is a guide to the Banking & Finance content within the Amendments, waivers and consents subtopic, with links to appropriate materials.

During the term of a facility, the borrower's financial position is likely to fluctuate or its business plans change. This may cause the borrower to want to revisit the terms of the finance documents. In some cases the borrower might want a permanent change to the terms of the finance documents. In others, the borrower will only need a temporary variation or a consent to do something prohibited by the finance documents.

What is the difference between amendments, waivers and consents?

At a basic level, any variation from the terms of a facility agreement will need an amendment, waiver or consent by the lender(s).

Waivers and amendments will both need lender consent. This is likely to be a straightforward process on a bilateral facility agreement, but more complex on a syndicated transaction. Syndicated facility agreements based on Loan Market Association (LMA) documentation, envisage variations to any finance document to constitute either an amendment or waiver.

Separately, certain facility agreements are drafted so as to permit

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

TAKE A FREE TRIAL

Latest Banking & Finance News

EBF supports efforts to simplify sustainability disclosures for capital markets

The European Banking Federation (EBF) has published a position paper on the European Commission’s proposed revision of Regulation (EU) 2019/2088 (Sustainable Finance Disclosure Regulation (SFDR)), stating that it supports the Commission’s aim of simplifying sustainability disclosures and making them more accessible for investors and financial market participants. The EBF welcomes the introduction of three clearer product categories and the proposal’s emphasis on information that is more meaningful for retail investors. It also supports the removal of portfolio management services from the SFDR’s scope, while calling for targeted amendments to ensure coherent implementation, proportionality and legal certainty across related EU legislation.

IFRS Foundation adds Jurisdictional Readiness Assessment guide and tool to ISSB adoption toolkit

The International Financial Reporting Standards (IFRS) Foundation has published a Jurisdictional Readiness Assessment guide and accompanying tool to support jurisdictions in evaluating market preparedness for the adoption of International Sustainability Standards Board (ISSB) Standards. The guide provides a structured, evidence-based methodology for reviewing reporting ecosystems, entities and support systems to inform decisions on the pace, scope and sequencing of regulatory implementation. It includes practical examples drawn from nearly 40 jurisdictions that have taken steps towards adopting ISSB Standards, with requirements already in force in 19 jurisdictions. The new materials form part of the IFRS Foundation's Regulatory Implementation Programme toolkit.

ISDA publishes market practice note on European inflation indices rebasing

The International Swaps and Derivatives Association (ISDA) has published a market practice note addressing the rebasing of five European inflation indices. The note covers consumer price indices for France, the eurozone, Italy, Sweden and Spain; which includes tobacco-excluding variants as well as indices for specific worker categories. The guidance aims to provide market participants with standardised practices for managing the rebasing of these inflation benchmarks in derivatives transactions.

WFE publishes practical guide on accessing transition finance for issuers

The World Federation of Exchanges (WFE) has published a guide offering practical direction for issuers seeking access to transition finance. Titled 'Accessing Transition Finance: A Practical Guide for Issuers', the document outlines the various forms of transition finance available and provides guidance on maximising eligibility for different financing types. The guide highlights that current transition finance vehicles primarily focus on debt offerings, although it anticipates the emergence of transition-related equity offerings. Additionally, the WFE has scheduled a webinar for 9 March 2026 to introduce and discuss the guide.

View Banking & Finance by content type :

News