Capex definition

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Environmental issues in property transactions when acting for a seller—checklist

Environmental issues in property transactions when acting for a seller—checklist Does a seller need to disclose land contamination to a buyer? If a seller is aware that the land is contaminated, it does not have to disclose this to a buyer. The general rule of ‘buyer beware’ applies. A seller will need to be careful not to make any misrepresentations when answering CPSE enquiries. 16.4 Please give details (so far as the Seller is aware) of: (a) past and present uses of the Property and of activities carried out there; and (b) the existence of any hazardous substances or contaminative or potentially contaminative material in, on or under the Property, including asbestos or asbestos-containing materials, any known deposits of waste, existing or past storage areas for hazardous or radioactive substances, existing or former storage tanks (whether below or above ground) and any parts of the Property that are or were landfill A seller will want to benefit from the ‘sold with information’ statutory exclusion test and give permission for the...

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Acquisition finance—senior facilities

Acquisition finance—senior facilities This Practice Note is intended as an introduction to facilities typically contained in a leveraged senior facilities agreement (SFA) and covers: • the main characteristics of each type of senior facility • typical senior lenders • documenting the terms of the senior facilities, and • the security and intercreditor position of senior facilities. For an introductory guide to acquisition and leveraged finance, see Practice Note: Introductory guide to acquisition finance. For more detail on typical terms applicable to senior facilities, see Practice Note: Introductory guide to leveraged finance facilities agreements. An explanation of many of the terms used in this Practice Note can be found in the Glossary of acquisition finance terms and jargon. Overview of senior facilities The senior facilities that may be provided to the group can broadly be divided into three types: • the main term facilities, used for the acquisition (or refinancing or recapitalisation, as applicable) • other term facilities eg incremental facilities, capex and/or further acquisition facilities, and • working...

The EU Taxonomy Regulation—essentials

The EU Taxonomy Regulation—essentials This Practice Note analyses the scope and impact of the EU Taxonomy Regulation (Regulation (EU) 2020/852), and related delegated acts, and considerations for asset managers. What is the law/regulation? In December 2019, the Council of the EU and the European Parliament reached political agreement on the text of a proposed Regulation on the Establishment of a Framework to Facilitate Sustainable Investment—the so-called ‘EU Taxonomy Regulation’. The EU Taxonomy Regulation (Regulation (EU) 2020/852) was published in the Official Journal of the EU (OJ) on 22 June 2020, entered into force on 12 July 2020 and applies from the dates detailed in What is the timeline? below. The EU Taxonomy Regulation amends, and uses definitions from, the EU regulation on sustainability‐related disclosures in the financial services sector (Regulation (EU) 2019/2088) (the EU SFDR) and it is supplemented by Commission delegated regulations which are summarised in Recent developments and delegated regulations below. For more information, see the Commission’s webpages on Sustainable finance and the EU taxonomy for sustainable activities....

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Ireland—EHS due diligence questionnaire—share purchase

Ireland—EHS due diligence questionnaire—share purchase General This environment, health and safety (EHS) due diligence questionnaire will help obtain key EHS information about the target’s business and properties. The EHS questions can be added to the legal due diligence questionnaire or used as a checklist for additional EHS enquiries. Buyers’ solicitors usually prepare a legal due diligence questionnaire in the preliminary or due diligence phase of the transaction. In some transactions replies are added to the seller’s data room. The legal due diligence questionnaire should always include EHS questions. Even an office-based business will be subject to general EHS laws such as waste management, environmental reporting and health and safety obligations. If the target has a manufacturing site or environmental permit, a technical phase 1 EHS report should ideally be undertaken by environmental consultants. Please change to ‘Property’ and ‘Group Company’ depending on the particular transaction. Environment Health and Safety Please provide the following: Question 1—EHS reports Environmental reports can provide essential information regarding the environmental performance of the target and...

Ireland—EHS due diligence questionnaire—asset purchase

Ireland—EHS due diligence questionnaire—asset purchase General This environment, health and safety (EHS) due diligence questionnaire will help obtain key EHS information about the Properties and/or Business. The EHS questions can be added to the legal due diligence questionnaire or used as a checklist for additional EHS enquiries. Buyers’ solicitors usually prepare a legal due diligence questionnaire in the preliminary or due diligence phase of the transaction. In some transactions replies are added to the seller’s data room. The legal due diligence questionnaire should always include EHS questions. Even an office-based business will be subject to general EHS laws such as waste management, environmental reporting and health and safety obligations. If any of the Properties are manufacturing sites or if the Business has an environmental permit, a technical phase 1 EHS report should ideally be undertaken by environmental consultants. Please change to ‘Property’ depending on the particular transaction. Environment Health and Safety Please provide the following: Question 1—EHS reports Environmental reports can provide essential information regarding the environmental performance of the...

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Commission adopts Delegated Act to simplify EU Taxonomy reporting rules

The European Commission has adopted a Delegated Act amending the EU Taxonomy framework to reduce reporting complexity for companies. The draft Delegated Act was originally tabled as part of the Commission’s omnibus sustainability package as published in February 2025.