Examples of UK Loan Agreement in a sentence
The UK Loan Agreement anticipates that a number of draw downs may occur, but this drafting assumes either a single draw down or that there are conditions precedent to first draw down.
This is intended to confirm compliance of the UK Loan Agreement with the Agreed Guidelines, but it should be noted that merely because the statement was made does not mean that the parties did actually negotiate in accordance with the Agreed Guidelines.
However, any failure to do this will not impact on TIF's and Iceland's obligations under the UK Loan Agreement.
First, it means that TIF and Iceland are not able to recover damages from HM Treasury and FSCS if they breach the terms of the UK Loan Agreement or UK Settlement Agreement (and note that this cuts across the provisions of clauses 7.1 and 7.3 of the UK Settlement Agreement which allow claims where there is bad faith).
Therefore the Committee should consider whether any disclosures need to be made on the UK Loan Agreement or the Dutch Loan Agreement before they come into force, with a view to requesting waivers to avoid the British and Dutch Government immediately foreclosing on Iceland.