Standstill/Reference date (starting point) | |
Identities of the parties involved | |
How the exposure to the borrower is calculated | |
Term of the agreement (run off date) | |
Voting rights | |
New money clauses | |
Loss sharing | |
Control of the cash | |
Events of default | |
Establishment of the cash sweep from operational cash flow, asset sales, insurance proceeds & capital market proceeds (for excess cash to repay signatories) | |
Control over capital expenditures, investments, and giving of loans / guarantees | |
No calling an event of default or initiating insolvency proceedings | |
Steering committee | |
Appointment of the monitoring agent | |
Taking of security / giving up negative pledge | |
Milestones on financial information, projections, asset sales and company actions etc. | |
Co-operation with professional advisors | |
Approval public and media announcements | |
Restriction of distributions and related party transactions | |
Consent required to assign / transfer | |