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Practice notes
Summary of advantages and disadvantages of the floating chargeThis Practice Note discusses the advantages and disadvantages of taking a floating as...
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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
Practice notes
Novation is a means by which a lender can transfer its interest in a loan to another lender.This Practice Note looks at what is meant by novation...
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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
Sub-participation is a means by which a lender can transfer its risk in a loan to another lender. For an overview of the reasons why a lender might...
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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
This Practice Note explains the features of three common types of loan facility:•overdrafts•term loans, and•revolving credit facilities (RCFs)It also...
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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
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
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
Precedents
This Deed is made on [insert day and month] 20[insert year]Parties1[Insert name of Chargor], a company incorporated in England and Wales with...
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9th Nov
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
This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing...
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9th Nov
Practice notes
This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged...
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Produced in partnership with Carlo de Vito Piscicelli of Cleary Gottlieb Steen & Hamilton 12th Jan
Practice notes
IntroductionShari'ah (also Sharia, Shariah or Shari’a) (literally, in Arabic, 'the path towards the watering place') or Islamic law is the legal...
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9th Nov
Practice notes
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge...
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9th Nov

Most recent Q&As content

Q&As
The ability of a chargor to dispose of or otherwise deal with assets in the ordinary course of business is the hallmark of a floating charge. Chargors...
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8th Apr
Q&As
SubrogationThe expression 'subrogation' is a convenient way of describing a transfer of rights from one person to another, without assignment or...
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8th Apr
Q&As
We refer you to Practice Note: Voluntary revocation of guarantees by the guarantor giving notice to the lender, which examines when a guarantor can...
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8th Apr
Q&As
An insolvency process over the debtor will not, on the face of it, affect the creditor's rights against the guarantor. If the debtor does enter into...
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8th Apr
Q&As
Legal chargeA legal charge will need to be registered at the Companies House and HM Land Registry.A legal charge in respect of registered land is a...
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8th Apr
Q&As
As a general rule, it is possible to grant security over receivables as a chose in action. A chose in action is an asset or sum which is recoverable...
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8th Apr
Q&As
Article 55 of the Bank Resolution and Recovery Directive (BRRD)The Bank Recovery and Resolution Directive 2014/59/EU (BRRD) creates a harmonised...
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8th Apr
Q&As
What is a negative pledge?A negative pledge is a contractual undertaking which prohibits or restricts the borrower from creating further encumbrances...
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8th Apr
Q&As
There appears to be no reported case where, in this sort of scenario, the borrower has succeeded in suing the bank (for examples of failed attempts to...
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Produced in partnership with James Hall of Hardwicke Chambers 8th 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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8th Apr
Q&As
This Q&A discusses whether or not a clause in a contract between A and B that prohibits B from assigning the contract (ie a non-assignment clause) is...
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Produced in partnership with Brian Cain 8th Apr
Q&As
Nature of the houseboatThe type of security that may be taken will depend on the nature of the particular houseboat (ie whether it is considered a...
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8th Apr
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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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
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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8th Apr
Q&As
SummaryThe European Commission’s proposal for a Regulation on the law applicable to the third-party effects of assignments (the Proposal) published on...
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Produced in partnership with Brian Cain 8th Apr
Q&As
This Q&A discusses the factors a lender will need to consider if it is asked to waive an event of default under a loan agreement.The following...
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Produced in partnership with Brian Cain 8th Apr
Q&As
This Q&A analyses the general principles that apply in determining whether security created by an English company pursuant to a typical English law...
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Produced in partnership with Brian Cain 8th Apr

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