Conditions precedent to lending

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Practice notes
In summary, a market disruption clause sets out how interest is calculated for a loan if a lender’s cost of funding the loan is in excess of London...
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9th Nov
Practice notes
Given the cross-border nature of many banking transactions, it is common for the principal legal advisors for lenders and borrowers to need to...
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9th Nov
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
This Practice Note considers the costs that a lender operating in the interbank market will incur when providing funding to a borrower and the steps...
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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
The key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the charged assets in the normal course of...
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9th Nov
Practice notes
What is a 'capital call facility'?A capital call facility is a form of finance provided by a lender to a fund and typically secured against investors’...
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Produced in partnership with Peter Olds of Cleary, Gottlieb, Steen & Hamilton 12th Jan
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 considers:•the purpose of events of default included in facility agreements•common events of default relating to borrowers and...
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9th Nov
Practice notes
This Practice Note covers the typical structure of facility agreements and the key terms and provisions that will be included. It examines the process...
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9th Nov
Practice notes
The vast majority of derivative transactions are documented by standard documentation developed and published by the International Swaps and...
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9th Nov
Practice notes
There are four main types of security available under English law: •mortgage•charge•pledge, and•lienThis Practice Note explains:•the nature of a...
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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
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

Most recent Conditions precedent to lending content

Practice notes
There are two forms of general meetings under the Companies Act 2006 (CA 2006): general meetings and annual general meetings (AGMs). A general meeting...
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27th Apr
Practice notes
Unlike company general meetings and annual general meetings (AGMs), there are no specific provisions in the Companies Act 2006 (CA 2006) regulating...
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27th Apr
Practice notes
There are two forms of general meetings under the Companies Act 2006 (CA 2006): general meetings and annual general meetings (AGMs). A general meeting...
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27th Apr
Precedents
[insert date]To:[insert full name and address of lender]Dear [insert full name of lender]I am a director and the [Chief Financial Officer OR Finance...
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26th Apr
Precedents
[insert date]To:[insert full name and address of lender]Dear [insert full name of lender]I am a director and the [Chief Financial Officer OR Finance...
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26th Apr
Precedents
COMPANY NUMBER: [insert company number][insert company name] [LIMITED OR PLC]Minutes of a meeting of the board of directors (the Meeting) of [insert...
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20th Apr
Precedents
[To be printed on the headed paper of the lender’s lawyers]To:[insert name and address of Lender][insert date]Dear [insert name of Lender][Matter...
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14th Apr
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...
Read More >
14th Apr
Practice notes
Each of the documentary conditions precedent (CPs) to funding must be satisfied (or waived) before funding can take place. For more information on the...
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8th Apr
Practice notes
In financing transactions, conditions precedent (known as CPs) are the specific conditions that need to be fulfilled for funding to occur. They are...
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8th Apr
Practice notes
In financing transactions, conditions precedent are the conditions that need to be fulfilled for funding to occur.This Practice Note explains:•the...
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8th Apr
Practice notes
Legal opinions are one of the key documentary conditions precedent in loan transactions. The legal opinion is a letter which sets out opinions as to...
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8th Apr
Practice notes
Given the cross-border nature of many banking transactions, it is common for the principal legal advisors for lenders and borrowers to need to...
Read More >
8th Apr
Practice notes
Legal opinions are used in the vast majority of financing transactions. They are usually either a condition precedent to funding or a condition...
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8th Apr
Q&As
This Q&A explains when it is necessary to analyse whether an obligor in a banking transaction is receiving a commercial benefit (also called a...
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Produced in partnership with Brian Cain 8th Apr
Q&As
A process agent is a person or entity that is appointed to receive, accept and acknowledge service of process on behalf of another party.A party to an...
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8th Apr
Precedents
AuthorisationsDescription of condition precedent (including paragraph number in Schedule [1] of the Facility Agreement)ResponsibilityStatusSatisfied?A...
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8th Apr
Precedents
[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...
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8th Apr
Precedents
[insert date]To:[insert full name and address of lender]Dear [insert full name of lender]I am a director of [insert full name of borrower] (the...
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8th Apr
Precedents
[insert date]To:[insert full name and address of lender]Dear [insert full name of lender]I am a director of [insert full name of guarantor or third...
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8th Apr

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