FEDERAL LAW OF THE RUSSIAN FEDERATION

of December 31, 2017 No. 486-FZ

About syndicated loan (loan) and modification of separate legal acts of the Russian Federation

Accepted by the State Duma on December 20, 2017

Approved by the Federation Council on December 26, 2017

Article 1. The relations regulated by this Federal Law

1. This Federal Law governs the relations arising in connection with provision to the borrower of loan or credit by several lessors (creditors) acting jointly and also the relations between the specified lessors (creditors) (further - creditors) and the relations between creditors and the third parties concerning financing of participation of creditors in provision to the borrower of loan or credit.

2. In the part which is not settled by this Federal Law to the relations specified regarding 1 this Article are subject to application of provision of the Civil code of the Russian Federation and other Federal Laws.

Article 2. General provisions about the agreement of syndicated loan (loan)

1. Under the agreement of syndicated loan (loan) several creditors (further - syndicate of creditors) shall provide or provide in coordination with each other to the borrower money in the amount of and the terms provided by the agreement for each creditor, and the borrower shall return to creditors the money received from them, pay interest for using money, and also other payments if the obligation of their payment is provided by the agreement.

2. The legal entity or the individual entrepreneur can be the borrower under the agreement of syndicated loan (loan).

3. Can be creditors under the agreement of syndicated loan (loan) (members of syndicate of creditors):

1) credit institutions, state corporation of development "ВЭБ.РФ";

2) foreign banks, international financial institutions, and also foreign legal entities who according to the personal law have the right to sign credit agreements;

3) non-state pension funds, managing companies of investment fund, mutual investment fund and non-state pension fund, specialized depositaries of investment fund, mutual investment fund and non-state pension fund;

4) other Russian legal entities in the cases provided by the Federal Law.

4. If the agreement of syndicated loan (loan) establishes in addition to the obligations of the parties specified regarding 1 this Article also other obligations of the borrower in relation to one or several creditors, the obligations of one of creditors in relation to other creditors connected with the agreement of syndicated loan (loan) or other obligations of agreement parties of syndicated loan (loan) (on management of pledge, on the organization of loan granting (loan) and others), to such agreement in the part which is not settled by this Federal Law are subject to application of provision of Item 3 of Article 421 of the Civil code of the Russian Federation. The agreement of syndicated loan (loan) shall provide condition about procedure for adoption by creditors of decisions and execution of obligations by them concerning the borrower and other persons in connection with provision to the borrower of syndicated loan (loan), its servicing and return (the intercreditor agreement), at the same time such condition does not create obligations for the borrower.

5. The agreement of syndicated loan (loan) can be signed after the borrower signed agreements of the credit (loan) with several future members of syndicate of creditors. In that case the agreement of syndicated loan (loan) changes earlier accrued obligations of specified persons if the list of participants of earlier accrued obligations and structure of agreement parties of syndicated loan (loan) completely match, at the same time the agreement of syndicated loan (loan) can provide the termination or change of the agreement of management of pledge, agreements on procedure for satisfaction of requirements of creditors to the borrower or other agreement connected with obligations of the borrower.

5.1. The agreement of syndicated loan (loan) is considered the prisoner also if between the borrower and the creditor the credit agreement was signed earlier or between the borrower and the lessor was signed the loan agreement and the parties of such credit agreement or loan agreements respectively afterwards signed with the third party (third parties) the agreement owing to which the third party (third parties) assumes obligation in coordination with the initial creditor (lessor) to provide or provide to the borrower money in established by the specified agreement the size and terms and (or) enters the initial obligation on the party of the creditor (Article 321 of the Civil code of the Russian Federation). The agreement of syndicated loan (loan) is considered the prisoner also if between the borrower and the creditor the credit agreement was signed earlier or between the borrower and the lessor the loan agreement from which requirements were yielded by the creditor to partially new creditor or in parts or in full new creditors if at the same time between the creditor and the new creditor or new creditors the agreement on procedure for adoption by all creditors of decisions and execution of obligations by them concerning the borrower and other persons in connection with provision to the borrower of the credit (loan), its servicing and return (the intercreditor agreement) is signed was signed, and the borrower agreed to application to the relations with its participation of rules of this Federal Law on the obligation from the agreement of syndicated loan (loan) at any time. If other is not provided by the agreement, conditions of the credit agreement or the loan agreement about providing the obligations which arose from it, the security agreements which arose from the credit agreement or the loan agreement of obligations keep the force and extend to agreement obligations of syndicated loan (loan), concluded according to the procedure, provided by this part.

6. The agreement of syndicated loan (loan) signed between the borrower and members of syndicate of creditors (initial members of syndicate of creditors) can provide possibility of accession to it of persons (new members of syndicate of creditors) specified in part 3 of this Article concerning which the agreement of syndicated loan (loan) is effective from the moment of joining of new members of syndicate of creditors to the agreement in the procedure provided by it. If other is not provided by the agreement of syndicated loan (loan), in case of accession to the agreement of new members of syndicate of creditors of the obligation of initial members of syndicate of creditors and the borrower do not change.

7. The agreement of syndicated loan (loan) shall be signed in writing. Non-compliance with form of the agreement of syndicated loan (loan) attracts its negligibility.

Article 3. Services in the organization of syndicated loan (loan)

1. (I will jam) person wishing to obtain syndicated loan, I will have the right to conclude with one of persons who can be owing to this Federal Law members of syndicate of creditors, or several such persons (the organizer or organizers of syndicated loan (loan) the agreement on the organization of syndicated loan (loan) under which the organizer of syndicated loan (loan) shall, being effective on the instructions of the customer, to render him services in preparation for the conclusion under certain conditions of the agreement of syndicated loan (loan) (service in the organization of syndicated loan (loan), and the customer shall pay remuneration for rendering these services. If other is not provided by the agreement on the organization of syndicated loan (loan), service in the organization of syndicated loan (loan) are considered rendered at the time of the conclusion of the agreement of syndicated loan (loan).

2. Pay obligation of the borrower to one of members of syndicate of creditors remuneration for the services in the organization of syndicated loan (loan) rendered to them to the borrower can be also provided by the agreement of syndicated loan (loan) (Item 2 of Article 425 of the Civil code of the Russian Federation).

3. The obligation of the customer not to enter until the conclusion of the agreement of syndicated loan (loan) any negotiations or contractual relations with other persons concerning the conclusion of agreements according to which money on the terms of their return and the paid nature on the purposes provided by the agreement on the organization of syndicated loan (loan) can be provided to the customer can be provided by the agreement on the organization of syndicated loan (loan) or services in the organization of such provision are rendered.

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