Jurisdiction(s):
United Kingdom

Key definition

Facility agent definition

What does Facility agent mean? In syndicated lending, a facility agent is the finance party (usually a bank) appointed under the syndicated loan agreement to administer the facility for all lenders. Also called the administrative agent, it is a descriptive, market term (common in LMA-based documents) and is defined in the contract rather than by legislation or case law. Acting on lenders’ instructions, the facility agent is the central point of contact: coordinating notices and consents; checking satisfaction of conditions precedent from delivered documents; arranging utilisations, interest period selections and rollovers; calculating and notifying interest, fees and break costs; operating accounts; and receiving and distributing...

Facility Agent in LMA Syndicated Loans: Roles, Duties, Rights, Protections, Erroneous Payments, Appointment, Resignation and Impaired Agent Provisions

Published by a LexisNexis Banking & Finance expert

Practice notes

This Practice Note outlines the functions and obligations of the facility agent in a syndicated loan, identified in the Loan Market Association (LMA) documentation simply as the ‘Agent’, with reference to provisions contained in the LMA’s investment grade and leveraged facilities agreements. It also reviews the rights of the facility agent and the measures it may adopt to protect itself and exclude liability whilst carrying out its role. In addition, it considers the procedures for appointing a facility agent and the process for its resignation...

What is a facility agent?

A facility agent is a central party in a syndicated loan transaction. In essence, it represents the lenders under the facility agreement and functions as a ‘post box’ between the various participants. Its responsibilities are administrative, overseeing communication and the movement of funds between the lenders and the borrower. Given the importance of this role in a syndicated arrangement, the facility documentation must set out the parameters of its responsibilities and duties with precision...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...