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Banking & Finance analysis: This News Analysis provides a summary of the note published by the Loan Market Association (LMA) in which they address five key documentary areas where questions have been raised as to the potential effect of Brexit: (1) use of English law, (2) jurisdiction provisions, (3) EU references in documentation, (4) lending restrictions, and (5) Article 55 Bail-In clauses
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Overdraft facility letter: single company borrower—bilateral—with or without a guarantee[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower]Dear [insert name of borrower],We are pleased to advise you (the Company) that we are prepared to make
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
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
Overdrafts, term loans and revolving credit facilitiesThis Practice Note explains the features of three common types of loan facility:•overdrafts•term loans, and•revolving credit facilities (RCFs)It also considers the advantages and disadvantages of each type of loan facility from a borrower's
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