Articles by author
LMA incremental facility wording: one size fits all?
In this article the authors examine the process of establishing an incremental facility using the steps prescribed by the Loan Market Association’s (LMA) template wording and consider whether it represents common practice in the mid-market. An incremental facility (otherwise known as an “additional” or “accordion” facility) is an uncommitted facility (usually capable of being made available for acquisition, capex or general working capital purposes) which can be established by a borrower without the need to seek lender consent or amendments to the finance documentation provided that certain pre-agreed parameters are complied with.
1 MAY 2021What can a borrower do when a lender fails to fund?
This In Practice article examines market standard provisions designed to mitigate the risk posed by so called “Defaulting Lenders” and explores the options for a Borrower faced with a Lender that is unable to honour its lending commitments. Capitalised terms reflect the corresponding Loan Market Association (LMA) definitions.
1 MAY 2023
