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Practice notes
Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus on execution of documents and company filing and...
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15th Oct
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 Oct
Practice notes
Guarantees (see Practice Note: Guarantees) and third party security (see Practice Note: Third party security) from individuals are relatively common...
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29th Sep
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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26th Sep
Practice notes
Debentures are used in many types of financing where it is desirable to take security over all of the assets of a particular entity. They are a form...
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26th Sep
Practice notes
Set-off is a complex yet important concept in legal proceedings generally and for many different types of transaction.Independent set-off and...
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26th Sep
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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26th Sep
Practice notes
Land (or real property) is commonly offered as security for a loan. In this context, land has more relevance than some other assets because it can be...
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26th Sep
Practice notes
Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus (COVID-19) on execution of documents and company...
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26th Sep
Practice notes
This Practice Note sets out certain key cases and associated relevant content in relation to guarantees. The cases are divided by topic area and...
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25th Sep
Practice notes
What is a debenture?In the context of secured lending, the term 'debenture' means a form of security agreement that grants security interests over a...
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25th Sep
Practice notes
Contractual rights are a type of chose in action, ie something that is recoverable by legal action as opposed to something that is physically...
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25th Sep
Practice notes
In commercial lending transactions receivables are typically offered as security:•as part of a package of security over the whole of a company's...
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25th Sep
Practice notes
A lender's primary concern is that it is repaid. Even if a lender obtains a judgment for payment of the sum owed to it by its borrower, this does not...
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25th Sep
Practice notes
There are five main types of set-off:•independent set-off (sometimes known as legal set-off or statutory set-off)•transaction set-off (also known as...
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25th Sep
Practice notes
Guarantees are typically used in banking transactions as a form of collateral for a debt. In such circumstances, they are a contractual arrangement...
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25th Sep

Most recent Q&As content

Q&As
Can I terminate a fixed term commercial contract early?We have a contract with another organisation, which is for a fixed term. However, we would like...
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28th Sep
Q&As
Generally, the limitation period for bringing a claim for breach of contract is six years from the date of breach of a ‘simple contract’ (section 5 of...
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28th Sep
Q&As
Is there a force majeure event?In English law, the expression ‘force majeure’ does not refer to a legal doctrine. Instead, the expression ‘force...
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28th Sep
Q&As
Late registration of the chargeIf a company or an LLP creates a charge to which the Companies Act 2006, s 859A (CA 2006) applies and the documents...
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28th Sep
Q&As
There are serious consequences for failing to register a charge at Companies House in time, however, there are options to correct the situation. While...
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28th Sep
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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28th Sep
Q&As
For the purposes of this Q&A, we have assumed there is a provision stating that an agreement may be executed in counterparts and that each signed...
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28th Sep
Q&As
What is a negative pledge?A negative pledge is a contractual undertaking which prohibits or restricts the party granting the undertaking from creating...
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28th Sep
Q&As
Can Precedent: Loan note instrument—sellers be used for the issue of loan notes by an AIM listed company?Precedent: Loan note...
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28th Sep
Q&As
To what extent can the terms best endeavours and reasonable endeavours be enforced?In general contractual obligations can be absolute or qualified....
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28th Sep
Q&As
Applying to the court to extend the time for registering the chargeIf a charge is not registered in time the chargor or any person interested in the...
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28th Sep
Q&As
The EU Bank Recovery and Resolution Directive 2014/59/EU (BRRD) gives the Bank of England (in certain circumstances, and in its capacity as UK...
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28th Sep
Q&As
SummaryAn ELP has no separate legal personality and this gives rise to a number of complexities that affect the structure of a lending transaction and...
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28th Sep
Q&As
What is the doctrine of frustration?If the contract does not include a force majeure clause or it does but the applicable force majeure event is not...
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28th Sep
Q&As
This Q&A covers the situation where a contract has been concluded:•between two companies registered in England and Wales both acting in the course of...
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28th Sep
Q&As
It would be prudent to begin by looking at the master agreement itself to see which governing law/jurisdiction applies to the International Swaps and...
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28th Sep
Q&As
This Q&A considers the differences between a standby letter of credit (SBLC) and an ordinary letter of credit (CLC), sometimes also referred to as a...
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28th Sep
Q&As
Should I agree to take on joint liability under a contract?The not so helpful answer to that question is: it depends. It depends upon the type of...
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28th Sep
Q&As
What is a qualifying guarantee?A qualifying guarantee is an instrument that constitutes a guarantee of a reference entity under the 2014 ISDA Credit...
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28th Sep

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