Sentences with phrase «facility agreement»

Both of these amendments are commonly made to facility agreements in practice.

We have acted for lenders and for housing association borrowers in negotiating complex facility agreements.

In the recent case of Toronto Standard Condominium Corporation No. 1487 v. Market Lofts Inc., («TSCC No. 1487 v. Market Lofts»), the Court found that the 10 year limitation period prescribed by the RPLA is applicable to actions by parties to a shared facilities agreement for any default in payment under that agreement.

Disputes and restructurings arising from alleged breaches of covenant (e.g. solvency, LTV and interest cover covenants) under facility agreements relating to property and corporate acquisition finance

Advised MIRAX GROUP HOLDING BV in relation to a dispute in Russia and England over the terms of a US$ 300m facility agreement provided by an investment bank.

In the Market Lofts case, the shared facilities agreement specifically contemplated an unregistered lien arising in the event of default in payment of any amounts owing under the agreement.

She pioneered the recent introduction by the Loan Market Association of a real estate finance facility agreement which is expected to become the market standard document in the real estate finance world.

First, it is detailed in a Memorandum of Understanding (MoU), which is annexed to the Financial Assistance Facility Agreement concluded between the Member State and the EFSF (or ESM, EFSM, depending on the case).

The Polish project financing market is accustomed to English law facilities agreements.

Gold hopeful ABM Resources has restructured its board and initiated a capital raising and debt facility agreement as it progresses its Tanami tenements in the Northern Territory.

For years, the board has lamented the existence of charter schools and treated them as unwanted competition, placing onerous conditions on approval and roadblocks to sustainability, like the year - to - year facilities agreements that make life hard for schools and their parents and are part of the current disagreement.

He has experience of banking & financial services disputes of a varied nature, including under LMA facility agreements, mortgage disputes (including possession proceedings), prime brokerage, derivatives, claims in relation to «vishing» scams and for recovery of mistaken bank payments, in the context of both commercial and retail banking.

UBC relied on a limitation of liability clause in its Sperm Bank Facility Agreement, stating it was not responsible for damage caused by improper storage, maintenance or freezing.

The proceedings concerned the interaction and interpretation of a senior facilities agreement and intercreditor agreement (with Richard Snowden QC).

Woodsford Litigation Funding, one of the leading global third party funders, has announced a funding facility agreement with Lewis Baach which ensures the firm can offer clients an expedited, one - stop arrangement for the financing of high value litigation and arbitration.

Maxted v Investec Bank Plc [2017] concerned loans made by Investec to three Luxembourg companies under three separate facility agreements, so that the borrowers could purchase real estate in Germany.

The lender will also wish to consider requiring the guarantors to enter into a deed of confirmation in which they state that the guarantees will continue to apply in respect of the amended facility agreement.

A typical committed term loan facility agreement will contain a number of yield protection clauses which are designed to ensure that the bank, over the term of the commitment, receives the return which it expects when entering into such an agreement.

Highlights included advising Sovereign Capital on the acquisition of Xendo, with facilities from European Capital; acting for PH Homes on the financing of the acquisition and development at Alderley Park; and advising HSBC Bank on a # 6.2 m multi-currency revolving credit facility agreement for UP Global Sourcing Holdings and UP Sourcing UK.

Technically, the agreement is the third amendment of the Master Financial Assistance Facility Agreement (MFFA), initially concluded between Greece and EFSF on 15 March 2012.

Re the Eurotunnel group [2006 to 2007] French sauvegarde proceedings; enforcement of turnover and security rights under English law facility agreements and security; Insolvency Regulation, article 5.

The provisions of the subject agreement in the Market Lofts case are similar to provisions that we typically see in most shared facilities agreements, or co-tenancy agreements.

whether the undertakings and representations in their facility agreements provide suitable protections and rights against borrowers who fail to comply with their statutory obligations under the MEES Regulations.

ICICI Bank Ltd v GVK Power and Infrastructure Limited (with Bankim Thanki QC): acting for a borrower in a Commercial Court dispute with the Singapore branch of an Indian bank (acting as facility agent) under a US$ 1 billion loan facility, regarding the proper scope of restrictions on the sale of assets under the facility agreement.

Nobody is expected to draft a facility agreement or an offering memorandum on day one in the seat.

BNP Paribas in the extension of the US$ 28 million loan facility under a facility agreement made between, among others, Shunkhlai LLC as borrower and BNP Paribas as agent, including the assignment of the reinsurances in relation to the Shunkhlai group companies

For example, if the borrower suspects that it will be unable to repay the borrowed money on time and the bank is willing to let the borrower have extra time to pay, the facility agreement will need to be amended to push back the repayment date; if the borrower needs to borrow more money than was originally made available, the facility agreement will need to be amended to increase the commitment.

A lender will want to consider gaining guarantors» consent for any amendments to a facility agreement which may adversely affect the guarantors.

The guarantors refused to pay, arguing that the personal guarantees had been discharged as a result of substantial amendments to the facility agreements (which the guarantors argued were outside the scope of the indulgence clause in the personal guarantees).

Making changes to a facility agreement without the consent of any guarantors who are guaranteeing the monies lent under the agreement can lead to the guarantees being rendered ineffective.

Both directors signed a statement on the last occasion when the facility agreements were amended to confirm that Investec could continue to rely on the personal guarantees and stating that they waived their right to seek independent legal advice in respect of the personal guarantees.

The guarantors claimed that they could not recall being consulted about the amendments to the facility agreements and that they had not received any advice in relation to their role as guarantors (they stated that banking affairs of the borrower companies had been dealt with by a business partner who had since died, though both of the guarantors had executed the banking documents).

It is very common in practice for facility agreements to be amended.

The High Court held that, on the facts, the changes to the facility agreements (extending the term of the loan and rolling up the interest) were within the scope of the indulgence clause in the guarantee.

The facility agreements were amended more than once to extend the term of the loans and to roll up the interest.

Semi-conductor company outsourcing a part of its manufacturing line in a transaction that involved master outsourcing agreement, facilities agreement, intellectual property transfer (both by license and assignment) agreement, escrow agreements and numerous agreements with third party licensees

Lenders should ensure that the Market Disruption clause is included in the facility agreement.

Acting in relation to an alleged breach of a US$ 150 million facility agreement, against Deutsche Bank AG.

Providing legal advice to a German global banking and financial services company on the transfer of the Cypriot secured property it held by way of Cyprus pledges in respect of two facility agreements of USD 265 million to a new security agent.

Advised a major Russian bank on various amendments relating to a facility agreement (value of USD 850 million) provided to a major international group operating in the energy, infrastructure development and real estate sectors.