Use-case Definition: Whereby an auditor undertakes a review of a corporate’s loan agreements to verify the accuracy of financial statements and records.

Extractor Name

Extract 4 Only?

Definition

Sample of Extracted Data Point  (* result normalised)

Sample of Context (for Analysing models)

Chaining Recommendation

Administrative fee - percentage only (Facility Agreements)

Extract 4 only

Finds the specific rate at which the fee that the obligor must pay the administrative or facility agent is computed, often found in a clause commonly called 'fees' or 'administrative agent fees'.

35 per cent

The Borrower shall pay to the Agent (for the account of each Lender) a fee computed at the rate of 35 per cent. of the Applicable Margin on the Available Facility.

Position 1 in the Administrative fee chain

Administrative fee (Facility Agreements)

Extract 4 only

Finds the types of administrative fees that the obligor must pay, such as utilisation fees, exit fees, or security fees. Also finds references to where further details about fees can be found (e.g. the Fee Letter) 

10. FEES 10.1 Commitment fee The Borrower shall pay to the Agent (for the account of each Lender) a commitment fee in the amount and at the times agreed in a Fee Letter. 10.2 Upfront fee The Borrower shall pay to the Agent (for the account of the Lenders) an upfront fee in the amount and at the times agreed in a Fee Letter. 10.3 Agency fee The Borrower shall pay to the Agent (for its own account and for the account of the Security Agent) an agency fee in the amount and at the times agreed in a Fee Letter. 10.4 Anniversary fees The Borrower shall pay to the Agent (for the account of the Lenders) certain anniversary fees in the amounts and at the times agreed in a Fee Letter. 10.5 Exit fee The Borrower shall pay to the Agent (for the account of the Lenders) an exit fee in the amount and at the times agreed in a Fee Letter. 10.6 Make-whole fee The Borrower shall pay to the Agent (for the account of the Lenders) a make-whole fee in the amount and at the times agreed in a Fee Letter.

N/A

Position 2 in the Administrative fee chain

Assignment fee (Facility Agreements)

Extract 4 only

Finds the clause commonly entitled “Assignment or Transfer fee” and contains the amount, or way of calculating the amount, a party might pay to an agent following an assignment. It should also find whether an agent might waive the fee and other provisos. 

25.3 Assignment or transfer fee 25.3.1 The New Lender shall, on the date upon which an assignment or transfer takes effect, pay to the Agent (for its own account) a fee of EUR 1,000. 25.3.2 No fee is payable pursuant to Clause 25.3.1 if: 25.3.2.1 the Agent agrees that no fee is payable; or 25.3.2.2 the assignment or transfer is made by an Existing Lender: (a) to an Affiliate of that Existing Lender; or (b) to a fund which is a Related Fund of that Existing Lender.

N/A

Position 2 in the Assignment fee chain

Assignment fee - amount only (Facility Agreements)

Extract 4 only

Finds the specific fee that a party might pay to an agent from within the clause commonly called 'Assignment' or 'Transfer fee'.

EUR 1,000

25.3 Assignment or transfer fee 25.3.1 The New Lender shall, on the date upon which an assignment or transfer takes effect, pay to the Agent (for its own account) a fee of EUR 1,000. 25.3.2 No fee is payable pursuant to Clause 25.3.1 if: 25.3.2.1 the Agent agrees that no fee is payable; or 25.3.2.2 the assignment or transfer is made by an Existing Lender: (a) to an Affiliate of that Existing Lender; or (b) to a fund which is a Related Fund of that Existing Lender.

Position 1 in the Assignment fee chain

Currency - definition (Facility Agreements) 

N/A

Finds the definition of the term “Currency”. It also finds a description of the facility containing a reference to the currency the facility is offered in. 

Base Currency means: (a) for Facility B and the Original Revolving Facility, euro; and (b) in relation to any Additional Facility, as agreed between the Company and the applicable Additional Facility Lenders.

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Currency (Facility Agreements)

N/A

Finds the clause commonly entitled “Currency of Account”, which gives the currency the facility is offered and repaid in, as well as other currency-related matters. 

27.6 Currency of account 27.6.1 Subject to Clauses 27.6.2 to 27.6.5 below, sterling is the currency of account and payment for any sum due from the Issuer under any Finance Document. 27.6.2 A repayment of a Loan or Unpaid Sum or a part of a Loan or Unpaid Sum shall be made in the currency in which that Loan or Unpaid Sum is denominated on its due date. 27.6.3 Each payment of interest shall be made in the currency in which the sum in respect of which the interest is payable was denominated when that interest accrued. 27.6.4 Each payment in respect of costs, expenses or Taxes shall be made in the currency in which the costs, expenses or Taxes are incurred. 27.6.5 Any amount expressed to be payable in a currency other than sterling shall be paid in that other currency.

N/A


Date of agreement - date only (Facility Agreements)

Extract 4 only

Finds the specific date of a Facility Agreements execution from within the clause or statement that defines the execution date of the agreement.

21/05/2015

THIS AGREEMENT is dated 21 MARCH 2015 and made between:

Position 1 in the Date chain

Date of agreement (Facility Agreements)

N/A

Finds a Facility Agreement’s execution date. Trained on Facility Agreements.

THIS AGREEMENT is dated 21 MARCH 2015 and made between:

N/A

Position 2 in the Date chain

Default interest (Facility Agreements)

N/A

Finds the full clause relating to when default interest would be payable, the rate of interest and how this interest would be calculated. Trained on Facility Agreements.

10.3 Default interest (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is 1.50% per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted the Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 10.3 shall be immediately payable by the Obligor on demand by the Agent. (b) If any overdue amount consists of all or part of the Loan which became due on a day which was not the last day of an Interest Period relating to the Loan: (i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to the Loan; and (ii) the rate of interest applying to the overdue amount during that first Interest Period shall be 1.50% per annum higher than the rate which would have applied if the overdue amount had not become due. (c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.

N/A


Facility / loan - definition (Facility Agreements) 

Extract 4 only

Find the definitions of the terms “Facility” or “Loan”, which describe what forms of credit the lenders make available to the obligor. 

"Facility" means the term loan facility made available under this Agreement as described in Clause 2 (The Facility).

"Loan" means each and all of an Acquisition Refinance Loan and a Development Loan.

N/A


Facility agent fee (Facility Agreements)

Extract 4 only

Finds the fees that the obligor must pay to the agent. Also finds references to where further details about the fees can be found (e.g. the Fee Letter) 

§4.3 Agent Fee. The Borrower shall pay to the Agent, for the Agent’s own account, a non-refundable Agent’s administrative fee pursuant to the Agreement Regarding Fees. The Agent’s fee shall be payable upon the Closing Date and on each annual anniversary date thereof until the

N/A


Governing law

N/A

Finds the whole clause pertaining to the governing law of the agreement.

35. GOVERNING LAW This Agreement and any non-contractual obligations arising out or in connection with it are governed by English law.

N/A

Position 2 in the Governing law chain

Governing law - governing law only

Normalisation Extract 4 only

Finds the specific name of the governing law of the agreement.

England and Wales

35. GOVERNING LAW This Agreement and any non-contractual obligations arising out or in connection with it are governed by English law.

Position 1 in the Governing law chain

Jurisdiction

N/A

Finds the whole clause identifying the courts with the power to hear a dispute.

(a) Any legal action or proceeding with respect to this Agreement or any other Loan Document shall be brought in the courts of the State of New York sitting in New York County or of the United States of America for the Southern District of New York,

N/A

Position 2 in the Jurisdiction chain

Jurisdiction - jurisdiction only

N/A

Finds the whole clause identifying the courts with the power to hear a dispute.

State of New York sitting in New York County

(a) Any legal action or proceeding with respect to this Agreement or any other Loan Document shall be brought in the courts of the State of New York sitting in New York County or of the United States of America for the Southern District of New York,

Position 1 in the Jurisdiction chain

Margin - definition (Facility Agreements)

N/A

Finds the definition of "Margin", "Applicable Margin", "Applicable Rate" and similar equivalents. Trained on Facility Agreements.

“Applicable Margin” means: (a) From and after the Second Restatement Effective Date until the first Adjustment Date, the percentages set forth in Level II of the pricing grid below; and (b) From and after the first Adjustment Date and on each Adjustment Date thereafter, the Applicable Margin shall be determined from the following pricing grid based upon the Average Excess Availability on the last day of the most recent Fiscal Quarter ended immediately preceding such Adjustment Date....

N/A


Notice

N/A

Finds provisions on how general notices should be served upon a party and permissible forms of communication.

SECTION 8.01 Notices. (a) Notices Generally. Unless otherwise expressly provided herein, all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile to the applicable party hereto, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as provided in Schedule 8.01. Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in paragraph (b) below shall be effective as provided therein. (b) Electronic Communications. Notices and other communications to the Lender hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Lender; provided that the foregoing shall not apply to notices to the Lender pursuant to Article II if the Lender has notified the Borrower that it is incapable of receiving, or is unwilling to receive, notices under Article II by electronic communication. The Lender or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications.

N/A


Parties

Extract 4 only

Finds and extracts each piece of information for a single party from a full party clause. The party information will be arranged on the review form in the order of (1) party name (2) party definition, (3) party number (4) party address separated by the | character. 

Name: ANGLO-JET LIMITED | Definition: Borrower); | Number: 413124121 | Address:123 Main Street, London, N1 9GH
Name:  FINBANK LIMITED | Definition: FinBank | Number: 2811/000014/09 | Address:
Name: ABC BANK LIMITED | Definition: Lead Arranger | Number: 143513141 | Address: Tower 1, Peeps Street, London, N1 8FD.

(1) ANGLO-JET LIMITED (incorporated under the laws of England & Wales) with registration number 413124121 (the Borrower) and registered office at 123 Main Street, London, N1 9GH;

(2) FINBANK LIMITED (acting through its Nedbank Corporate and Investment Banking division) (incorporated under laws of the South Africa) with registration number 2811/000014/09, as mandated lead arranger (FinBank).

(3) ABC BANK LIMITED (acting through its Corporate and Investment Banking division) (incorporated under the laws of France) with registration number 143513141, as mandated lead arranger (Lead Arranger) and registered office at Tower 1, Peeps Street, London, N1 8FD.


Termination date - definition - date only (Facility Agreements)

Extract 4 only

Finds the specific termination date from within the definition of "termination date" or "maturity date".

30/04/2019

Termination Date means 30 April 2019, or if the same is not a Business Day, the preceding Business Day.

Position 1 in the Termination date chain

Termination date - definition (Facility Agreements)

N/A

Finds the termination date of the loan, or termination dates for each tranche or facility. Trained on Facility Agreements.

Termination Date means 30 April 2019, or if the same is not a Business Day, the preceding Business Day.

N/A

Position 2 in the Termination date chain

Total commitments - definition - amount only (Facility Agreements)

Extract 4 only

Finds the specific amount of the total commitments from within the definition of "Total Commitments" or similar definitions.

9750000000 $

Total Commitments means the aggregate of the Commitments of all the Lenders, being $9,750,000,000 as at the date of this Agreement.

Position 1 in the Total commitments chain

Total commitments - definition (Facility Agreements)

N/A

Finds the definition of total commitments, or totals for specific tranches or facilities. Trained on Facility Agreements.

Total Commitments means the aggregate of the Commitments of all the Lenders, being HK$9,750,000,000 as at the date of this Agreement.

N/A

Position 2 in the Total commitments chain