Comfort letters

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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
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 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
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
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
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
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
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
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
A 10b-5 letter (also referred to as a 'disclosure letter') is a letter delivered to the underwriters by issuer's and underwriters' counsel in...
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Produced in partnership with Charles Farnsworth of Baker McKenzie and Adam Farlow of Baker McKenzie 12th Jan
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
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
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
What is a borrowing base facility?Borrowing base facilities ('BB Facilities') are a type of trade finance. They are working capital credit facilities...
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Produced in partnership with Dentons UK and Middle East LLP 12th Jan
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

Most recent Comfort letters content

Precedents
[On headed notepaper of comfort letter provider]To: [insert the full name and address of the lender][insert date]Dear [insert full name of...
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28th Nov
Precedents
[On headed notepaper of comfort letter provider]To: [insert the full name and address of the lender][insert date]Dear [insert full name of...
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28th Nov
Q&As
In short, no, a comfort letter is not the same as a properly drafted guarantee.Comfort letters are sometimes given as 'alternatives' to guarantees or...
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28th Nov
Practice notes
Comfort letters are encountered in finance transactions relatively often. They take different forms and it is important from both the lender's...
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25th Nov

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