By S. Wright
This re-creation presents a hugely sensible and entire source for bankers and attorneys, in any respect degrees of expertise, thinking about foreign lending. the writer covers the phrases of foreign personal loan documentation with complete motives of the aim of the provisions, and of components that can require negotiation.
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Extra resources for The Handbook of International Loan Documentation: Second Edition
Sample text
15 ‘Non-Recourse Company’ means, at any relevant time, a company which, at such time, has no Financial Indebtedness other than Non-Recourse Indebtedness. ‘Non-Recourse Indebtedness’ means Financial Indebtedness incurred by a company (the ‘Project Company’) for the purposes of financing a particular project where (i) the principal assets and business of the Project Company are constituted by that project; and (ii) the provider of the Financial Indebtedness has no recourse against any member of the Group or its assets except the assets of the Project Company comprised in the project.
16 Pricing In what circumstances will the interest rate be different to the rate expected? 121. e. 215. 216. 117. 009. 077 SECTION 2 Hazards in reviewing a loan agreement Five principal difficulties arise in reviewing a loan agreement, which are worth highlighting here. These are the difficulty of spotting what is not there; the potential for conflict between different parts of the agreement; the significance of the precise wording of the definitions; appreciating the impact of repeating representations; and the difficulty of negotiating a document which is presented as being a market standard.
This issue is of particular importance to all parties. 126 43 44 45 Lenders need to ensure that the agreement provides them with sufficient powers in relation to all those issues which are relevant to their credit decision, which may well extend to issues involving members of the group which are neither borrowers nor guarantors. Borrowers will be concerned to insulate themselves as far as possible from problems which may arise in other parts of the group. They will also want to avoid the possibility that activities of other group members, particularly those over which the borrowers have no control, may result in the withdrawal of the borrowers’ funding.