Jurisdiction(s):
United Kingdom

Key definition

Fees definition

What does Fees mean? In legal practice, Fees are the sums payable by one party to another for goods, services or rights under a contract, together with any agreed charges or other amounts. The term is descriptive rather than statutory; while specific legislation prescribes particular court or registry fees in England & Wales, Scotland, Northern Ireland and Ireland, in private agreements Fees is a contract-defined term. Usage is broadly consistent across these jurisdictions. Key features in contracts include whether Fees cover one-off, periodic, retainer or success-based payments; whether expenses/disbursements are included or separate; whether VAT/sales taxes are excluded or included; timing and invoicing; indexation;...

Czech Republic cross-border banking and finance: COVID-19, lending authorisations and tax, security and guarantees, enforcement and intercreditor issues, and English law and judgment recognition post-Brexit

Published by a LexisNexis Banking & Finance expert

Practice notes

Coronavirus (COVID-19): Existing financings/utilised debt

Do finance documents in your jurisdiction generally provide lenders with termination rights in a crisis? If so, are standard material adverse effect (MAC) clauses enforceable in that context? Yes. Beyond LMA-based templates, Czech banks frequently embed MAC-related termination rights either in loan agreements or within their general terms and conditions (GTCs), empowering the lender to terminate unilaterally, cancel commitments, or vary Fees and/or interest rates, together with reimbursement of any additional Costs. Typically, MAC wording covers, among other items, a failure by the borrower to perform obligations under the finance documents, a deterioration in the borrower’s financial condition or the value of the security provided, or an inability of the lender to exercise rights and pursue claims arising from the finance documents. Any termination must not be baseless, and the present epidemic does not, of itself, amount to a material adverse effect; accordingly, lenders should act prudently and obtain legal advice when setting out the justification for a MAC-triggered termination. Careful articulation of the grounds is therefore essential...

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Web page updated on 21/05/2026

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