The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
It is common for the parties to a facility agreement to want to amend its terms, often a number of times, during the life of the facilities. They may, for example, wish to extend the repayment date or increase amounts available to allow the borrower to fund another project or purchase. The lender may use an increase to the facilities to make other changes to the documentation such as an increase to the interest rate or additional undertakings. Such changes may be documented by an amendment letter, an amendment and restatement agreement or sometimes by the issuance of a new facility letter or agreement aimed at replacing the previous one. For information on how to amend a facility agreement, see Practice Note: Amending a facility agreement.
Where the lender is to have the benefit of guarantees or Third party security (which is effectively a guarantee backed by security and so this Practice Note applies to third-party security as well as unsecured guarantees), it will want to ensure that it continues to have the benefit of its guarantees if the terms of the underlying transaction change. For this reason, a key consideration while drafting the guarantee will be to ensure that it will not be discharged by amendments which the parties may want to make over the life of the facilities and that the guarantee will
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When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction
The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
This Practice Note considers the doctrine of forum non conveniens, also referred to as the appropriate forum or the proper place for a dispute to be determined. This doctrine is of relevance when determining whether the courts of England and Wales have jurisdiction to hear a dispute and is applied
This Practice Note provides a high-level introduction to diversity and inclusion (D&I) and key reasons why it is important to law firms. Specific aspects of D&I are covered in more detail in Practice Notes:•The growing focus on diversity and inclusion (D&I) in law firms•Unconscious bias—law
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