Ancillary facilities meaning

Mergers CMA prohibits Aramark/Entier; Aramark ordered to unwind merger The CMA has published its final report from its phase 2 investigation into Aramark Limited’s completed acquisition of Entier Limited. Both businesses supply catering and ancillary facilities management to the offshore energy industry in the UK North Sea, providing food and housekeeping for crews working on oil rigs and for those constructing wind farms. The CMA determined the deal has resulted in, or could foreseeably result in, an SLC in the market for the supply of offshore catering and ancillary facilities management services to customers for assets in the oil and gas sector on the United Kingdom Continental Shelf (UKCS). Specifically, the CMA found that: the merger brings together two of the three leading UK suppliers; Aramark and Entier are regarded as particularly strong providers, with customers typically expecting to invite both to UKCS tenders; and other rivals are unlikely to offer sufficiently strong alternatives to the merged entity in the near term...

Acquisition finance transactions In an acquisition finance transaction, beyond the debt—whether constituted by loans or bonds—needed to finance the deal, the borrower group will commonly require additional banking facilities. These might include, for example, an overdraft, a stand-by letter of credit facility or a foreign exchange facility, and can frequently all be delivered under the umbrella of a revolving credit facility (RCF) in the senior facilities agreement (SFA). The RCF will usually be capable of being drawn in three distinct ways: in cash (by way of revolving loans) as syndicated, non-cash facilities, eg letters of credit—these will be identified in the documentation; and in the form of bilateral lines known as ancillary facilities Unlike a revolving credit facility drawn in cash, ancillary facilities are not typically of a kind that lends itself to division amongst several lenders, so the documentation caters for their provision on a bilateral basis. For more on the revolving credit facility, in particular how revolving loans...

The key documents in a buyout include: a sale and purchase agreement articles of association for the investee company, or its parent, which will function as the buyout vehicle/group, i.e. the entity that will acquire the target group or business an investment agreement a facility agreement together with associated security documents For more detailed guidance, see Practice Note: Buyouts. Sale and purchase agreement The sale and purchase agreement records the transfer of ownership of the target business, whether structured as a share sale or an asset sale...

Documents for a typical project finance transaction These can be divided into three main groups: Finance documents — set the rules for the project’s debt funding, covering the senior debt together with any related facilities (for example, a cost overrun facility or another standby facility) and any ancillary facilities (for example, a letter of credit facility or a working capital facility). Project documents — the suite of contracts on which the project rests, typically including the concession agreement (if any), the construction contract, the operation and maintenance contract, and supply and offtake contracts (for more information, see: Project documents—issues for lenders—overview). Shareholder or equity documents — govern the equity investment terms and the relationships between the project’s investors (for more information on equity support in project finance, see Practice Note: Equity support in project finance). This Practice Note focuses on the first set — the finance documents — outlining what they comprise and highlighting some of the principal terms contained within...

1 Definitions [ Gaming Machine Permit • means the licensed premises gaming machine permit issued by the licensing authority pursuant to section 283 of the Gambling Act 2005 and the Licensed Premises Gaming Machine Permits (Scotland) Regulations 2007 SSI 2007/505; ] Licensing Board • means the licensing authority empowered to grant premises licences in terms of the L(S)A 2005; [ Local Authority • means the local authority empowered by the Roads (Scotland) Act 1984 to issue a Street Café Permit; ] L(S)A 2005 • means the Licensing (Scotland) Act 2005; Permitted Use • [ means use of the Premises as an hotel or aparthotel falling within Class 7 of the Schedule to the Town and Country Planning (Use Classes) (Scotland) Order 1997 SI 1997/3061, together with ancillary [ insert details of additional facilities eg reception, offices, shop, meeting or conference rooms, breakfast room, restaurant, bar, lounge, kitchen, gym, laundry room ] or other suitable facilities, and, ancillary to that, the sale of food...