If the loan is a construction facility the administrative agent will coordinate payment of progress claims against QS reports.

If the loan involves prepaid interest for the term of the loan there is no management to do other than to communicate occasionally with the borrower to see how the exit strategy is progressing. If there are milestones in the special conditions then Bransgroves Lawyers will follow these up on the appointed dates, otherwise this is a job for the administrative agent.

Any commercial decisions that need to be made, for example whether to grant extensions, enforce or sell, are made by the lender. Where the loan is a syndicated mortgage the syndicate members vote on any commercial decisions.

Step 10 - Loan Management