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Forced OrderMinefield
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Under the LMA, a borrower will be contractually obliged to gross-up interest payments if a lender transfers a loan to a lender that is not a 'qualifying lender' (T/F).
This form of participation will expose an existing lender to a credit risk in respect of undrawn amounts.
An English lawyer can provide a legal opinion on the validity of foreign execution documents. (T/F)
This party acts as the custodian of the global bond following an issue.
This sets out the main terms of the proposed bond issue and invites prospective managers to join the syndicate of banks that will subscribe for the bonds.
This allows an issuer to avoid having to pay withholding tax on interest payments under the bond.
Under the LMA, the Lenders provide the Agent with _______ for any costs that it incurs in taking action.
Section ____ of the Law of Property Act 1925 contains the perfection requirements for a legal assignment by way of security.
The rule in _______ v Rolt provides that once a lender has notice of a subsequent security interest over the same asset all subsequent advances will rank behind in priority
______________ subordination may occur when a subsequent lender is given security by a holding company over shares in a subsidiary that has already lent to someone else.
A 2-3 business day grace period will generally be allowed to remedy failure to pay any amount payable pursuant to a Finance Document which was caused by an admin error. (T/F)
A _______ charge will generally be taken over future property by a bank seeking as strong a security package as possible.
This clause allows a lender the right to allocate sums received from the borrower in any way it chooses.
Under the LMA, it is possible to enforce a guarantee as an independent and primary obligation. (T/F)
If there is a chance of financial assistance arising, the relevant company due to provide the prohibited assistance will generally be re-registered as a private company (T/F).
Auditor's comfort letters in relation to bonds are legally binding. (T/F)
Under the LMA, representations are deemed repeated on the first day of each ______ period and on each utilisation request.
There are usually lower _________ costs associated with a bond issue than a syndicated loan.
A summary is always required on a listed bond issue. (T/F)
This document sets out the terms of the appointment of a lead manager in a bond issue, and an arranger in a syndicated loan.

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