Conditions precedent on acquisition finance transactions—document table
Conditions precedent on acquisition finance transactions—document table

The following Banking & Finance practice note provides comprehensive and up to date legal information covering:

  • Conditions precedent on acquisition finance transactions—document table

The table below summarises the conditions precedent typically requested by senior lenders on an acquisition finance transaction, together with the party responsible for drafting/providing them and other relevant information.

There will normally be a large number of conditions precedent documents including:

  1. corporate authorisations

  2. acquisition documents

  3. equity investment documents

  4. finance documents (including facilities agreements and security documents)

  5. legal opinions

  6. due diligence reports and other information, and

  7. documents relating to the structure and flow of funds

The conditions precedent will be contained in a schedule to the facilities agreement.

Some conditions precedent will need to be delivered prior to signing and some prior to first utilisation (see Conditions precedent on acquisition finance transactions—general considerations).

For an introductory guide to acquisition finance, see Practice Note: Acquisition finance—introductory guide and for a glossary of common terms, see Glossary of acquisition finance terms and jargon.

For more detailed information on conditions precedent, see: Conditions precedent (CPs): Tom Speechley: Acquisition Finance.

CategoryDocumentParty/parties responsible for drafting/ providingOther information
Corporate documentsThe corporate documents will normally be conditions precedent to signing. Many of them will also need to be provided for each group company that later accedes as a borrower or guarantor.
Constitutional documents of the borrowers and guarantors (the obligors)Normally provided by the sponsor's lawyers to the lenders' lawyers. Certified as true and correct by the director's

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