26. September 2021 · Comments Off on Lma Style Loan Agreement · Categories: Uncategorized

The main points for borrowers and lenders are to make sure that they know the terms of their credit agreement and that they fully understand and talk to each other. The more information lenders have, the easier it is for lenders to cooperate with the borrower in these difficult times. In its circular of 18 March 2020 addressed to all licensed banks operating in Oman, the Central Bank of Oman stated that it had decided to take a series of measures from the date of issue of the circular, including “accepting requests for deferral of credits/interest/profits for the borrowers concerned, in particular SMEs, with immediate effect for the next six months, without prejudice to the risk classification of these loans”.` This circular gives all relevant borrowers (in particular SMEs) the right to request a deferral of credit pension debts/interest/profits for six months. However, this should also be taken into account in the light of the contractual terms agreed in the credit agreement between the borrower and the lenders. Our documentation is developed after extensive consultation with leading credit practitioners and law firms, in order to present a common vision of the agreed documentation structures. Standardizing the “Boiler Plate” domains of documents allows lenders and borrowers to focus on the most important business aspects of individual transactions. We strive to constantly check our documentation to ensure that it continues to meet the objectives and needs of the primary and secondary markets. Add the words “warranty intent” to the warranty clause. It can be difficult for lenders to impose collateral if the terms of the underlying loan are changed a posteriori without the guarantor`s agreement. . . .

Comments closed.