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CM Advocates > Standstill Agreement-Complex

Standstill Agreement-Complex

A Standstill Agreement refers to forms of arrangements in which a Company may enter into in order to delay an action which might otherwise take place e.g. extend or suspend a contractual limitation period to enable restructuring of debts between financial institutions and debtors amongst others.
This Standstill Agreement is tailored to cater for a complex structure with multiple lenders and a coordinating bank. It may be modified or amended to address specific needs of the parties involved.

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Standstill Agreement-Complex

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Table of Contents

  1. DEFINITIONS AND INTERPRETATION
  2. TERMINATION POINT
  3. OBLIGATIONS OF THE DEBTOR’S GROUP DURING THE STANDSTILL PERIOD
  4. OBLIGATIONS OF LENDERS DURING THE STANDSTILL PERIOD
  5. PRIORITY FOR NEW MONIES OTHER THAN THROUGH OVERDRAFT FACILITIES
  6. PRIORITY FOR NEW MONIES: OVERDRAFT FACILITIES
  7. APPLICATION OF REDUCTIONS IN OVERDRAFT FACILITY BALANCES DURING THE STANDSTILL PERIOD
  8. COORDINATING BANK
  9. NO RELIANCE
  10. NO WAIVER
  11. ASSIGNMENT AND OTHER DEALINGS
  12. GOVERNING LAW
  13. DISPUTE RESOLUTION
  14. FORCE MAJEURE
  15. AMENDMENTS
  16. EXCLUSION OF PARTNERSHIP/AGENCY
  17. ENTIRE AGREEMENT
  18. NOTICES
  19. SEVERABILITY
  20. AUTHORITY TO EXECUTE
  21. SURVIVAL
  22. NON-EXCLUSIVITY
  23. CONCLUSIVE EVIDENCE
  24. COSTS
  25. COUNTERPARTS
  26. GENERAL

 

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