Jurisdiction(s):
United Kingdom

LLP finance: plug-in clauses and drafting guidance for facility agreements, real property mortgages and debentures (English law)

Published by a LexisNexis Banking & Finance expert

Precedents

Introduction

What does this Precedent cover?

This Precedent provides:

replacement plug-in clauses for an English limited liability partnership (LLP), drafted for inclusion in the Precedent: Facility agreement (term loan): single company borrower—bilateral—with or without security or a guarantee;
alternative plug-in clauses for an LLP prepared for the Precedent: Real property mortgage: single company chargor—bilateral—specific monies; and
further points to consider when modifying those precedents for LLP use.

When inserting substitute wording or making other amendments to the precedents, ensure the remaining provisions, and any relevant facts and commercial drivers of the underlying deal, are reviewed carefully. These clauses can also be adapted for other facility agreements and security documents, but a thorough assessment of all clauses is essential when tailoring or revising them. For more on working with limited liability partnerships in finance transactions, see the Practice Note: Dealing with limited liability partnerships in a finance transaction—investigating capacity and authority. This Precedent addresses English law matters only.

General considerations

When adapting a loan agreement or security document precedent designed for a company...

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Web page updated on 22/05/2026

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