LexisNexis Practical Guidance®
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Representations, covenants and events of default in acquisition finance

This guidance note discusses:

  • the purpose of and typical representations in a leveraged senior facilities agreement and how these differ from those in an investment grade facility agreement;
  • common ways for the sponsor to attempt to limit the scope of the representations;
  • when representations are typically given;
  • the purpose of and typical information undertakings in a leveraged senior facilities agreement;
  • the purpose of typical general undertakings in a leveraged senior facilities agreement;
  • the use of “baskets” to provide flexibility under the general undertakings; and
  • the purpose of and typical events of default.

See Representations, covenants and events of default in acquisition finance.