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THE ISSUE OF COVENANTS IN LMA FACILITY AGREEMENTS
Marcin LORENC1
Język publikacji: angielski
Artykuł w czasopiśmie
Transformacje Nr 4 (119) 2023, Data publikacji: 29 grudnia 2023r.
Słowa kluczowe: covenants, facility agreement, commitments, security, financing, LMA, ESG, freedom of contract
Streszczenie The article describes the phenomenon of the problem of covenants in credit contracts and how they are perceived. The author focused on the possibility of trans-formation of covenants through the fundamentals of covenants, which is definitely freedom of contract. Covenants can transform all the time, of which ESG covenants are the best example. From the description of the subject, the author characterizes the phenomenon of the covenant problem under Polish law, although the word "covenant" does not have its legal definition in Polish legal acts. The author used the hermeneutic method and the method of analysis and synthesis in its analyses.
School of Law, Kozminski University, Warsaw, Poland
ORCID: 0009-0009-4849-8382
E-mail: marcin.piotr.lorenc@wp.pl