Case studies

"What I spend on my yearly subscription, equals to a day's billable hours for me not to mention time efficiency and peace of mind."

Jai Stern

Access all 75 documents on Syndicate

GET ACCESS NOW

GLOSSARY

Syndicate definition

Published by a LexisNexis Banking & Finance expert

What does Syndicate mean?

1. The group of lenders participating in a syndicated loan facility.

2. A collection of investors pooling resources to conduct business.

Banking & Finance

1. The group of lenders participating in a syndicated loan facility. 2. A collection of investors pooling resources to conduct business.

Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business–all whilst saving time and reducing risk.

Articles (non-leveraged investment)—checklist

Articles (non-leveraged investment)—checklist Objects Is it necessary or appropriate for the company to restrict its objects? If the company was incorporated before 1 October 2009, check if any of the objects stated in its memorandum of association need deleting (by way of a members’ special resolution). Application of model articles Determine if the model articles are to apply to the company. If the company was incorporated before 1 October 2009, consider whether Table A should still apply (if not previously amended). Determine what, if any, of the model articles should not apply to the company. Board of directors How many directors will be on the board? Which of the founders will be directors? How many directors will the investor have the right to appoint to the board? What is the quorum for board meetings? Does the chair (or another director) have a second or casting vote? Are fees payable to the investor directors and/or chair? If so, what are they? Set out administrative matters relating to the board (eg frequency...

Issuing high yield bonds—documents list

Issuing high yield bonds—documents list The documents listed below provide an overview of the core transaction documents typically used to document a high yield bond issuance. The description for each provides an explanation of the document's purpose and the parties which typically enter into them. Additional documents may be required to deal with aspects of a specific transaction (such as escrow arrangements) or to reflect bespoke arrangements. Document Description 144A Global Note A single note signed by the issuer which represents the entire amount of debt in relation to the Rule 144A issuance.Section 5 of the US Securities Act 1933 requires all offers and sales of securities in the US to be registered with the Securities and Exchange Commission (SEC) unless an exemption applies. Rule 144A is a safe harbour exemption from the section 5 requirement and it enables the initial purchasers of the bonds (see Purchase Agreement below) to resell the bonds to 'qualified institutional buyers', institutional investors who meet certain criteria.For more information on Rule 144A,...

Discover our 2 Checklists on Syndicate

Key features of syndicated facilities

The difference between bilateral and syndicated loansA bilateral loan involves a borrower (and sometimes other companies in the borrower's group as guarantors and/or security providers) and a single lender.Where a single lender is unwilling or unable to advance the full amount required by the borrower, the borrower may look to two or more lenders for a loan to meet its needs. In a syndicated transaction, two or more lenders agree to make loans to a borrower on common terms which are set out in a single facility agreement entered into by all of the parties.Types of syndicationThere are three main types of syndicated loan:•underwritten deals where the arrangers guarantee to lend the entire commitment and subsequently look to syndicate the loan. If the loan is not fully subscribed, the underwriters will have to lend the rest of the money themselves•best-effort deals are not underwritten by the arrangers but they simply undertake to do their best to find other lenders to provide the total commitment. The borrower therefore does risk not...

Finance party default—lenders

Finance party default—lenders It isn’t only borrowers that can get into financial difficulties. Failure by a lender to meet its lending commitments under a loan agreement could have severe implications for the borrower, who may not be able to meet its own financial commitments. It is also likely to have knock on effects for other lenders who may find the borrower’s ability to make repayments is impacted. The Loan Market Association’s (LMA) recommended form of senior multicurrency term and revolving facilities agreement (compounded rate/term rate) for leveraged acquisition finance transactions (LMA leveraged facilities agreement), and the other LMA leveraged finance facilities agreements, contain provisions to help counteract some of the potential problems that may arise on syndicated facilities in the event that a finance party is at risk of not meeting its obligations. While the LMA recommended forms of investment grade documentation do not include the provisions, parties may decide to include them in other syndicated facility agreements. The standard form documentation is available to LMA members on the...

Discover our 47 Practice Notes on Syndicate

Funder definition (construction contract)

Funder definition

NEC4 PSC—Form of Agreement and Z clauses

NEC4 PSC—Form of Agreement and Z clauses Agreement in relation to [insert brief details of the works/project] at [insert address of works] (Incorporating (inter alia) the NEC4 Professional Services Contract 2017 with January 2019 Amendments, October 2020 Amendments and January 2023 Amendments as modified and supplemented in the manner indicated in this Agreement and the Schedules hereto). This Agreement is made on the [insert number] day of [insert month] 20[insert year]. Parties 1 [insert name of the Client] (company registration number [insert number]) whose registered office is situated at [insert address of the Client] (‘the Client’), 2 [insert name of the Consultant] (company registration number [insert number]) whose registered office is situated at [insert address of the Consultant] (‘the Consultant’) Background (A) The Client wishes for certain works, namely [insert brief details of the works/project] as more particularly described in this contract, to be executed. (B) The Client wishes to appoint the Consultant and the Consultant has agreed to be appointed in accordance...

Dive into our 19 Precedents related to Syndicate

Picturehouse wins insurance fee battle with landlord

Law360, London: A London court has ordered the owner of a property in Piccadilly Circus to repay more than £640,000 it overcharged tenant Picturehouse Cinemas by loading insurance premiums for the premises with top-end broker commissions for the landlord to pocket.

Permission to appeal and costs (Tyson v GIC)

Arbitration analysis: The underlying proceedings concern an application by the claimant (‘TICL’) for an interim anti-suit injunction (‘ASI’) against the defendant (‘GIC’). GIC applied for a stay pursuant to section 9 of the Arbitration Act 1996 (the AA 1996). Eventually, TICL was granted anti-suit relief, made final on 21 January 2025. Permission to appeal was sought by GIC, and refused by Nigel Cooper KC, sitting as a High Court Judge. What is particularly interesting about this case is how permission to appeal was refused notwithstanding that a prior judge (Mr Houseman KC) had given permission on the same point in related proceedings (and indeed the defendant in that case was granted a stay), and another judge (Mr Hancock KC) held that an appeal on the same grounds had a ‘real prospect of success’. Ultimately, permission to appeal which was sought on two grounds was refused. Costs fell in the usual way in TICL’s favour, being the overall winner, but this decision is notable for the judge taking a ‘cautious’ approach...

Read the latest 9 News articles on Syndicate