Jurisdiction(s):
United Kingdom
United Kingdom
Key definition
Most favoured nation definition What does Most favoured nation mean? In loan documentation, a most favoured nation (MFN) clause protects existing lenders by ensuring that any later‑incurred additional debt is not priced materially higher than the existing facilities unless the existing pricing steps up to preserve an agreed differential. It typically applies to incremental/accordion facilities or similar additional pari passu term debt. If the new debt would exceed the agreed margin or all‑in yield cap, the existing term debt margin (or yield) increases to maintain the cap. MFN is a market expression rather than a statutory or case‑law definition and is used consistently in leveraged finance documentation governed...
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Competition law compliance in sales and marketing: practical guidance on competitor contact, vertical agreements (distribution, agency, MFN), customer negotiations and trade associations
Published by a
LexisNexis Risk & Compliance expert
Precedents
Interactions with competitors, negotiations with customers, or collecting market intelligence can carry a significant risk of competition law breaches, and the line between proper and improper contact can be easily crossed. As simply receiving certain information may amount to anti-competitive conduct, you should never discuss confidential strategic matters with competitors or customers. This guide sets out key points for sales and marketing teams to help you recognise competition law issues and respond appropriately
1 Contact with competitors
This section sets out straightforward dos and do nots when you are in contact with competitors.
Do
- Leave any meeting where others move into improper discussions, and ensure your exit is recorded.
- Seek advice from [ insert, eg the legal team ] before discussing with a competitor or entering:
- joint venture agreements;
- cooperation agreements, eg R&D, sales, promotions, marketing, etc;
- shareholder and alliance agreements;
- agenda, minutes and contacts with trade associations;
- any contact between competitors relating to commercial strategy where this is not publicly available.
- Report any competition law compliance concerns to [ insert, eg the legal team ]...
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Web page updated on 22/05/2026
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