Agent In A Facility Agreement

This interpretation was supported by a provision stating that “the obligations of the agent according to the financial documents are exclusively mechanical and administrative”. It would be incompatible with that provision to require the intermediary to take a substantive and valued decision as to the absence of a breach after the fact. Torre Asset Funding Limited vs. The Royal Bank of Scotland [2013] involved a complex structured loan to a real estate company. The claimants were junior-mezzanine lenders (B1 lenders) who did not recover the amounts due to them after the performance of the guarantee. The complaint was brought against RBS, which held a number of roles within the structure, including agent for B1 lenders (the “Agent”) and lenders at the junior mezzanine level (Lender B2). .