Powered by Lexis+®
CASE STUDY

“We rely on LexisNexis to give us a definitive answer, quickly and reliable every time so that we can be confident in the advice we use to help our clients.”

Shelter

Access all documents on Extension fee

Extension fee meaning

What does Extension fee mean?
An extension fee is a charge payable to lenders when a borrower extends the maturity date of an existing loan facility. In practice, it is consideration for lenders agreeing to a longer tenor and the associated pricing and administrative risk. The term is not defined by legislation or case law; it is market usage in facility agreements (including LMA‑based syndicated and bilateral loans, term loans and revolving credit facilities). Key features typically include: - Calculated as a fixed amount or a percentage of each consenting lender’s commitments or participations, paid pro rata on the extension effective date. - Payable in addition to any margin step‑up and any separate amendment or waiver fee, and commonly non‑refundable once paid. - Documented in a pre‑agreed extension option notice, or in an amendment and restatement or extension letter. Changing the maturity date usually requires majority lender consent, or all‑lender consent where the agreement so provides; the extension fee is typically payable only to consenting/participating lenders. Usage and effect are broadly consistent across England and Wales, Scotland, Northern Ireland and Ireland, with specifics governed by the facility agreement’s terms and governing law. Distinct from arrangement, commitment and utilisation fees.
Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business–all whilst saving time and reducing risk.

View the related Checklists about Extension fee

CHECKLISTS
Probate caveats under the NCPR 1987: entry, extension, warning, appearance, withdrawal, fees, time limits and forms—procedural guide for practitioners (England and Wales)

Caveat is entered Non-Contentious Probate Rules 1987 (NCPR 1987), SI 1987/2024 (as amended) Apply for a caveat online or via Form PA8A (see the forms tab within the Probate actions subtopic) — NCPR 1987, SI 1987/2024, r 44(2). The caveator lodges the caveat at the Principal Registry of the Family Division or at a district probate registry by post or electronically — NCPR 1987, SI 1987/2024, r 44. Fee: £3; if submitted electronically, payment must also be electronic — NCPR 1987, SI 1987/2024, r 44. The deceased’s name is recorded in the index of caveats — NCPR 1987, SI 1987/2024, r 44(4). Unless otherwise provided, the caveat endures for six months from the date of entry — NCPR 1987, SI 1987/2024, r 44(3)(a). The index of caveats is checked — NCPR 1987, SI 1987/2024, r 44(4). On receiving an application for a grant at the registry of filing or notice of an application made elsewhere, the district judge or registrar...

Read More Right Arrow

View the related News about Extension fee

NEWS
Consultation on accelerating planning in England: 10‑week major commercial decisions with fee refunds, limits on extensions of time, simplified appeals, and implementing TCPA 1990 section 73B with revised fees

What is the background to the consultation? In the Autumn Budget 2023, the Chancellor of the Exchequer, Rt Hon Jeremy Hunt MP, set out a number of measures, including plans to boost the capacity of the planning system so it can better serve businesses, such as rolling out premium planning services across England with guaranteed quicker decision dates for major schemes and fee refunds where deadlines are missed. In the Spring Budget 2024, presented on 6 March 2024, the government confirmed it would consult on this accelerated service. Later the same day, it released a consultation titled ‘An accelerated planning system’. Open until 1 May 2024, the consultation invites views on proposals to: introduce a new accelerated planning service for major commercial applications, providing a decision within ten weeks, with fees refunded if that timeframe is not achieved revise the use of extensions of time, ending them for householder applications and allowing only a single extension for other developments, linked to a proposed new performance...

Read More Right Arrow
NEWS
UK tax weekly update: case law (Mainpay, Hippodrome, SKAT), HMRC guidance, cryptoasset ETNs in pensions/ISAs, Pillar Two territories, Welsh Budget LTT changes, ATED/SDLT option – 16 October 2025

In this issue: Employment taxes Companies and corporation tax VAT Budgets and Finance Bills International Real estate tax Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Employment taxes Court of Appeal dismisses ‘discontinuous contract of employment’ while confirming need for causal link to carelessness for extension of assessment timeframe (Mainpay Ltd v HMRC) In Mainpay Ltd v HMRC [2025] EWCA Civ 1290, the Court of Appeal confirmed that extended assessment time limits apply where there is carelessness, and held that sporadic work under one contract is not continuous employment. HMRC was required to demonstrate a sufficient causal connection between taxpayer carelessness and the tax lost to justify using the longer time limits, and in this instance it satisfied that requirement. See News Analysis: Court of Appeal dismisses ‘discontinuous contract of employment’ while confirming need for causal link to carelessness for extension of assessment timeframe...

Read More Right Arrow
NEWS
Weekly life sciences legal and regulatory briefing, 4 September 2025: IP judgments (Xarelto), critical medicines and GMP updates, MHRA devices guidance, VPAG setback, research data use, and medicines advertising

In this issue: Intellectual property Pharmaceuticals—regulatory landscape Medical devices Commercialisation Life sciences and data protection Medicines advertising LexTalk® Life Sciences: a Lexis®Nexis community News alerts—daily and weekly Updated and new content Trackers Useful information Intellectual property Bayer keeps Xarelto profits from period of sales ban On 1 September 2025, a London court decided that Bayer may retain the profits it gained from sales of its blood‑thinning medicine Xarelto during an interim sales ban that stopped generic drugmakers from infringing a patent that has since been revoked. See News Analysis: Bayer retains Xarelto profits earned during sales ban. Judgment Alert: Sandoz Ag v Bayer Intellectual Property GmbH [2025] EWHC 2201 (Pat). The judgment for this case has been published. See: [2025] EWHC 2201 (Pat). Judgment Alert: Generics (UK) Ltd v Astrazeneca Ab [2025] EWHC 2203 (Pat). The judgment for this case has been published. See: [2025] EWHC 2203 (Pat)......

Read More Right Arrow

View the related Practice Notes about Extension fee

PRACTICE NOTES
Master trusts: authorisation, supervision, continuity and enforcement—PSA 2017, 2018 Regulations and TPR Code

The legislative framework The Pension Schemes Act 2017 The Pension Schemes Act 2017 (PSA 2017) is designed to strengthen safeguards for members of master trusts by tightening oversight of master trusts and addressing risk areas inherent in the master trust model when set beside other occupational pension schemes (such as profit-driven objectives, large cohorts of disengaged savers, and the potential jeopardy to pension pots if a master trust collapses). In summary, from 1 October 2018: master trusts must secure authorisation from the Pensions Regulator to operate as a master trust (with existing master trusts given until 31 March 2019 to submit an authorisation application, subject to any extension of the deadline granted by the Pensions Regulator). Five conditions must be met before the Pensions Regulator will grant authorisation—see: Authorisation criteria, below the Pensions Regulator has responsibility for the ongoing supervision of master trusts—see: Ongoing supervision and The Pensions Regulator’s proposed approach to supervision and enforcement, below master trusts must identify and manage ‘triggering...

Read More Right Arrow
PRACTICE NOTES
Employment litigation in the High Court and County Court: jurisdiction, tribunal overlap, restrictive covenants, torts, judicial review, CPR procedure, time limits and costs (England and Wales)

This Practice Note This Practice Note explores employment-related claims that can or must be pursued in the High Court or the County Court. It supplies a very high-level outline of the procedures governing such claims in those courts under the Civil Procedure Rules 1998 (CPR), and directs readers to further materials within the Dispute Resolution module that deliver a complete, in-depth guide to civil procedure. It also addresses: handling overlapping employment tribunal and civil court proceedings; claims concerning post-termination restraints (restrictive covenants); tort-based claims (e.g. personal injury, negligence, and workplace stress); deciding the appropriate court for the claim; judicial review; and civil court time limits, including extensions of time and how the limitation period is determined. It then provides a synopsis of the principal procedural stages of a civil court claim: pre-action requirements including the Practice Direction Pre-Action Conduct and Protocols, adherence to pre-action protocols, pre-action conduct where no protocol applies, commencing a claim, the defendant’s steps once particulars of claim are served, case management, track allocation and directions...

Read More Right Arrow
PRACTICE NOTES
Defamation and Malicious Falsehood Limitation (England and Wales): accrual and one-year period, extensions (disability, concealment, s32A), single publication rule (s8), and post‑limitation amendments/parties (CPR 17/19)

The ordinary time limit for defamation and malicious falsehood claims A claimant has one year to issue a defamation claim from the point when the cause of action arises, namely the date the defamatory statement is first made public (section 4A of the Limitation Act 1980 (LA 1980), inserted by section 5 of the Defamation Act 1996). The Court of Appeal in Siniakovich v Hassan-Soudey confirmed that a claim is treated as ‘brought’ on the day the claim form is first delivered to the court office, even if the office properly declines to issue it because the whole of the appropriate fee has not been paid. For libel, the claimant’s ignorance of any publication at the time is irrelevant to accrual, and so does not postpone the start of the limitation period applicable to their claim. In most varieties of slander and malicious falsehood, however, the cause of action accrues when the claimant suffers pecuniary loss, meaning the limitation period may not track the date of first publication. In...

Read More Right Arrow

View the related Q&As about Extension fee

Q&As
Representative of an Overseas Business: Is a Holding Company a Genuine Commercial Enterprise for Entry Clearance?

Practice Note: Applying under the Representative of an Overseas Business category Please see Practice Note: Applying under the Representative of an Overseas Business category, which sets out the eligibility criteria and process (including application form and fee details) for submitting an initial application or seeking an extension under the UK immigration route for Representatives of an Overseas Business. The note explains the eligibility criteria for Sole Representatives of an Overseas Business...

Read More Right Arrow