Lenders rejoice! Contingent liabilities protected
2 min read
The partnership was established to acquire and develop land. The lender financed the endeavour by way of a £61.25m loan, pursuant to a Facility Agreement which was secured by a Security Agreement of the same date. The Facility Agreement contained clauses binding the borrower to pay to each secured party any sums (including legal fees) incurred in connection with the enforcement of any rights under the finance documents.