the authoritative voice of the EMEA market

Secondary Debt Trading

Name of DocumentFormatsDate RevisedMarkup
LMA Grantor Credit Risk PaperPDF09/10/2017N/A
ERISA Introduction and Explanation of Recent ChangesPDF25/09/2017N/A
LMA Explanatory Note relating to Proceeds LetterPDF03/03/2014PDF
FATCA riders for LMA secondary debt trading documentation - HISTORICPDF03/03/2014N/A
LMA Pricing Panel Rules - HISTORICPDF03/03/2014PDF
Name of DocumentFormatsDate RevisedMarkup
LMA Standard Terms and Conditions for Par & Distressed Trade Transactions (Bank Debt/Claims)PDF27/06/2017PDF
LMA Standard Terms & Conditions for Par & Distressed Trade Transactions (Bank Debt/Claims)PDF20/04/2016PDF
LMA Standard Terms & Conditions for Par & Distressed Trade Transactions (Bank Debt/Claims)PDF16/12/2015N/A
LMA Standard Terms & Conditions for Par & Distressed Trade Transactions (Bank Debt/Claims)PDF17/02/2015N/A
LMA Standard Terms & Conditions for Par & Distressed Trade Transactions (Bank/Debt Claims)PDF03/03/2014N/A
LMA Standard Terms and Conditions for Par and Distressed Trade Transactions (Bank/Debt Claims)PDF14/05/2012N/A
LMA Standard Terms & Conditions for Par & Distressed Trade Transactions (Bank/Debt Claims)PDF27/06/2011N/A
LMA Standard Terms & Conditions for Par & Distressed Trade Transactions (Bank Debt/ClaimsPDF24/03/2011N/A
LMA Standard Terms & Conditions for Par & Distressed Trade Transactions (Bank Debt/Claims)PDF25/01/2010N/A
Par Terms and Conditions January 2009PDF05/01/2009N/A
Distressed Terms and Conditions January 2009PDF05/01/2009N/A
Par Standard Terms and Conditions published as at 24 December 2008 (applicable to a Trade Date on or after 3 September 2008)PDF03/09/2008N/A
Distressed Standard Terms and Conditions published as at 24 December 2008 (revision date of 1 February 2008)PDF01/02/2008N/A
LMA Par Terms and Conditions December 2007PDF21/12/2007N/A
LMA Par Terms & ConditionsPDF02/05/2006N/A
LMA Par Terms & Conditions - includes competition rubricPDF02/05/2006N/A
LMA Distressed Terms & Conditions Oct '05PDF03/10/2005N/A
LMA Distressed Terms & Conditions Oct '05 - includes competition rubricPDF03/10/2005N/A
LMA Par Terms & ConditionsPDF15/09/2005N/A
LMA Par Terms & ConditionsPDF02/01/2003N/A
LMA Par Terms & Conditions - includes competition rubricPDF02/01/2003N/A
LMA Distressed Terms & Conditions Oct '01PDF01/10/2001N/A
LMA Par Terms & ConditionsPDF26/04/2001N/A
LMA Distressed Terms & Conditions Apr '01PDF02/04/2001N/A
Name of DocumentFormatsDate RevisedMarkup
LMA Secondary Trading Documentation User GuidePDF20/04/2016PDF
Secondary Trading Documentation User GuidePDF17/02/2015PDF
LMA Funded Participation (Par/Distressed)PDF02/12/2014PDF
LMA Risk Participation (Par)PDF02/12/2014PDF
LMA Master Risk Participation Agreement (Par)PDF02/12/2014PDF
LMA Funded Participation (Distressed/Claims)PDF02/12/2014PDF
LMA Funded/Risk Participation (Par)PDF02/12/2014PDF
LMA Master Funded Participation Agreement (Par/Distressed)PDF02/12/2014PDF
LMA Trade Confirmation (Bank Debt)PDF03/03/2014PDF
LMA Trade Confirmation (Claims)PDF14/05/2012PDF
LMA Trade Confirmation (Risk Participation)PDF14/05/2012PDF
LMA Trade Confirmation (Claims)PDF27/06/2011PDF
LMA Secondary Trading Documentation User GuidePDF27/06/2011PDF
LMA Trade Confirmation (Bank Debt)PDF24/03/2011PDF
LMA Trade Confirmation (Risk Participation)PDF24/03/2011PDF
LMA Multilateral Termination & Transfer Agreement (Novation)PDF30/06/2010PDF
LMA Funded Participation (Par/Distressed)PDF04/04/2010PDFPDF
LMA Assignment (Bank Debt)PDF04/01/2010PDFPDF
LMA Assignment (Distressed/Claims)PDF04/01/2010PDF
LMA Master Funded Participation Agreement (Par/Distressed)PDF04/01/2010PDF
LMA Master Risk Participation Agreement (Par)PDF04/01/2010PDF
LMA Risk Participation (Par)PDF04/01/2010PDF
LMA Funded/Risk Participation (Par)PDF04/01/2010PDF
LMA Risk to Funded Participation (Par)PDF04/01/2010PDF
LMA Confidentiality Letter (Seller)PDF04/01/2010PDF
LMA Confidentiality Letter (Purchaser)PDF04/01/2010PDF
LMA Confidentiality Letter (Seller's Agent/Broker)PDF04/01/2010PDF
LMA Confidentiality Letter (Purchaser's Agent/Broker)PDF04/01/2010PDF
LMA Master Confidentiality Undertaking for Admin/Settlement Service ProvidersPDF04/01/2010PDF

> Guidance

Name of DocumentFormatsDate RevisedMarkup
LMA Secondary Trading Documentation User GuidePDF25/09/2017PDF
Issues To Be Considered Prior To/Immediately After A TradePDF15/08/2017N/A
LMA Guidance Note - LMA Recommended forms of Secondary Debt Trading DocumentationPDF03/02/2011N/A

> Core Trade Documentation

Name of DocumentFormatsDate RevisedMarkup
LMA Standard Terms and Conditions for Par and Distressed Trade Transactions (Bank Debt/Claims)PDF25/09/2017PDF
LMA Master Funded Participation Agreement (Par/Distressed)Word25/09/2017PDF
LMA Master Risk Participation Agreement (Par)Word25/09/2017PDF
LMA Funded Participation (Distressed/Claims)Word25/09/2017PDF
LMA Funded Participation (Par/Distressed)Word25/09/2017PDF
LMA Risk Participation (Par)Word25/09/2017PDF
LMA Funded/Risk Participation (Par)Word25/09/2017PDF
LMA Risk to Funded Participation (Par)Word25/09/2017PDF
LMA Trade Confirmation (Bank Debt)Word16/12/2015PDF
LMA Trade Confirmation (Claims)Word16/12/2015PDF
LMA Trade Confirmation (Risk Participation)Word16/12/2015PDF
LMA Form of Early Termination Amount Statement for Par & Distressed Trade TransactionsWord17/02/2015PDF
LMA Buy-In/Sell-Out NoticeWord03/03/2014PDF
LMA Purchase Price NoticeWord03/03/2014PDF
LMA Price Dispute Notice - HISTORICWord03/03/2014PDF
LMA Assignment (Bank Debt)Word24/03/2011PDF
LMA Assignment (Distressed/Claims)Word24/03/2011PDF
LMA Transfer Agreement (Bank Debt)Word04/01/2010PDFPDF
LMA Termination Notice (Par & Distressed)Word04/01/2010N/A

> Termination Agreements

Name of DocumentFormatsDate RevisedMarkup
LMA Multilateral Termination & Transfer Agreement (Novation)Word03/03/2014PDF
LMA Bilateral Termination and Transfer AgreementWord14/05/2012PDF
LMA Termination AgreementWord14/05/2012PDF

> Confidentiality

Name of DocumentFormatsDate RevisedMarkup
LMA Master Confidentiality Undertaking for Admin / Settlement Service ProvidersWord12/11/2014PDF
LMA Confidentiality Letter (Seller)Word24/03/2011PDF
LMA Confidentiality Letter (Purchaser)Word24/03/2011PDF
LMA Confidentiality Letter (Seller's Agent/Broker)Word24/03/2011PDF
LMA Confidentiality Letter (Purchaser's Agent/Broker)Word24/03/2011PDF
LMA Master Confidentiality UndertakingWord24/03/2011PDF

> Netting Agreements

Name of DocumentFormatsDate RevisedMarkup
LMA Multilateral Netting AgreementWord03/03/2014PDF
LMA Bilateral Netting AgreementWord03/03/2014PDF

See the 'Issues and Guidance' tab on the left-hand side for further information and guidance when using LMA documentation.

These Materials (which term includes, where the context permits, text, content, spreadsheets incorporating macros and electronic interfaces, and their underlying assumptions, conversions, formulae, algorithms, calculations and other mathematical and financial techniques) are made available to members of the Loan Market Association to facilitate the documentation of transactions in the loan markets. None of the Loan Market Association, Allen & Overy or Clifford Chance accept any responsibility for any use to which these Materials may be put or for any loss, damage or liability whatsoever arising from such use. None of the Loan Market Association, Allen & Overy or Clifford Chance has reviewed the laws of any jurisdiction which may apply to either party to an agreement using these Materials and its subject matter. Members should therefore consider all the relevant legal, accounting and regulatory issues before using these Materials or entering into a transaction under them and, if appropriate, consult their professional advisers.

In relation to recommended form documents, members are responsible for ensuring that the precise form and content of the documentation for a particular transaction is appropriate. Members should therefore satisfy themselves that the documents and any modifications to them are appropriate in the circumstances and the economic intentions of the parties.

The Loan Market Association consents to the use, reproduction and transmission of these Materials by members of the Loan Market Association only for the preparation and documentation of agreements relating to transactions or potential transactions in the loan markets. The Loan Market Association does not consent to the use, reproduction or transmission of these Materials for any other purpose, in any other manner or by any other person and expressly reserves all other rights.