Market flex meaning

In this issue: Key developments UK immigration control: how it works Sponsored work Work sponsorship: sponsors Business, investment, and non-sponsored work Students EU law rights and EU Settlement Scheme Challenging immigration decisions and enforcement Daily and weekly news alerts New and updated content Key developments Future developments—Immigration calendar Please note that our Immigration calendar highlights key upcoming developments of relevance to business immigration advisers. UK immigration control: how it works Immigration (Exemption from Control) (Amendment) Order 2025 The Immigration (Exemption from Control) (Amendment) Order 2025, SI 2025/663, revises the Immigration (Exemption from Control) Order 1972, SI 1972/1613, by introducing further specified classes of person—namely qualifying employees of the Taipei Representative Office and their family members. Under SI 1972/1613, art 4, specified classes are excused from provisions of the Immigration Act 1971 that apply to those who are not British citizens, save for provisions relating to deportation. The Order comes into...

Short-duration storage—market and regulatory developments The Roadmap sets out a blueprint to expand short-duration flexibility across the energy system, blending active consumer involvement with focused network investment. Central to the consumer side is the Marketwide Half-Hourly Settlement (MHHS) programme, unlocking dynamic, time-of-use tariffs and enabling innovative retail offerings that mirror real-time system conditions; Ofgem envisages delivery by 2030 at the latest. Complementary retail reforms aim to deliver tariff transparency, boost uptake of flexible appliances via smart functionality standards, and strip out disincentives, in the form of final consumption levies, on electricity exported from domestic storage and electric vehicles (EVs). Under today’s arrangements, these levies are charged on electricity drawn into home and EV batteries and are not reimbursed when that power is sent back into the grid, thereby discouraging participation in consumer-led flexibility (CLF). By 2050, EVs are expected to supply the majority of CLF capacity, supported by the widespread rollout of bidirectional (V2X) charging and digital tools. A secure, accessible flexibility market will rest on smart meters, robust...

What is a 'market flex' provision? A market flex clause grants arrangers and underwriters limited leeway to adjust financing terms after the relevant facility agreement has been signed. As they arrange and underwrite the transaction, these provisions help them distribute the debt to the market and cut their exposure to the borrower to an agreed minimum hold level. Typical wording allows the arrangers or underwriters to alter certain key aspects of the financing to make it more appealing to potential lenders, particularly in more difficult or volatile market conditions. It is usually addressed in the mandate letter or the arrangement/underwriting fee letter. For more information on mandate letters, see Practice Note: Mandate letters. For more on the role of arrangers and underwriters in loan transactions, see Practice Note: The finance parties. When can market flex be used? These provisions can be used by the arrangers or underwriters before or after the facility documentation is signed. What can be flexed?...

Public M&A deals H1 2013—UK—Market Standards Trend Report [Archived] ARCHIVED: Published in 2013, this content is not currently maintained. The report explores prevailing market trends with regard to...

A core tenet of the City Code on Takeovers and Mergers (the Code) is that an offeror should declare a firm intention to make an offer only after thorough and responsible deliberation, and only where it has strong grounds to believe it can, and will continue to, implement the offer, including ensuring it can fulfil in full any cash consideration (the ‘certain funds’ or ‘certainty of funds’ concept). Under Rules 2.7(d) and 24.8, if an offer is made in cash or contains a cash element, both the announcement and the offer document must include confirmation from an appropriate third party—usually the offeror’s financial adviser—that resources are available to the offeror sufficient to satisfy full acceptance of the offer (a ‘cash confirmation’). This Practice Note reviews the certain funds principle and the related cash confirmation obligations in the Code, and considers a range of issues for the offeror and its financial adviser when addressing these requirements and other matters relevant to bid financing arrangements, including financing conditions and pre-conditions,...