Where an employee is off work because of sickness or ill health.

Sickness benefits are payments made to individuals who are unable to work, or whose capacity for work is reduced, due to illness or injury. In UK and Irish legal practice the term is descriptive rather than a single defined concept, and encompasses a range of statutory and contractual entitlements.In England and Wales, Scotland and Northern Ireland, key statutory sickness benefits include Statutory Sick Pay (SSP) under the Social Security Contributions and Benefits Acts, and contributory or means-tested benefits such as New Style Employment and Support Allowance and Universal Credit. In Ireland, core schemes include Illness Benefit and Disability Allowance under the Social Welfare Consolidation Acts.Sickness benefits may arise under social security law, employment law (for example, contractual sick pay schemes and collective agreements), insurance law (income protection policies) and personal injury/clinical negligence practice (where recoverable loss of earnings is offset by benefits received).For practitioners, accurate identification, quantification and treatment of sickness benefits is important for advising on employee rights, discrimination and reasonable adjustments, tax and National Insurance/PRSI implications, overpayments and recovery, and for applying offset and recoupment rules in litigation and settlement.

An agreement with a specific investor in a fund which amends the fund’s main constitutional document, for example a limited partnership agreement, in respect of a particular investor.

  [To be printed on landlord’s letterheaded paper] Your Ref:                      Our Ref:                      Date:                      Dear [complete as appropriate] From: [name of Landlord] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] (Landlord, we, our, us) To: [name of Tenant] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] (Tenant, you, your) [ CC: [name of Guarantor] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] (Guarantor)] Re: Lease of [property description] (Property) made between (1) the Landlord[, OR and] (2) the Tenant [and (3) the Guarantor] and dated [date] (including any documents supplemental or collateral to it, other than this letter) (Lease) This letter is supplemental to the Lease. Unless stated otherwise, terms in this letter which are defined in the Lease have the same meaning in this letter.[ The terms ‘Landlord’, ‘we’, ‘our’ and ‘us include our successors in title.] 1 In consideration of you completing the Lease today, we confirm that the following provisions apply (subject to the terms and conditions of this letter): 1.1 [clause [number]

[To be printed on landlord’s letterheaded paper] Your Ref:                      Our Ref:                      Date:                      From: [name of Landlord] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] (‘Landlord’, ‘we’, ‘us’) To: [name of Tenant] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] (‘Tenant’, ‘you’, ‘your’) [ CC: [name of Guarantor] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] (Guarantor)] Dear Sirs Re: Request for reduced rent payments under your lease dated [date] of [description] (Property) made between (1) [name of original landlord][, OR and] (2) [name of original tenant][ and [name of any original guarantor or other original party to the lease]] (Lease) This letter is supplemental to the Lease. Unless stated otherwise, terms in this letter which are defined in the Lease have the same meaning in this letter. We refer to your letter dated [date] in which you have asked to pay a reduced rent under the lease, and to the financial information supplied with it. In the circumstances, we are prepared to grant

[To be printed on landlord’s letterheaded paper] Your Ref:                      Our Ref:                      Date:                      From: [name of Landlord] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] (‘Landlord’, ‘we’, ‘us’) To: [name of Tenant] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] (‘Tenant’, ‘you’, ‘your’) [ CC: [name of Guarantor] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] (Guarantor)] Dear Sirs Re: Request for monthly rent payments under your lease dated [date] of [description] (Property) made between (1) [name of original landlord][, OR and] (2) [name of original tenant][ and (3) [name of any original guarantor or other original party to the lease]] (Lease) This letter is supplemental to the Lease. Unless stated otherwise, terms in this letter which are defined in the Lease have the same meaning in this letter. We refer to your letter dated [date] in which you have asked if you can pay the [ [Annual OR Basic OR Yearly OR Principal OR [other term]] ] Rent under the Lease by monthly

[To be typed on letterhead of individual] [Insert name of consultancy company] [Insert address of consultancy company] Date: [insert date] Dear [insert name of consultancy company] [Insert name of consultancy company] (the Consultancy) [Insert name of client company] (the Company) Consultancy agreement I refer to the[ proposed] consultancy agreement between the Consultancy and the Company[ reference [insert reference]] [, a copy of which is attached to this letter,] (the Consultancy Agreement), under which you have an obligation to procure that I (as the individual providing services under the Consultancy Agreement) adhere to certain terms of the Consultancy Agreement. 1 Consultancy Agreement 1.1 I write this letter, in consideration for receiving from you payment for my services, to enable you to provide the Company with the assurances it requires under the Consultancy Agreement. For convenience, I have in this letter adopted the definitions set out in the Consultancy Agreement. 1.2 I warrant that I have beneficial ownership of [more than 50% of the OR the entire] issued share capital of the Consultancy. I undertake that, during the term of the Consultancy Agreement, I will not divest myself of that beneficial

Side letters are often used: • to make arrangements and grant concessions (eg in relation to the permitted use, the standards of repair or rental concessions), or • to avoid ambiguity, for example, on assignment or rent review The terms of the letters are usually intended to be: • legally binding • personal to the parties to the letter or binding on successors in title • temporary and/or terminable Successors in title—who is bound? One of the key question is whether a side letter will bind successors in title of the landlord and tenant. When drafting a side letter, it is of the utmost importance to specify whether the successors of the original landlord and tenant are to be bound. If a side letter is expressed to be personal to either party it will not bind the successors of that party. If it is silent on this matter, then it may bind successors. The position differs slightly, depending upon whether the lease is a ‘new tenancy’ (as defined in section 1 of the Landlord and Tenant

A type of account of a fund (typically a hedge fund) which is used to differentiate illiquid investments from more liquid investments.

This Practice Note covers the Financial Conduct Authority (FCA)’s regime that enables authorised funds to use side pockets for assets affected by the Russian invasion of Ukraine and the resulting sanctions. In particular, it sets out questions and answers relating to this regime, among other, on: scope; initial considerations; impact on investors; cost considerations; alternatives;  changes to the FCA’s proposed rules;  and any further FCA guidance relating to side pockets and managing side pockets. Background On 6 July 2022, the Financial Conduct Authority (FCA) issued policy statement PS22/8 ‘Protecting investors in authorised funds following the Russian invasion of Ukraine’ which set out emergency measures to deal with the impact of the Russian invasion of Ukraine on authorised funds and retail investors. The rules came into force on 11 July 2022. The policy statement followed on from the FCA consultation paper CP22/8 ‘Protecting investors in authorised funds following the Russian invasion of Ukraine’ which sought views on the proposed emergency measures. The

This refers to incremental debt which is within the incremental debt capacity but documented outside the main finance documents.

CASE HUB ARCHIVED—this archived case hub reflects the position at the date of the decision of 06/02/2019; it is no longer maintained. See further, timeline and timeline, and commentary. Case facts Outline European Commission merger investigation into the proposed merger of the mobility businesses of Siemens AG and Alstom S.A. (Case M.8677). The transaction involved horizontal overlaps in the markets for rolling stock (in particular for high speed, mainline and urban trains) and signalling solutions. Latest developments On 6 February 2019, the Commission prohibited the transaction. The Commission concluded that the transaction would have created an undisputed market leader in some signalling markets and a dominant player in high speed trains. The proposed commitments offered by the parties did not adequately address the Commission's concerns. Parties Siemens AG (Siemens), based in Germany, is active worldwide in several industrial areas. Its mobility division offers a broad portfolio of rolling stock, rail automation and signalling solutions, rail electrification systems, road traffic technology, IT solutions, as well as other products and services concerning the transportation of people and goods by rail