Amendments, waivers and consents

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Practice notes
SubordinationSubordination is a way of changing the priority of claims against a debtor so that one creditor or group of creditors (the junior...
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19th May
Practice notes
Drafting and negotiating the facility agreementThis Practice Note covers the typical structure of facility agreements and the key terms and provisions...
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Practice notes
Acquisition finance—ancillary facilities On an acquisition finance transaction, the borrowing group, in addition to the debt (whether loans or bonds)...
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Practice notes
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Practice notes
Intercreditor agreement—key provisionsThis Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice...
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Practice notes
An introduction to securities lending transactions and the Global Master Securities Lending Agreement (GMSLA)Coronavirus (COVID-19): This Practice...
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Produced in partnership with Joseph Wren of Travers Smith and Jonathan Gilmour of Travers Smith 19th May
Practice notes
OTC and exchange traded derivatives—key features and conceptsIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...
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Practice notes
WarrantsIP 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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19th May
Practice notes
Perfecting security over aircraft and registering security on the UK Register of Aircraft MortgagesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020...
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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
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
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
[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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19th May
Practice notes
Direct agreements in project finance transactionsWhat is a direct agreement?Direct agreements are very common in project finance transactions. A...
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19th May

Most recent Amendments, waivers and consents content

Q&As
I noticed my client's security document was amended under hand not by deed. Is the amendment effective?There are many reasons why it might be...
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5th Jun
Q&As
My finance document has been executed, but one of the required signatories has signed in the wrong place. What should I do?A properly drafted finance...
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5th Jun
Q&As
Can a lender take security covering existing loans made as the price for making further funds available to a financially troubled company?This Q&A...
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5th Jun
Q&As
What factors should a lender consider if it is asked to waive a default under a loan agreement?This Q&A discusses the factors a lender will need to...
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Produced in partnership with Brian Cain 5th Jun
Q&As
What risks should lenders consider when granting unconditional amendments and waivers?Amendment and waiver requests are an important aspect of...
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5th Jun
Q&As
Can you change the terms of a facility agreement over the phone or by email, or do you need an amendment agreement?STOP PRESS: On 16 May 2018 in the...
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Produced in partnership with Albert Sampson 5th Jun
Q&As
I've just noticed that an executed document has the wrong date on it. What should I do?The first thing you need to do is insert the correct date in...
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5th Jun
Q&As
I've just noticed that a transaction document which has already been executed contains an error. What can I do to correct this?For the purposes of...
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5th Jun
Practice notes
Debt waivers, extending maturity and debt reschedulingThis Practice Note covers:•debt rescheduling—extending the amortisation/repayment schedule of...
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5th Jun
Practice notes
Covenant waivers and resetsOne of the initial signs of distress is usually a covenant breach by the company. The lenders may agree to a simple waiver,...
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5th Jun
Precedents
Reservation of rights letter: breach of bilateral facility agreement[To be printed on the headed paper of the lender][insert date]To:[insert name and...
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5th Jun
Precedents
Letter confirming effective date of amendments to a bilateral facility agreement[To be printed on the headed paper of the lender][insert...
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5th Jun
Precedents
Confirmation of guarantee on variation of underlying facility agreement (bilateral)[To be printed on the headed paper of the Guarantor][insert...
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5th Jun
Precedents
Amendment agreement (letter format): for a bilateral facility agreement with or without security or a guarantee[To be printed on the headed paper of...
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5th Jun
Precedents
Waiver letter: for a bilateral facility agreement—waiving breach of facility agreement[To be printed on the headed paper of the lender][insert...
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5th Jun
Precedents
Deed of confirmation of third party security on variation of underlying facility agreement (bilateral)This Deed is made on [date]Parties1[insert name...
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5th Jun
Precedents
Amendment and restatement agreement: for an unsecured bilateral facility agreement with or without a guaranteeThis Agreement is made on [date]...
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5th Jun
Precedents
Amendment agreement (agreement format): for a bilateral facility agreement with or without security or a guaranteeThis Agreement is made on [insert...
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5th Jun

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