Amendments, waivers and releases

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Amendments, waivers and releases guidance:

During the term of a facility, the borrower's financial position is likely to fluctuate. Sometimes, its circumstances change to such an extent that it wants the terms of...

Practice Note

Reasons for amending security documents and key risks Reasons for amending a security document There are situations where parties may consider amending security...

Practice Note

[To be printed on the headed paper of the lender] [insert date] To: [insert name and address of borrower] [and] [[insert name and address of guarantor, if applicable]]...

Precedents

[To be printed on the headed paper of the Guarantor] [insert date] To: [insert name and address of the lender] Dear [insert full name of lender] 1 We refer to the...

Precedents

One of the initial signs of distress is usually a covenant breach by the company. The lenders may agree to a simple waiver, which cures a temporary blip in the company's...

Practice Note

Brexit impact This Practice Note is impacted by the decision of the UK on 23 June 2016 to leave the European Union. For further details of the impact on the Recast...

Practice Note

This Deed is made on [date] Parties 1 [insert name of third party security provider], a company incorporated in England and Wales with registered number [insert company...

Precedents

This Deed is made on [insert day and month] 20[insert year] Parties 1 [insert name of Lender], a company incorporated in England and Wales with registered number [insert...

Precedents

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...

Practice Note

When is security transferred? Security interests would usually be transferred between creditors in instances where: • a secured bilateral loan is transferred or assigned...

Practice Note

To deal with the discharge and release of security, it is necessary to consider: • the conditions to be satisfied before any release is effected eg the redemption amount...

Practice Note

[To be printed on the headed paper of the lender] [insert date] To: [insert name and address of borrower] Dear [insert full name of borrower] 1 We refer to the facility...

Precedents

[To be printed on the headed paper of the lender] [insert date] To: [insert name and address of borrower] [and] [insert name and address of guarantor, if applicable] Dear...

Precedents
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