Bills of exchange—structure and partiesBills of exchange are negotiable instruments that represent an unconditional promise by one party to pay...
Term Loan B facilitiesThis Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in...
Invoice discounting and factoringThe popularity of financing business through the invoice discounting and factoring of receivables has grown...
Common financial covenantsThis Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum...
I've just noticed that an executed document has the wrong date on it. What should I do?The first thing you need to do is insert the correct date in the document which has been incorrectly dated. It is important that the date on the document accurately reflects the date on which the parties to it
Selling a loan by sub-participationSub-participation is a means by which a lender can transfer its risk in a loan to another entity.For more general information on loan transfers in a lending context, see Practice Note: Key issues in loan transfers.What is meant by
Bilateral, syndicated and club arrangementsOne of the key features used to categorise loans is the number of lenders involved. A loan involving one lender is known as a 'bilateral loan'. A loan involving more than one lender may be a 'syndicated loan' or be referred to as a 'club loan'. Multiple
Negative pledgesThis Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge
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