In this short video, Bridget Marsh, LSTA’s EVP and Deputy General Counsel, highlights issues that may arise when drafting the form which is then attached as an exhibit to the applicable credit agreement and explains other issues which may arise when completing the form as an assignor/assignee. Importantly, the LSTA’s Form of Assignment Agreement has been drafted so that parties need not tailor the agreement depending on the identity of each assignee. In this way, electronic settlement platforms do not need to create “pop-ups”, ie, questions which appear or “pop-up” on the screen of the person completing the assignment agreement and which must be answered before the assignment agreement can be populated and finalised. By avoiding “pop-ups”, the loan market can operate more efficiently, for trades will be able to settle more promptly. Please contact Bridget Marsh to submit ideas for future podcasts.
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.