The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
Legal opinions are used in the vast majority of financing transactions. They are usually either a condition precedent to funding or a condition precedent to the signing of the finance documentation. They provide the addressee of the legal opinion with information on the legal risks involved in a transaction. Although they are seen across many different types of financing transactions, they can be tricky to deal with from both a legal and practical perspective and, as such, should be discussed and agreed as soon as possible in the transaction process.
This Practice Note explains:
what legal opinions are
when they are used
who can rely on them
what they cover
how legal opinions are used in cross-border transactions, and
the structure of a typical opinion letter
For more information, see Practice Notes:
Instructing and managing local counsel, and
Drafting or reviewing legal opinions in loan transactions
For an example of an English law legal opinion, see Precedent: Legal opinion letter: English borrower entering into an unsecured bilateral facility agreement.
A legal opinion is a letter which sets out opinions as to matters of law. It does not cover factual matters. The letter will be made up of the legal opinions themselves, along with a set of assumptions and qualifications which usually make up the majority of the letter.
The City of London Law
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This Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice Note:•explains the purpose of having an intercreditor agreement and when an intercreditor agreement would be used instead of a deed of priority or subordination deed•provides links to
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
Facilitating the performance of a duty by public officialsFacilitation payments, also known as facilitating or grease payments, are generally small amounts of money paid to public officials or others as a means of ensuring that they perform their duty, whether more promptly or at all. In some
BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this Practice Note. For further guidance on
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