The same principles apply in determining whether either party to a building contract can avail himself of the remedies of rectification or rescission as apply to all contracts1. If the contract fails to express the common intent of the parties, for example as the result of a clerical error, the court will rectify the contract to conform to that intent
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
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When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
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