Set-off and netting

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Precedents
[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower]Dear [insert full name of borrower]1We refer to...
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19th May
Practice notes
European PIK loan facilitiesThis Practice Note provides information on European PIK loan facilities (PIK facilities). It discusses:•the key features...
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Produced in partnership with Susan Whitehead, Consultant at Hogan Lovells and Penny Angell, Partner at Hogan Lovells 19th May
Practice notes
Introduction to fund finance—capital call facilitiesThis Practice Note discusses:•what is meant by capital call facilities, NAV, or asset backed...
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Produced in partnership with Leon Stephenson of Reed Smith 19th May
Practice notes
Increased costsThis Practice Note considers the costs that a lender will incur when providing funding to a borrower and the steps that it will take...
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19th May
Practice notes
Perfecting securityIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into...
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19th May
Practice notes
Synthetic securitisationsWhat is a securitisation?Securitisation is a technique used to finance the ownership or sale of types of assets that would...
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19th May
Practice notes
Bilateral, syndicated and club arrangementsOne of the features used to categorise loans is the number of lenders involved. A loan involving one lender...
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19th May
Practice notes
Pre-export finance—key terms in the facility agreementPre-export finance (PXF) is an established structure used to provide finance to producers of...
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Produced in partnership with Dentons 19th May
Practice notes
Derivatives—ISDA documentation frameworkThe International Swaps and Derivatives Association, Inc. (ISDA) is an association for participants in the...
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19th May
Practice notes
The facility agentThis Practice Note covers the duties and role of the facility agent (defined in the Loan Market Association (LMA) documentation as...
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19th May
Precedents
This Deed of guarantee and indemnity is made on [insert day and month] 20[insert year]Parties1[Insert name of Guarantor], a company incorporated in...
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19th May
Practice notes
Transferring a loan by equitable assignmentAssignment is a means by which a lender can transfer its interest in a loan to another lender.For an...
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19th May
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...
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19th May
Practice notes
Loan Market Association (LMA)—news on documentation [Archived]This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA...
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19th May
Practice notes
Crystallisation of floating chargesThe key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the...
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19th May
Precedents
[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower]Dear [insert name of borrower],We are pleased to...
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19th May

Most recent Set-off and netting content

Practice notes
Types of set-offThere are five main types of set-off:•independent set-off (sometimes known as legal set-off or statutory set-off)•transaction set-off...
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20th Sep
Practice notes
What is set-off and when is it available?Set-off is a complex yet important concept in legal proceedings generally and for many different types of...
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20th Sep
Practice notes
Independent set-off and transaction set-offAlthough it commonly arises in the context of disputes, and therefore litigation, set-off is essentially a...
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20th Sep
Practice notes
Contractual set-offContractual set-off is one of the five main types of set-off described in Practice Note: Types of set-off.Contractual set-off...
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20th Sep
Q&As
Can a lender set off an unmatured liability of its borrower against a credit balance on the borrower’s deposit account?This Q&A discusses the rights...
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Produced in partnership with Brian Cain 15th Sep
Practice notes
Financial derivatives—nettingNettingNetting is a contractual arrangement between two parties. Essentially, it means that the parties have agreed that,...
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4th Sep
Practice notes
Insolvency set-off—the position under the Insolvency (England and Wales) Rules 2016IntroductionSet-off refers to claims that may be set-off against...
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Produced in partnership with South Square Chambers and BDO 18th Aug
Precedents
Deed of set-off: for use with a bilateral facility agreement—single company borrowerThis Deed is made on [insert day and month] 20[insert...
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10th Aug
Practice notes
Set-off in finance transactionsFor information on set-off in general, see Practice Note: What is set-off and when is it available?When is set-off...
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10th Aug
Practice notes
Set-off—key casesThis Practice Note sets out certain key cases and associated relevant content in relation to set-off. The cases are divided by topic...
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10th Aug
Practice notes
NettingIn finance transactions, the terms 'netting' and 'set-off' are sometimes used interchangeably even though they are not the same thing. The...
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10th Aug
Q&As
Can equitable set-off apply to a situation where set off has been excluded expressly by terms of a contract between the parties?Equitable...
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10th Aug
Q&As
Why are set-off clauses included in finance documents?Parties’ rights are often defined, restricted or excluded by a specific contractual clauses...
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Produced in partnership with Thomas Samuels of Gough Square Chambers 10th Aug
Q&As
If a limited liability partnership goes into administration, can a partner set-off a capital account (in credit) against amounts outstanding on an...
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1st Aug
Q&As
What is the banker’s right of set-off?The banker’s right of set-off refers to the right of a bank to combine two or more of a customer’s accounts held...
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Produced in partnership with Richard Hanke of 3 Verulam Buildings (3VB) 31st Jul
Precedents
1 Set-off permitted by either party Each party may set off any amount that the other party owes it under this agreement[ or...
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26th Sep

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