The facility agreement

The facility agreement guidance:

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...

Practice Note

This Practice Note explains certain common financial covenants used in commercial finance transactions including: • minimum net worth test • gearing ratio • leverage...

Practice Note

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...

Practice Note

Overview Covenant 'loose' and covenant 'lite' facilities provoke much debate in the leveraged finance market since they are perceived to indicate that debt markets are...

Practice Note

[To be printed on headed notepaper of the lender making demand] To: [Insert name of individual and/or position] [insert name of the Borrower or other relevant entity]...

Precedents

This Practice Note covers the typical structure of facility agreements and the key terms and provisions that will be included. It examines the process of preparing the...

Practice Note

This Practice Note offers general guidance on how to approach document drafting and explains the meaning of some common expressions used in legal documents. It also looks...

Practice Note

[To be printed on the headed notepaper of the borrower] [insert date] To: [insert name of lender] (the Lender) From: [insert name of borrower] (the Borrower) Dear [insert...

Precedents

This Practice Note considers: • the purpose of events of default included in facility agreements • common events of default relating to borrowers and guarantors •...

Practice Note

This Agreement dated [•] 20[•] is made Parties 1 [insert name of Borrower], a company incorporated in England and Wales with registered number [insert company number]...

Precedents

[TO BE PRINTED ON THE HEADED PAPER OF THE LENDER] [insert name and address of borrower] [insert date] Dear [insert full name of borrower] We offer to place at your...

Precedents

In times of financial crisis, it is not just borrowers who are under financial pressure. Finance parties (eg lenders, facility agents and security agents) are also at...

Practice Note

In times of financial crisis, it is not just borrowers who are under financial pressure; lenders are also at risk of getting into financial difficulty. Facility documents...

Practice Note

Where appropriate, this Practice Note highlights relevant provisions in Lexis®PSL Precedent Facility agreement (term loan): single company borrower—bilateral—with or...

Practice Note

Click here to download the latest Anti-Money Laundering 2019 report, published by Getting the Deal Through. Jurisdictions covered The following jurisdictions are covered...

Practice Note

Click here to download the latest Loans & Secured Financing 2020 report, published by Getting the Deal Through. Jurisdictions covered The following jurisdictions are...

Practice Note

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 treated by the EU as a...

Practice Note

1 Guarantee and indemnity 1.1 Guarantee and indemnity The Parent irrevocably and unconditionally: 1.1.1 guarantees to the Lender the performance of the [payment]...

Precedents

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 treated by the EU as a...

Practice Note

This Practice Note explains the Loan Market Association (LMA)’s approach to the calculation of interest in its facility documentation. It explains the calculation of...

Practice Note

One way for banks and other financial institutions to generate revenue is by charging interest on the loans they make. For a bank or financial institution to make money...

Practice Note

This Agreement is made on [insert day and month] 20[insert year] Parties 1 [insert name of party] [of OR a company incorporated in [England and Wales] under number...

Precedents

Introduction In response to initiatives of European governments to introduce a Pan-European Private Placement (PEPP) market, the Loan Market Association (LMA) has...

Practice Note

Financial covenants are used on a wide range of different kinds of banking transactions to monitor and test the financial performance of the borrowing company or group....

Practice Note

This Practice Note provides: • information on the background to the transition away from London Interbank Offered Rate (LIBOR) and other Interbank Offered Rates (IBORs)...

Practice Note

Development of the Loan Market Association (LMA) documentation The project to develop the LMA investment grade documents began in 1998 as a response to demand in the...

Practice Note

Development of the Loan Market Association (LMA) documentation The project to develop the LMA primary documents began in 1998 as a response to demand in the market for a...

Practice Note

Where are MAC clauses used in facility agreements? There are three key places where the concept of material adverse change (MAC) or material adverse effect (MAE) occurs...

Practice Note

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 Interbank Offered Rate...

Practice Note

The concepts of material adverse change (MAC) and material adverse effect (MAE) are used in different but related ways in a typical facility agreement. • Material adverse...

Practice Note
Trending Topics
In-House COVID-19