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Amendments, waivers and consents

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ECB seeks to assure data protection board over digital euro

ECB seeks to assure data protection board over digital euro

The following Banking & Finance news provides comprehensive and up to date legal information on ECB seeks to assure data protection board over digital euro

Banking and Finance weekly highlights—22 July 2021

Banking and Finance weekly highlights—22 July 2021

The following Banking & Finance news provides comprehensive and up to date legal information on Banking and Finance weekly highlights—22 July 2021

Payment Systems Regulator to prioritise crypto-assets

Payment Systems Regulator to prioritise crypto-assets

The following Banking & Finance news provides comprehensive and up to date legal information on Payment Systems Regulator to prioritise crypto-assets

How UK Binance ban is putting cryptocurrency on notice

How UK Binance ban is putting cryptocurrency on notice

The following Banking & Finance news provides comprehensive and up to date legal information on How UK Binance ban is putting cryptocurrency on notice

Featured Banking & Finance content

Floating charges

Floating charges

Floating chargesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following...

What is set-off and when is it available?

What is set-off and when is it available?

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...

Types of debt securities

Types of debt securities

Types of debt securitiesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into...

Deed of release: for a debenture or mortgage—single company security provider—full or partial release

Deed of release: for a debenture or mortgage—single company security provider—full or partial release

This Deed is made on [insert day and month] 20[insert year]Parties1[insert name of Lender], a company incorporated in England and Wales with...

Practice notes

Subordination

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 agreement

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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19th May
Practice notes

Acquisition finance—ancillary facilities

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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19th May
Practice notes

What are credit derivatives?

What are credit derivatives?IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered...
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19th May
Practice notes

Intercreditor agreement—key provisions

Intercreditor agreement—key provisionsThis Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice...
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19th May
Q&As

A legal charge over property was registered at Companies House. Form MR01 did not say that there was a negative pledge, when there was actually a negative pledge in the document. Form MR01 with the mistake was approved and added to the register at Companies House. The charge was registered correctly with the Land Registry. Does the Companies House error need to be corrected by court order or is the charge enforceable with the error?

A legal charge over property was registered at Companies House. Form MR01 did not say that there was a negative pledge, when there was actually a...
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19th May
Practice notes

An introduction to securities lending transactions and the Global Master Securities Lending Agreement (GMSLA)

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 concepts

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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19th May
Practice notes

Warrants

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 Mortgages

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 facilities

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 facilities

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 arrangements

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 assignment

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

Director’s certificate for a bilateral loan: borrower

[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 transactions

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
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Most recent Amendments, waivers and consents content

Q&As

If a lender makes a loan to a company in a company voluntary arrangement (CVA) which is secured by way of a legal charge, can the lender then rely on the existing CVA as an insolvency event of default in order to enforce the security a few weeks later?

If a lender makes a loan to a company in a company voluntary arrangement (CVA) which is secured by way of a legal charge, can the lender then rely on...
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21st Jul
Q&As

I noticed my client's security document was amended under hand not by deed. Is the amendment effective?

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?

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

Our client has lent under an existing secured facility agreement. The facility amount is being increased under an amended and restated facility agreement—what is the best way to ensure that the increased facility amount is secured?

Our client has lent under an existing secured facility agreement. The facility amount is being increased under an amended and restated facility...
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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?

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?

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?

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
tag iconCOVID-19
Q&As

Can you change the terms of a facility agreement over the phone or by email, or do you need an amendment agreement?

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?

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?

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 rescheduling

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 resets

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

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

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)

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

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

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)

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 guarantee

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 guarantee

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

Popular documents

Rescission of a contract

Rescission of a contract

Rescission of a contractWhat is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual

Multilateral Trading Facilities (MTFs)

Multilateral Trading Facilities (MTFs)

Multilateral Trading Facilities (MTFs)BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and

Contract interpretation—express terms in contracts

Contract interpretation—express terms in contracts

Contract interpretation—express terms in contractsExpress and implied contractual terms distinguishedContractual terms may be either express or implied:•express terms—are terms which are actually recorded in a written contract or openly expressed in an oral contract at the time the contract is made

Involuntary manslaughter

Involuntary manslaughter

Involuntary manslaughterInvoluntary manslaughter—introductionManslaughter can be classified as either voluntary or involuntary. Voluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element—hence the label voluntary manslaughter) but