In the recently released ISLA Legal Member Survey 2020/21, ISLA members indicated a requirement for the Association to produce a standard form amendment to assist market participants in their efforts to agree the deletion of references to LIBOR in their documentation.
The Documentation Subgroup worked on the amendment language, that has now been reviewed by Clifford Chance.
The wording can be used both as an additional provision in new GMSLAs, or as an amendment to legacy ones.
To view the update please click here.
