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Obligations to provide regular financial and operational updates. начать обучение
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zobowiązania informacyjne
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The duration during which the loan agreement remains in effect. начать обучение
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audited financial statements Financial reports reviewed and verified by an independent auditor. начать обучение
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audytowane sprawozdania finansowe
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The top-level parent company in a corporate structure. начать обучение
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ostateczna spółka holdingowa
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The entity that owns shares in the Borrower. начать обучение
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The main party responsible for construction works. начать обучение
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The party leasing the property from the Borrower. начать обучение
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A commitment to try, but without a strict guarantee. начать обучение
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Approved by the party representing the lenders. начать обучение
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zaakceptowany przez Agenta
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A person legally empowered to sign documents on behalf of a company. начать обучение
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upoważniony przedstawiciel
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A standard indicating that financial statements accurately reflect the company’s financial position. начать обучение
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rzetelny i prawdziwy obraz
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Representing financial data without distortion or bias. начать обучение
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A financial statement showing assets, liabilities, and equity at a specific point in time. начать обучение
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A statement showing revenues, expenses, and profit over a period. начать обучение
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notes to financial statements Additional explanations and disclosures accompanying the main financial statements. начать обучение
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noty do sprawozdań finansowych
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generally accepted accounting principles (GAAP) Standardized accounting rules used to prepare financial statements. начать обучение
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ogólnie przyjęte zasady rachunkowości
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Applied in the same manner across reporting periods for comparability. начать обучение
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stosowane w sposób spójny
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A formal statement confirming compliance with financial covenants. начать обучение
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Clause 20 (Financial covenants) The section of the agreement setting financial performance requirements. начать обучение
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klauzula 20 (wskaźniki finansowe)
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The date on which financial covenant compliance is assessed. начать обучение
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Rental income after deducting operating costs and taxes. начать обучение
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Tax refund received or receivable by the Borrower. начать обучение
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zwrot podatku dochodowego
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authorised attorney-in-fact A person legally empowered to act on behalf of the Borrower. начать обучение
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A digital form of signature legally recognized for document authentication. начать обучение
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Legal rules defining who can sign documents on behalf of a company. начать обучение
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Official approval to use a completed building. начать обучение
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pozwolenie na użytkowanie
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A financial plan for the property’s operating expenses and revenues. начать обучение
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A schedule listing tenants, rental terms, and payments. начать обучение
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Amounts overdue and unpaid by tenants. начать обучение
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Summary of income and expenses related to property operations. начать обучение
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Official confirmation of tax compliance. начать обучение
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Social Security Office (ZUS) Polish institution managing social security contributions. начать обучение
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Zakład Ubezpieczeń Społecznych
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litigation / arbitration / administrative proceedings Legal processes involving disputes or regulatory issues. начать обучение
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postępowania sądowe / arbitrażowe / administracyjne
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promptly upon becoming aware Immediately after learning of a relevant fact or event. начать обучение
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niezwłocznie po uzyskaniu wiedzy
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A request that is justified and not excessive. начать обучение
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Approved in advance through formal written agreement. начать обучение
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uprzednio pisemnie uzgodnione
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A breach of the loan agreement, such as missed payments or covenant violations. начать обучение
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naruszenie / niewykonanie zobowiązania
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To take corrective action to fix a breach or issue. начать обучение
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A formal document confirming a specific status or condition. начать обучение
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certyfikat / zaświadczenie
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A significant deterioration in financial, legal, or operational condition. начать обучение
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A day on which banks are open for business, excluding weekends and holidays. начать обучение
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Regulatory process of verifying the identity and background of clients. начать обучение
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Concealing the origins of illegally obtained money. начать обучение
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Providing financial support to terrorist activities. начать обучение
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Legal documents defining the company’s structure and representation rules. начать обучение
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Legal and corporate capacity to enter into and perform agreements. E.g., The Borrower has the power and authority to sign the loan agreement. начать обучение
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uprawnienia i kompetencje
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The transaction does not breach internal or legal limits. E.g., The borrowing does not exceed corporate powers. начать обучение
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brak przekroczenia uprawnień
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Required approvals or permits. E.g., Board resolutions, licenses, or regulatory consents. начать обучение
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Legally acceptable in court. E.g., The agreement is admissible in evidence in Poland. начать обучение
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Standard legal limitations on enforceability. E.g., Subject to insolvency or enforcement laws. начать обучение
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Deduction or withholding for Tax Withholding tax applied to payments. E.g., No tax deduction is required under Polish law. начать обучение
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potrącenie lub pobór podatku
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Tax on legal documents. E.g., Stamp duty applies to powers of attorney. начать обучение
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Filing / recording / enrolling Legal formalities for enforceability. E.g., Mortgages must be registered in the land register. начать обучение
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złożenie / rejestracja / wpis
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Pledge registry / share register Official registers for security interests. E.g., Pledges must be registered. начать обучение
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rejestr zastawów / rejestr udziałów
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A breach of contract triggering lender rights. E.g., Non-payment or breach of covenants. начать обучение
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A realistic and foreseeable possibility. E.g., No default is reasonably likely to occur. начать обучение
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Drawing funds under the loan facility. E.g., No default will result from any Utilisation. начать обучение
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A time window to remedy a breach before it becomes a default. E.g., A missed payment may become a default after the grace period. начать обучение
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A situation allowing a party to terminate a contract. E.g., Cross-default clauses often define termination events. начать обучение
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zdarzenie uprawniające do rozwiązania umowy
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Misleading in any material respect Information that could mislead a lender in making a decision. E.g., Omitting a major tenant default. начать обучение
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wprowadzające w błąd w istotnym zakresie
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Independent expert who assesses property value. E.g., The Valuer relied on Borrower’s data. начать обучение
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Legal Due Diligence Report Legal analysis of the Borrower or project. E.g., Lawyers prepare this report for the Lenders. начать обучение
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raport z badania prawnego
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Failure to disclose relevant information. E.g., The Borrower must not withhold material facts. начать обучение
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Forecasts of future financial performance. E.g., Based on reasonable assumptions. начать обучение
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Generally accepted accounting principles (GAAP) Standardy stosowane przy sporządzaniu sprawozdań finansowych. E.g., Polish GAAP or IFRS. начать обучение
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powszechnie przyjęte zasady rachunkowości
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Accurately reflect the financial condition. E.g., The statements fairly represent the Borrower’s operations. начать обучение
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Material adverse change (MAC) A significant deterioration in financial or business condition. E.g., No MAC has occurred since the last financials. начать обучение
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Accounting policies used uniformly over time. E.g., No change in depreciation method. начать обучение
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stosowane w sposób spójny
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A legal term meaning that obligations rank equally in priority of payment. начать обучение
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A creditor who does not have collateral backing their claim. начать обучение
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wierzyciel niezabezpieczony
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A creditor whose claims are not ranked below others in case of insolvency. начать обучение
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wierzyciel niepodporządkowany
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mandatorily preferred by law Obligations that are given priority by law, such as tax debts. начать обучение
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A significant negative change in the borrower's financial or legal condition. начать обучение
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A legal action related to environmental damage or non-compliance. начать обучение
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Regulations governing pollution, waste, and environmental protection. начать обучение
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An official authorization to carry out activities affecting the environment. начать обучение
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A material that poses risks to health or the environment. начать обучение
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ordinary course of operating Routine business activities carried out in normal operations. начать обучение
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to the best of its knowledge A phrase limiting liability based on known information at the time. начать обучение
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To engage in commercial or operational activities. начать обучение
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In line with or not contradicting the terms of another document. начать обучение
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A legal or beneficial right to own or use a property. начать обучение
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Ownership that provides the benefits of property even if not in name. начать обучение
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A situation where an entity is fully liable for its debts. начать обучение
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nieograniczona odpowiedzialność
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Significant financial obligations that may affect solvency. начать обучение
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A potential obligation depending on a future event. начать обучение
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ordinary course of business Regular, routine operations of a company. начать обучение
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The total sum of all items combined. начать обучение
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A party appointed to manage financial transactions on behalf of lenders. начать обучение
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Bank accounts already approved and in use by the Borrower. начать обучение
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Properly and on time, in accordance with legal or contractual obligations. начать обучение
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To pay off or settle a financial obligation. начать обучение
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Taxes legally levied on a person or entity. начать обучение
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incurring interest or penalties Becoming liable for additional charges due to late payment. начать обучение
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naliczanie odsetek lub kar
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Disputed honestly and with legitimate reasons. начать обучение
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kwestionowany w dobrej wierze
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Legal or procedural methods suitable for the situation. начать обучение
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A formally submitted and legally acceptable application. начать обучение
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prawidłowo złożony wniosek
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Official documents filed with tax authorities reporting income and taxes owed. начать обучение
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Legal demands or accusations made against a party. начать обучение
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A realistic possibility based on known facts or circumstances. начать обучение
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uzasadnione prawdopodobieństwo
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A legally recognized ownership right to an asset. начать обучение
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Assets pledged to secure the obligations under the finance documents. начать обучение
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zabezpieczenie transakcyjne
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A legal claim or restriction on a property, such as a lien or easement. начать обучение
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A right to use part of a property for a specific purpose (e.g., utility access). начать обучение
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Land and Mortgage Registers Official public records of property ownership and encumbrances. начать обучение
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The gradual sinking of land, which can damage buildings. начать обучение
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Significant physical harm that affects the value or usability of an asset. начать обучение
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A flaw in the building’s structure that may compromise safety or value. начать обучение
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Acting honestly and without intent to deceive. начать обучение
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To obstruct or hinder progress or use. начать обучение
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A legal charge over property to secure a loan. начать обучение
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A legal right over assets to secure repayment of a loan. начать обучение
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A clause preventing the borrower from creating additional security interests. начать обучение
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zakaz ustanawiania zabezpieczeń
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The highest level of priority in case of enforcement or liquidation. начать обучение
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pierwszeństwo w kolejności zaspokojenia
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Equal ranking with other creditors or security holders. начать обучение
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równorzędna kolejność zaspokojenia
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The total value of shares issued by a company. начать обучение
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Shares for which the full purchase price has been paid. начать обучение
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A contractual right to buy shares at a future date. начать обучение
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Legal documents that define the structure and rules of a company (e.g., articles of association). начать обучение
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To prevent or make difficult the execution of certain actions. начать обучение
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enforcement of the Security The process of realizing the value of security in case of default. начать обучение
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Has legal ownership and decision-making authority. начать обучение
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Unable to pay debts as they become due. начать обучение
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threatened with insolvency At risk of becoming insolvent based on financial condition. начать обучение
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zagrożony niewypłacalnością
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Any agreement related to the financing transaction. начать обучение
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The process of closing a company and distributing its assets. начать обучение
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Legal termination of a company’s existence. начать обучение
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restructuring / reorganisation Changing the structure or operations of a company to improve viability. начать обучение
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restrukturyzacja / reorganizacja
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Selling assets to pay off debts, often in insolvency. начать обучение
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receiver / administrator / trustee A person appointed to manage a company’s assets during insolvency. начать обучение
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syndyk / zarządca / powiernik
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foreign bankruptcy proceedings Insolvency processes initiated in another jurisdiction. начать обучение
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zagraniczne postępowania upadłościowe
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rescheduling / refinancing Adjusting payment terms or replacing debt with new financing. начать обучение
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zmiana harmonogramu / refinansowanie
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A party that has obligations under the finance documents. начать обучение
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Legal protection preventing a party from being sued. начать обучение
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Legal processes to enforce a judgment or secure assets. начать обучение
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Any formal legal action or proceeding. начать обучение
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Official permission required by law or regulation. начать обучение
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Legal approval to begin construction. начать обучение
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Authorization to carry out activities affecting the environment. начать обучение
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Legally assigned or moved to another party. начать обучение
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Contracts and materials defining the scope and terms of a development project. начать обучение
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Significant modifications that affect the substance of a document. начать обучение
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A party representing the lenders and overseeing compliance. начать обучение
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Creations of the mind, such as designs, inventions, and trademarks. начать обучение
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legal and beneficial owner A person who holds legal title and enjoys the benefits of ownership. начать обучение
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właściciel prawny i faktyczny
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Permission to use intellectual property under agreed terms. начать обучение
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The date by which the project must be fully completed. начать обучение
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data ostatecznego zakończenia
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To violate someone’s legal rights, especially intellectual property. начать обучение
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A legal dispute questioning whether a right or document is legally enforceable. начать обучение
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zakwestionowanie ważności
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Required Equity Contribution The amount of equity the borrower must invest in the project. начать обучение
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wymagany wkład kapitałowy
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A loan that ranks below other debts in case of liquidation. начать обучение
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A significant negative change in financial or legal condition. начать обучение
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Original Financial Statements The initial financial reports used as a reference point in the agreement. начать обучение
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pierwotne sprawozdania finansowe
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Repeating Representations Representations that are deemed to be repeated at regular intervals (e.g., interest payment dates). начать обучение
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Considered as restated without needing a new formal declaration. начать обучение
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uznawane za ponownie złożone
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The scheduled date on which interest is due under the loan agreement. начать обучение
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As soon as reasonably possible, without unnecessary postponement. начать обучение
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A statement that has become incorrect or inapplicable due to changed circumstances. начать обучение
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już nieprawdziwe lub nieważne
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Compensation for losses due to currency conversion. E.g., The Borrower must cover FX losses if payment is made in the wrong currency. начать обучение
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Amount due to be received. E.g., The receivable is denominated in EUR. начать обучение
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Exchange rate used to convert currencies. E.g., Based on the Lender’s internal rate. начать обучение
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Court enforcement proceedings Legal process to recover debt. E.g., Payment obtained through court enforcement. начать обучение
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Contracts for financial hedging (e.g., swaps). E.g., Currency indemnity does not apply to Hedge Documents. начать обучение
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dokumenty zabezpieczające
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Compensation for specific costs not covered elsewhere. E.g., Costs due to Event of Default. начать обучение
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A breach of contract triggering lender rights. E.g., Non-payment or covenant breach. начать обучение
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A formal request to draw funds. E.g., The Borrower submitted a Utilisation Request. начать обучение
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Notice from the Borrower to repay early. E.g., Costs arise if the Borrower fails to prepay as notified. начать обучение
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zawiadomienie o przedterminowej spłacie
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Costs supported by evidence. E.g., Legal fees, funding costs, etc. начать обучение
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Compensation for losses or costs incurred by the Agent. E.g., The Borrower must indemnify the Agent for investigation costs. начать обучение
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odszkodowanie na rzecz Agenta
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Based on objective, rational judgment. E.g., The Agent reasonably believes a Default occurred. начать обучение
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Cost supported by evidence (e.g., invoices). E.g., Legal fees must be properly documented. начать обучение
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należycie udokumentowany koszt
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A directive or order given to the Agent. E.g., The Agent relied on an instruction from the Borrower. начать обучение
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Steps to reduce or avoid negative consequences. E.g., The Lender may transfer obligations to mitigate costs. начать обучение
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A company related by ownership or control. E.g., Rights may be transferred to an Affiliate. начать обучение
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Restriction on obligations or liability. E.g., The Lender is not obliged to mitigate if it would be prejudicial. начать обучение
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ograniczenie odpowiedzialności
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Likely to cause harm or disadvantage. E.g., The Lender may refuse mitigation if it is prejudicial. начать обучение
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Costs that are fair and justifiable. E.g., The Borrower must reimburse reasonably incurred expenses. начать обучение
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poniesione w uzasadniony sposób
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External costs related to preparing and executing the loan. E.g., Legal and notary fees. начать обучение
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Legal process of making a security interest enforceable. E.g., Registration of mortgage. начать обучение
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ustanowienie (zabezpieczeń)
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Legal Due Diligence Report Legal review of the project or borrower. E.g., Required before first disbursement. начать обучение
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raport z badania prawnego
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Agreed in advance between parties. E.g., Costs must be pre-agreed to be reimbursed. начать обучение
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A modification to the terms of the agreement. E.g., The Borrower requested an amendment to the repayment schedule. начать обучение
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A formal relinquishment of a contractual right. E.g., A waiver of a financial covenant. начать обучение
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Formal approval by the Lenders or Agent. E.g., Consent to release a security. начать обучение
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Supported by proper evidence (e.g., invoices). E.g., Only duly documented costs are reimbursed. начать обучение
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Agreed in advance between parties. E.g., Costs must be pre-agreed to be reimbursed. начать обучение
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Representation and Warranty A formal statement of fact made by the Borrower. E.g., The Borrower represents it is duly incorporated. начать обучение
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oświadczenie i zapewnienie
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Legally formed under applicable law. E.g., A limited liability company under Polish law. начать обучение
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Centre of Main Interests (COMI) The main place of business for insolvency purposes. E.g., COMI is in Poland. начать обучение
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centrum interesów gospodarczych
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A place of operations in another jurisdiction. E.g., The Borrower has no establishment outside Poland. начать обучение
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EU regulation on cross-border insolvency proceedings. E.g., Defines COMI and establishment. начать обучение
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rozporządzenie UE 2015/848
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Increasing a payment to offset tax deductions. E.g., The Borrower must gross-up payments to ensure the Lender receives the full amount. начать обучение
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Withholding tax required by law. E.g., If a tax deduction applies, the Borrower must gross-up. начать обучение
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Amount received after deductions. E.g., The Lender must receive the net amount as if no tax was withheld. начать обучение
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Pursuant to provisions of law As required by applicable legislation. E.g., Tax deductions may be required pursuant to law. начать обучение
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zgodnie z przepisami prawa
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Obligations to compensate for losses or damages. E.g., The Borrower shall indemnify the Lender for any tax-related losses. начать обучение
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A lender that meets tax treaty or domestic law conditions to receive payments without withholding. E.g., No gross-up applies if the Lender is not a Qualifying Lender. начать обучение
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kwalifikowany kredytodawca
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A lender entitled to tax benefits under a double tax treaty. E.g., A Treaty Lender must provide tax documents. начать обучение
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Published practice or concession Official tax authority guidance or relief. E.g., Changes in published practice may affect gross-up obligations. начать обучение
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opublikowana praktyka lub ulga
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Administrative steps to obtain tax exemption. E.g., Filing forms to avoid withholding tax. начать обучение
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A tax on legal documents. E.g., The Borrower must reimburse stamp duties. начать обучение
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Fees for registering legal documents. E.g., Payable in connection with security documents. начать обучение
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Tax on goods and services. E.g., VAT may apply if tax law changes. начать обучение
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Not including VAT. E.g., All amounts are deemed exclusive of VAT. начать обучение
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Repayment of expenses. E.g., The Borrower shall reimburse the Lender for VAT on costs. начать обучение
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Not entitled to deduction Cannot recover VAT. E.g., VAT is payable if the Lender is not entitled to deduction. начать обучение
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Additional costs due to legal or regulatory changes. E.g., The Borrower must reimburse Increased Costs. начать обучение
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International banking regulations on capital and liquidity. E.g., New Basel III rules may increase costs. начать обучение
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Allocated based on share or exposure. E.g., Costs are calculated proportionally if affecting a class of loans. начать обучение
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Adhering to laws or regulations. E.g., Costs incurred due to compliance with new rules. начать обучение
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zgodność / przestrzeganie
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Formal request for payment. E.g., The Borrower must pay within 10 days of the Agent’s demand. начать обучение
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