Representations
| Title | Description |
|---|---|
| Representations | This nugget reviews the functions of the representations, focussing in particular on their role in risk allocation. It reviews the representations from the investment grade LMA loan agreement, highlighting the extension of some representations to non Obligors and also looking at some key issues on the representations relating to withholding tax, breach of contract and litigation, as well as explaining the pari passu representation. |
| Repeated Representations | This nugget deals with repeated representations. It highlights the hazards of repeating representations and suggests some strategies for avoiding those hazards, as well as pointing out particular representations which commonly cause problems when repeated. It looks at the different consequences of misrepresentation and breach of undertaking and the difference between repetition of representations leading to an Event of Default and conditions precedent as to representations. |