Draft Facility Agreement

7 décembre 2020

all sureties (if the terms of the guarantee are within the framework of the agreement) and the default clauses will determine the circumstances under which a lender will be able to place the loan on demand, avoid companies from granting new loans, demand repayment of unpaid principal and interest, terminate the facility and enforce the guarantee. We have published a note entitled « Documentary implications of the end of the Brexit transition period for LMA facility Documentation » which consolidated and updated previous Brexit notes published in September 2016 and April 2019, as well as two EU legislative benchmarks. We have published a revised agreement on the agreement on the switching agreement of the tempered window (Lookback without postponement of observation). new agreement on the average exchange rate agreement (retrospective with postponement of compliance); Revised comments on tariff change mechanism agreements; The maturity sheet for tariff-change facility agreements; and RFR conditions for use in addition to the revised replacement of the screen flow language. The lender will also insist that the agreement be drafted so that parts of the contract are put into service immediately after completion and that fees are due, rather than waiting for the borrower to receive the funds. These documents (for which the context allows, text, content, tables with macros and electronic interfaces, as well as their underlying assumptions, conversions, formulas, algorithms, calculations and other mathematical and financial techniques) are made available to members of the Credit Market Association, in accordance with the statutes of the Credit Market Association (a copy of which is available here) to facilitate the documentation of transactions in the credit markets. None of the Loan Market Association, Allen-Overy or Clifford Chance assumes any responsibility for any use of these materials or any loss, damage or liability resulting from such use. None of the Loan Market Association, Allen-Overy or Clifford Chance has considered the laws of a jurisdiction that may apply to any of the parties to an agreement using these materials and its purpose. Members should therefore consider all relevant legal, accounting and regulatory issues before using these materials or entering into a transaction in connection with these materials and, if necessary, consulting with their professional advisors. In seeking an appropriate agreement on benchmark investments, consideration is generally given to the validity, legality and applicability of the borrower`s obligations (as the borrower must be duly contracted, having the power to borrow and is not late with other credit agreements) and the borrower`s financial and commercial situation (that he or she has no disputes against him and that the accounts are properly verified). The severity of such a clause can be mitigated by the fact that the lender should act reasonably in all circumstances, that the review of the lender`s opinion should be that of its reasonable opinion, and that the clause should only be used where an adverse change is likely to affect the borrower`s ability to meet its obligations under the terms of the loan contract itself and not only to the borrower`s transactions in general.