Way Forward

The LMA plans to launch LMA.Automate by January 2021. The service will be available to existing LMA Members, initially for a limited, agreed free trial period and thereafter on a competitive annual subscription based on number of users.

The initial suite of documents will include:

  • Full automation of all LMA confidentiality agreements;
  • Full automation of the real estate finance suite (excluding intercreditor agreements but including any applicable riders)
  • Full automation of the investment grade suite (specifically to incorporate not only facility agreements, but also mandate letters and term sheets)
  • Incorporation of “commonly used drafting options” within the investment grade suite to include any relevant riders such as defaulting lender language and domestic benchmark slot-in schedules etc
  • Full automation of the developing markets suite of facility agreements

It is the intention to automate additional existing templates, as well as those produced as a result of LIBOR discontinuance at the end of 2021. It is also the intention to enhance the functionality of the platform over time to support its full capabilities as an automation tool.