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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 is a direct agreement?Direct agreements are very common in project finance transactions. A direct agreement is an agreement which gives the...
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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
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
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
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
On an acquisition finance transaction, the borrowing group, in addition to the debt (whether loans or bonds) required to fund the transaction, will...
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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
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 >
9th Nov
Practice notes
Subordination is a way of changing the priority of claims against a debtor so that one creditor or group of creditors (the junior creditor(s)) agree...
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9th Nov
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
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
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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9th Nov
Practice notes
Coronavirus (COVID-19): This Practice Note contains information on subjects potentially impacted by the government and regulators' responses to the...
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9th Nov
Practice notes
Commodity repurchases (repos) are a common alternative method of financing. There are a number of advantages for both the financier and a commercial...
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Produced in partnership with Sullivan 12th Jan
Practice notes
Shares are commonly offered as security for a loan in commercial lending transactions.Practice Note: Taking security over shares explains how to take...
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9th Nov

Most recent Q&As content

Q&As
For the purposes of this Q&A, it is assumed that the relevant contract is a business-to-business contract for the supply of goods and/or services...
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Produced in partnership with Oberon Kwok of Selborne Chambers and Chris Bryden of 4 King’s Bench Walk 16th Apr
Q&As
This Q&A considers the restrictions on ipso facto clauses under section 233B of the Insolvency Act 1986 (IA 1986) and the impact on a supplier’s...
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Produced in partnership with Deanne Hamilton of Harrison Clark Rickerbys Limited 16th Apr
Q&As
Where the proposed security is a legal charge over specific propertyIn general terms, a legal charge can be granted by a borrower by deed executed by...
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Produced in partnership with James Hall of Hardwicke Chambers 16th Apr
Q&As
What is the background to the ISDA SIMM?The financial crisis of 2007 exposed significant weaknesses in the resiliency of banks and other financial...
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15th Apr
Q&As
None, provided the loan agreement is in Loan Market Association (LMA) standard form.The tax gross-up and indemnity clauses (and their accompanying...
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Produced in partnership with Eloise Walker of Pinsent Masons 15th Apr
Q&As
Centre of main interests (COMI)COMI is an important concept under the EU Recast Regulation on Insolvency Proceedings (Regulation (EU) 2015/848)...
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14th Apr
Q&As
Formalities for a deedThe following are the necessary requirements for a deed:•it must be in writing•it must make it clear that it is intended to be a...
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Produced in partnership with Lynne Counsell of 9 Stone Buildings 12th Apr
Q&As
Executing documents properly when one or more parties to a contract are not physically present is sometimes known as virtual signing or virtual...
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9th Apr
Q&As
SummaryA lender would be prudent to insist that representations and undertakings relating to obligors’ centre of main interest (COMI) remain in a...
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9th Apr
Q&As
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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9th Apr
Q&As
This Q&A has been drafted assuming the following:•the question is asked in the light of the ongoing coronavirus (COVID-19) crisis•the statutory...
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Produced in partnership with Phillip Patterson of Hardwicke Chambers 8th Apr
Q&As
Statutory declarations are a necessary part of insolvency proceedings, most commonly where a company enters members’ voluntary liquidation (MVL) (see...
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Produced in partnership with Philip Patterson of Hardwicke Chambers 8th Apr
Q&As
The principle at law is that all creditors will rank equally (or pari passu) unless the parties have agreed otherwise. Practice Note: Order of...
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8th Apr
Q&As
A security trustee will normally be appointed on a syndicated transaction to hold security on behalf of all the lenders from time to time. This avoids...
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8th Apr
Q&As
Limited partnerships—general informationFor information on limited partnerships generally, see Practice Note: The nature of a limited partnership and...
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8th Apr
Q&As
Guarantees are a contractual arrangement where one party (the guarantor) agrees to answer for the liability of another party (the principal or...
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Produced in partnership with Tom Stewart Coats of XXIV Old Buildings 8th Apr
Q&As
When a limitation period starts to run, and for how long, in the case of a claim under a guarantee, will depend on how the guarantee is executed and...
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8th Apr

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