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Standstill Agreement

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A standstill Agreement is an agreement to maintain the present state of affairs, especially one made between two countries in which a debt owed by one to the other is held in abeyance for a specified period.

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Table of Content:

A standstill Agreement is an agreement to maintain the present state of affairs, especially one made between two countries in which a debt owed by one to the other is held in abeyance for a specified period.

This document touches on the following areas:

  1. Interpretation
  2. Termination Point
  3. Obligations of the Debtor’s Group during the Standstill Period
  4. Obligations of Lenders during the Standstill Period
  5. Priority for New Monies other than through Overdraft Facilities
  6. Priority for New Monies: Overdraft Facilities
  7. Application of reductions in Overdraft Facility balances during the Standstill Period
  8. Coordinating Bank
  9. No reliance
  10. No waiver
  11. Assignment and other dealings
  12. Entire agreement
  13. Variation
  14. Notices
  15. Counterparts
  16. Dispute Resolution
  17. Governing law

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CM Advocates LLP Mombasa Branch is one of the leading firms in the Coastal Region founded in 2016 with a satellite office at Ukunda, Diani.

We aspires to be the premier legal, company secretarial and business advisory firm in Kenya and within the East Africa by providing our clients the best solutions for their legal and business advisory needs and a world-class client experience.

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