If you’re looking for a law firm with vast experience in facility or loan agreements, Glaisyers can help.
A facility letter or agreement is the basic document under which a bank sets out the terms on which it will lend money to a business or organisation. These agreements are highly complex and full of financial jargon that is sometimes hard to decipher. Our banking experts can advise both banks and borrowers on the detailed terms of these facility agreements and, in appropriate cases, recommend amendments to specific obligations or conditions.
Before a facility agreement is issued, most banks issue a loan term sheet. It’s important that any business with an outline agreement for a loan reads the term sheet closely, as it is extremely difficult to make important amendments at a later stage. Again, Glaisyers can offer clear, straightforward help and advice in these matters.
Another important part of a facility agreement sets out the supporting security in terms of legal charges, guarantees or debentures that the bank requires from the borrower. If Glaisyers are acting for the bank, we carry out an extensive range of searches and these are incorporated in a report on title.
Whatever your involvement in the loan process, there is no substitute for having an expert to explain the jargon and to make the process go extremely smoothly.