Form of Contractor Direct Agreement in favour of a lender (for use on infrastructure and energy projects)
Form of Contractor Direct Agreement in favour of a lender (for use on infrastructure and energy projects)

The following Construction precedent provides comprehensive and up to date legal information covering:

  • Form of Contractor Direct Agreement in favour of a lender (for use on infrastructure and energy projects)

This DIRECT Agreement is made on [insert date] day of [insert month] 20[insert year]

Parties

  1. 1

    [Insert name] (Company Number [insert number]) whose registered office is at [insert address] (the ‘Contractor’);

  1. 2

    [Insert name] (Company Number [insert number]) whose registered office is at [insert address] (the ‘Lender’ which expression shall include successors in title and any permitted assignee); [and]

  1. 3

    [insert name] (Company Number [insert number]) whose registered office is at [insert address] (the ‘ProjectCo’)[; and OR . OR

  1. 4

    [[insert name] (Company Number [insert number]) whose registered office is at [insert address] (the ‘Guarantor’).]

Whereas

    1. (A)

      The ProjectCo has entered into a contract dated [insert date] with the Contractor (the ‘Contract’) relating to the [design and engineering, AND/OR procurement, AND/OR supply, AND/OR construction, AND/OR testing and commissioning, AND/OR [insert other]] of [insert description of the asset] at [insert location of the asset] (the ‘Project’).

    1. (B)

      The Lender has agreed to provide finance in connection with the Project.

    1. (C)

      [Pursuant to the Contract, the Guarantor has entered into a guarantee in favour of ProjectCo in respect of the Contractor’s obligations under the Contract (the ‘Guarantee’).]

    1. (D)

      The Contractor has OR and the Guarantor have OR agreed to execute this Direct Agreement in favour of the Lender.

Now in consideration of the payment of £1 (receipt of which is hereby acknowledged by the

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