Creditors’ committee agreement
Creditors’ committee agreement

The following Restructuring & Insolvency guidance note provides comprehensive and up to date legal information covering:

  • Creditors’ committee agreement
  • Parties
  • Recitals
  • Schedule 1 The committee members (plus addresses/contact names for notices)
  • Schedule 2 Finance documents and security
  • Schedule 3Deed of adherence

This Agreement is made [insert day and month] 20[insert year]

Parties

  1. 1

    [insert name of lender] a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at [insert address];

  1. 2

    [insert name of lender] a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at [insert address];

  1. 3

    [insert name of lender] a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at [insert address];

  2. (each a Committee Member and together the Committee Members) whose contact details are set out in Schedule 1; and

  1. 4

    [insert name of the debtor company] a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at [insert address] (the Company).

Recitals

    1. (A)

      The Company is negotiating with it's Lenders to agree a restructuring of its [business and] debt.

    2. (B)

    3. The Company[is seeking to negotiate OR has negotiated] a [Standstill Agreement and]Restructuring Agreement with certain Lenders.

    4. (C)

    5. The Committee Members have agreed to form a Creditor's Committee [at the request of the Company].

    6. (D)

      [insert name of chair] has agreed to