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Loan Market Legal & Documentation

Standardizing loan documentation is a core function of the LSTA. Our suite of primary and secondary loan market documents is consistently updated and augmented each year. Timely market advisories offer guidance and help resolve market issues.

Standard Docs

Displaying 1-17 of 17 results.
DateTitle/DescriptionFiles
Mar 1, 2019

Form of Agreement Among Lenders (AAL)

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Jan 28, 2019

LMA Recommended Form of Bail-In Clause and Users Guide

The LMA has allowed us to post the LMA Form of Contractual Recognition Clause and related LMA User’s Guide on our website.  No Charge. Call (212) 880-3000 to inquire about receiving this document.

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Oct 16, 2018

Model Credit Agreement Provisions for Investment Grade Revolving Credit Financings

This form includes select provisions (eg, tax, yield protection, agency, and assignment provisions, etc) to be included in a New York Law governed credit agreement. Non-Member Price is $5,000. Call (212) 880-3000 to inquire about purchase.

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May 31, 2018

Administrative Details Form ("ADF")

This is the form used by administrative agents when a lender joins the syndicate and must provide the agent with its contact details, wiring instructions, etc.  Non-Member Price is $1,000. Call (212) 880-3000 to inquire about purchase.

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May 11, 2018

Certification Regarding Beneficial Owners of Legal Entity Customers

This form of certification has been tailored for syndicated loan transactions and requests the information which covered financial institutions are required to obtain under FinCEN’s customer due diligence rules from legal entity customers about certain of their beneficial owners.

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Apr 2, 2018

LSTA Form of Incremental Facility Amendment to Credit Agreement

This form contemplates the creation of a new tranche of loans or an increase in an existing tranche. It sets out the conditions precedent to the funding of the new loans and is executed by the borrower, administrative agent, guarantors, and lenders that will provide the new loans.

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Oct 19, 2017

Form of Credit Agreement

This is a form of revolving credit facility for investment grade borrowers.  Non-Member Price is $7,500. Call (212) 880-3000 to inquire about purchase.

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Oct 17, 2017

Standard Form of Fronting Letter Agreement

This form sets out the terms upon which the lead arranger sells to the co-arrangers their pro rata share of any late settling primary trades.  Non-Member Price is $2,000. Call (212) 880-3000 to inquire about purchase.

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Jan 8, 2016

Model Credit Agreement Provisions for Latin American Cross-Border Transactions

This form includes select provisions of a New York law governed credit agreement (eg, tax, yield protection, agency, and assignment provisions, etc) for loans made to borrowers in any of Peru, Chile, or Colombia.  Non-Member Price is $2,500. Call (212) 880-3000 to inquire about purchase.

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Dec 22, 2015

LSTA and LMA Joint EU Bail-In Statement December 2015

This is the 2015 Joint Statement published by the LSTA and LMA relating to the release of each Association’s Form of Contractual Recognition Provision.  Non-Member Price is $1,000. Call (212) 880-3000 to inquire about purchase.

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Dec 22, 2015

LSTA Form of Contractual Recognition Provision

This provision addresses Europe’s bail-in rule, and parties may choose to include this provision in their primary loan market documents where appropriate.  Non-Member Price is $1,000. Call (212) 880-3000 to inquire about purchase.

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Aug 8, 2014

Model Credit Agreement Provisions

This form includes select provisions of a New York law governed credit agreement (eg, tax, yield protection, agency, assignment, defaulting lender, and disqualified institution provisions, etc) and are suitable primarily for leveraged finance transactions.  Non-Member Price is $5,000. Call (212) 880-3000 to inquire.

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Aug 8, 2014

Form of Assignment Agreement

This is a form of assignment agreement (which is typically attached as an exhibit to a credit agreement) which can then be used to transfer a loan from assignor to assignee.  Included in Model Credit Agreement Provisions.  No Charge. Call (212) 880-3000 to inquire about receiving this document.

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Aug 8, 2014

Cashless Roll Letter Agreement

This agreement may be used for cashless rollover transactions which  involve the replacement of existing loans with allocated loans without an actual funding of the new, allocated loans or the repayment in cash of the existing loans.  Non-Member Price is $2,000. Call (212) 880-3000 to inquire about purchase.

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Aug 8, 2014

DQ Structure Memo

This memo explains the details of the LSTA’s disqualified institution structure included in the LSTA Model Credit Agreement Provisions.  Members Only.

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May 5, 2005

Institutional Allocation Confirmation Letter

This form can be used for loan allocations in the primary market.  Non-Member Price is $1,000. Call (212) 880-3000 to inquire about purchase.

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May 19, 2003

Guidance Note and Confidentiality Legends for Distribution of Bank Books

Non-Member Price is $1,000. Call (212) 880-3000 to inquire about purchase.

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Market Advisories

Displaying 1-8 of 8 results.
DateTitle/DescriptionFiles
Oct 10, 2018

Divisons by Delaware LLCs

This Advisory explains the amendment to the Delaware Limited Liability Act, which allows any Delaware limited liability company to divide into two or more limited liability companies pursuant to a plan of division, explains how it could impact credit agreements, and sets out draft credit agreement language. Members Only.

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Aug 10, 2018

New ERISA Representations for LSTA MCAPs

This Advisory replaces the guidance contained in the LSTA's September 2017 advisory on ERISA representations required under the Department of Labor (DOL)'s 2016 Fiduciary Rule.  Members Only

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May 11, 2018

FinCen's Customer Due Diligence Rule - Certification Regarding Beneficial Owners of Legal Entity Customers

This form of certification has been tailored for syndicated loan transactions and requests the information which covered financial institutions are required to obtain under FinCEN’s customer due diligence rules from legal entity customers about certain of their beneficial owners.

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Aug 7, 2017

Pro Rata Provisions in Credit Agreements

This Advisory highlights how pro rata provisions in a credit agreement may typically be modified.  Members Only

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Sep 22, 2015

Bail-in Rule Advisory

This Advisory sets out the LSTA’s initial analysis of the potential implications for U.S. loan documentation of the European "bail-in" rules that took effect in 2016.  Members Only

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Feb 20, 2015

Disqualified Institutions/DQ Lists

This Advisory explains the details of the LSTA’s disqualified institution structure included in the LSTA Model Credit Agreement Provisions.  Members Only

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Aug 23, 2013

No Assignment to Natural Persons

This Advisory addresses the prohibition on the assignment of loans to natural persons.  Available to Non-Members. Call (212) 880-3000 to inquire about receiving this document.

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Feb 15, 2013

Swap Regulations’ Implications for Loan Documentation

This Advisory addresses the implications for loan documentation raised by 2013 regulatory activity relating to the term "swap" and establishing that the guarantee of a swap is itself a "swap.  Members Only.

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Guidelines & Memos

Displaying 1-16 of 16 results.
DateTitle/DescriptionFiles
Mar 7, 2019

US Sanctions Issues in Lending Transactions

Call LSTA @ (212) 880-3000 to inquire about this document.

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Oct 22, 2018

Know Your Customer Considerations for Syndicated Lending and Loans ("KYC Guidelines")

Call LSTA @ (212) 880-3000 to inquire about this document.

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Apr 2, 2018

Blockchain and Distributed Ledger Technology: An Analysis of its Impact on the Syndicated Loan Market

Part Three: Application of Blockchain Technology to the Loan Market.  Members Only

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Mar 1, 2018

Blockchain and Distributed Ledger Technology: An Analysis of its Impact on the Syndicated Loan Market

Part Two: Smart Contracts.  Members Only

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Feb 1, 2018

Blockchain and Distributed Ledger Technology: An Analysis of its Impact on the Syndicated Loan Market

Part One: General Considerations and Blockchain Primer.  Members Only

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Nov 16, 2017

LSTA Code of Conduct

Available to Non-Members. Call (212) 880-3000 to inquire about receiving this document.

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Nov 16, 2017

LSTA Confidentiality Principles

Non-member price is $5,000.  Call LSTA @ (212) 880-3000 to inquire about this document.

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Feb 6, 2017

Anti-Corruption Issues in Lending Transactions

Call LSTA @ (212) 880-3000 to inquire about this document.

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Dec 19, 2014

Market Standards for Flood Insurance Processes in Syndicated Lending

Non-Member Price is $2,500. Call (212) 880-3000 to inquire about purchase.

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Jun 6, 2008

Memo - Assessing Counterparty Credit Risk

Members Only.

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Oct 1, 2007

User's Guide to the Physical Settlement Rider for Syndicated Secured Loan Credit Defaults Swaps

Non-Member Price is $2,500. Call (212) 880-3000 to inquire about purchase.

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May 22, 2006

Agency Splash Page Principles

Members Only.

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May 18, 2005

Primary Market and Agent Transfer Practices

Members Only.

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May 19, 2003

Guidance Note and Confidentiality Legends for Distribution of Bank Books

Members Only.

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Apr 21, 2003

Standard Amendment Procedures

Non-Member Price is $1,000

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May 25, 2001

Memo re: Regulation FD

Members Only.

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Drafts

Displaying 1-1 of 1 result.
DateTitle/DescriptionFiles
Jan 4, 2019

Form of LSTA Leveraged Credit Facilities Term Sheet

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Blacklined Documents

Displaying 1-5 of 5 results.
DateTitle/DescriptionFiles
Mar 7, 2019

US Sanctions Issues in Lending Transactions

Blacklined against the US Sanctions document dated August 1, 2018

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Mar 1, 2019

Form of Agreement Among Lenders (AAL)

Against the Exposure Draft dtd January 30, 2019

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Oct 10, 2018

Divisons by Delaware LLCs

Blacklined against the draft dtd September 28, 2018

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Aug 10, 2018

Blacklined - New ERISA Representations for LSTA MCAPs

Against the draft dtd July 13, 2018

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May 11, 2018

Revisions of LSTA's Form of Revolving Credit Facility

Certain revisions to the LSTA's Form of Revolving Credit Facility which address this issue (for example, the conditions precedent have been expanded to reference this and a covenant has also been included which requires the borrower to deliver the certificate).

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