LPC Law Notes Finance and Capital Markets Notes
A collection of the best Capital Markets and Loans* notes the director of Oxbridge Notes (an Oxford law graduate) could find after combing through dozens of LPC samples from outstanding students with the highest results in England and carefully evaluating each on accuracy, formatting, logical structure, spelling/grammar, conciseness and "wow-factor".
In short, these are what we believe to be the strongest set of Capital Markets and Loans notes available in the UK this year. This collection is...
The following is a more accessible plain text extract of the PDF sample above, taken from our Finance and Capital Markets Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:
Conditions Precedent
What?
Specific conditions which a bank requires a borrower to fulfil before part or all of the of facility agreement takes effect
Why?
Protects the bank before they lend
A request for a drawdown of the loan may not be given until the conditions precedent have been fulfilled or waived
Clause 4.1 of Credit agreement
Borrower is locked in so the bank’s fees become payable
Focuses and sets out issues that need to be addressed ahead of completion
Some CPs
Corporate documentation
Copy of constitutional documents of each borrower
Copy of resolution of board of directors of each borrower approving the terms of the Finance Documents and Credit Agreements and Security Agreements
Copy of resolution of board of directors approving SPA
Copy of resolution of board of directors of borrower appointing director
Forms AP01 signed by director
Copy of register of members of the company showing the allotment of shares
Specimen signature of each person authorised on behalf of borrower to enter into or witness entry into of any Finance Document
Copy of resolution of shareholders of each guarantor approving agreement
Share certificates
Certificate of an authorised signatory of company confirming not exceeding borrowing limit in company’s constitution
Security and other Finance Documents
Security Agreement
Completed MG01
Inter-creditor Agreement
Copy of SPA
Copy of seller’s completion statement
Land Charges Registry Search
Land Registry application forms
Certificate of title to borrower’s property
Report on title
Evidence of insurance cover in compliance with agreement
Environmental report on properties
Survey & initial valuation on each of the properties
Evidence that security has been released or will be released at completion
Legal Opinions
Other documents & evidence
Evidence that all fees and expenses then due and payable from the company have been or will be paid by the first utilisation date
Original financial statements
Copies of all necessary bank mandates
Copies of each subordinated credit agreement and each subordinated security agreement
Specific issues from workshop
Counsel’s legal opinion advising on possibility of successful defence against a potential action
Evidence that a higher fence has been erected
Full environmental report
Evidence that dangerous area fenced of
Evidence of claims being settled
Can Completion occur without the CPs being fulfilled?
The moment the borrower signs the Credit Agreement they will be locked into the agreement and the fees/expenses and repayments will initialise
BUT there are some CPs that are wrapped into the completion
Giving security over assets not yet bought as the loan monies are required for the acquisition
Discharging prior...
Buy the full version of these notes or essay plans and more in our Finance and Capital Markets Notes.
A collection of the best Capital Markets and Loans* notes the director of Oxbridge Notes (an Oxford law graduate) could find after combing through dozens of LPC samples from outstanding students with the highest results in England and carefully evaluating each on accuracy, formatting, logical structure, spelling/grammar, conciseness and "wow-factor".
In short, these are what we believe to be the strongest set of Capital Markets and Loans notes available in the UK this year. This collection is...
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