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Payments into Control Accounts Transfers of funds into designated accounts used to manage loan-related cash flows. start learning
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wpłaty na rachunki kontrolne
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This phrase means that the clause does not override or conflict with mandatory legal provisions. start learning
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Laws that must be followed regardless of contract terms, such as tax regulations. start learning
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Money received from tenants under lease agreements. start learning
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Charges paid by tenants for building maintenance and utilities. start learning
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A legal contract between landlord and tenant outlining rental terms. start learning
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A contract that provides financial protection against property-related risks. start learning
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Refunds of value-added tax received from tax authorities. start learning
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Indicates that payments must be made without delay. start learning
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The specific account designated for a particular type of income or transaction. start learning
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A bank account designated for specific financial operations under the loan agreement. start learning
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The time during which the borrower can draw funds under the loan facility. start learning
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okres dostępności kredytu
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Debt Service Reserve Account An account used to hold funds reserved for future debt payments. start learning
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rachunek rezerw na obsługę zadłużenia
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An account for capital expenditure funds, such as renovations or upgrades. start learning
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rachunek depozytowy CAPEX
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VAT Split Payment Account A legally required account for handling VAT payments under the split payment mechanism. start learning
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rachunek VAT – mechanizm podzielonej płatności
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Indicates the currency in which the account is held (e.g., EUR, PLN). start learning
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The specific branch of the lender where the account is opened. start learning
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The borrower is prohibited from holding other accounts without written consent. start learning
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The borrower must ensure that a certain action is carried out, often by third parties. start learning
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A default account for receiving funds not allocated to other control accounts. start learning
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A situation where the borrower fails to meet contractual obligations, such as payment delays. start learning
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To take money out of an account, subject to conditions in the agreement. start learning
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A dedicated account for handling VAT recoveries, blocked in favor of the Agent. start learning
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The government institution responsible for collecting taxes and issuing VAT refunds. start learning
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Indicates that the account is restricted and controlled by another party (e.g., the Agent). start learning
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A loan facility specifically related to VAT obligations and recoveries. start learning
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The first time the borrower draws funds under the loan facility. start learning
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The time frame during which the borrower can use the loan facility. start learning
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A formal request made in writing, often required for contractual actions. start learning
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A blocked account used to hold security deposits from tenants or contractors. start learning
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A sum of money paid as security under a lease or construction contract. start learning
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A contract between the borrower and contractor for construction services. start learning
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Project budget items that have not yet been paid or finalized. start learning
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The total planned financial allocation for the development project. start learning
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A limitation on the amount that can be deposited based on the project budget. start learning
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Obligations of the borrower that are secured by collateral or controlled accounts. start learning
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zabezpieczone zobowiązania
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To refund the deposit to the tenant or contractor under contract terms. start learning
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Moving the deposit to the rent account, usually to cover tenant liabilities. start learning
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przelać na rachunek czynszowy
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A bank account used to collect rental income from tenants, excluding service charges and deposits. start learning
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An account that is accessible for transactions, subject to conditions in the agreement. start learning
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Payments related to loan interest and principal, including hedge settlements. start learning
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Contracts used to manage financial risks, such as interest rate swaps. start learning
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dokumenty zabezpieczające ryzyko
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Expenses related to property management, such as maintenance and utilities. start learning
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Statutory payments due to tax authorities. start learning
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A financial plan for covering operating costs, approved by the Agent. start learning
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A quarterly report confirming compliance with financial covenants. start learning
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An official document allowing the use of a completed building. start learning
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pozwolenie na użytkowanie
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A loan facility used for financing long-term investments. start learning
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Development Facility Tranches Portions of a loan used for development purposes, repaid before surplus funds are released. start learning
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transze kredytu rozwojowego
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The amount of money available in the account. start learning
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The date when the borrower first draws funds under the facility. start learning
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data pierwszego wykorzystania
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Estimated loan payments due in the next period. start learning
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prognozowana obsługa zadłużenia
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The difference between required and actual reserve balance. start learning
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A separate deposit used to meet conditions for loan utilization. start learning
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The phase during which the property is being developed. start learning
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Debt Service Coverage Ratio forecasted for covenant compliance. start learning
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prognozowany wskaźnik DSCR
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An account used to collect service charges from tenants and pay operating costs. start learning
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rachunek opłat eksploatacyjnych
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Long-term investments in property maintenance or upgrades. start learning
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Financial support for tenant-specific interior works. start learning
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wkłady na wykończenie powierzchni
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Insurance Proceeds Account A blocked account used to collect insurance payouts directly from insurers. start learning
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rachunek środków z ubezpieczenia
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Compensation received from insurers for covered damages. start learning
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not to be unreasonably withheld or denied A clause ensuring that consent must be given fairly and without unnecessary delay. start learning
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nie może być bezzasadnie odmówiona
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The act of taking money out of a bank account. start learning
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Formal approval required before taking certain actions. start learning
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The borrower permanently grants the Agent authority to act. start learning
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nieodwołalnie upoważniony
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Legal documents governing the loan and its terms. start learning
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The scheduled date for interest payments under the loan. start learning
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The date when the loan must be fully repaid. start learning
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Financial strategies to protect against interest rate or currency fluctuations. start learning
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A contract to exchange fixed and floating interest payments. start learning
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A hedging instrument that sets a maximum interest rate. start learning
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The total amount committed under a loan tranche. start learning
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form and substance satisfactory to Indicates that the lender must approve the structure and terms of the hedge. start learning
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forma i treść satysfakcjonująca dla
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A third-ranking mortgage securing obligations under hedging contracts. start learning
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A mortgage that ranks behind two other existing mortgages. start learning
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hipoteka trzeciego stopnia
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submission to voluntary execution A legal declaration allowing enforcement without court proceedings. start learning
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power of attorney to Control Accounts Authorization allowing the lender to manage designated accounts. start learning
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pełnomocnictwo do rachunków kontrolnych
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cap transaction with premium paid upfront A hedging instrument where the borrower pays a fixed fee at the start. start learning
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transakcja typu „cap” z premią zapłaconą z góry
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deregistration of mortgage Legal removal of a mortgage from the land and mortgage register. start learning
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To reassign or release priority space in the mortgage register. start learning
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Financial market operations, often involving currencies or interest rates. start learning
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Transactions aimed at profit from market movements, not risk management. start learning
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The principal amount used to calculate payments in a derivative contract. start learning
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A ratio comparing the loan amount to total project costs. start learning
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wskaźnik kredyt do kosztu
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A contractual limit on the LTC ratio to ensure financial discipline. start learning
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Loan to Value Ratio (LTV) A ratio comparing the loan amount to the appraised property value. start learning
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wskaźnik kredyt do wartości
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A contractual obligation to maintain the LTV ratio below a specified threshold. start learning
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Valuation of the Property An appraisal determining the current market value of the property. start learning
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Section of the agreement outlining valuation procedures. start learning
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A revised appraisal reflecting current market conditions. start learning
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Debt Service Coverage Ratio (DSCR) A measure of the project’s ability to service debt from its cash flow. start learning
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wskaźnik pokrycia obsługi zadłużenia
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Based on actual past cash flows. start learning
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historyczny wskaźnik DSCR
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A contractual financial condition the borrower must meet. start learning
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Required Equity Contribution Minimum equity the borrower must invest, usually ~40% of total costs. start learning
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wymagany wkład kapitałowy
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A loan with lower repayment priority, often counted as quasi-equity. start learning
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A published benchmark interest rate (e.g., EURIBOR, WIBOR). start learning
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Financial data platform displaying benchmark rates. start learning
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Indicates the institution responsible for publishing the rate. start learning
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Transactions involving the sale or transfer of assets. start learning
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Multiple related or unrelated asset transfers. start learning
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Real estate owned by the borrower, often used as collateral. start learning
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Total Development Facility Commitments The total amount committed under the development facility. start learning
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łączne zobowiązania z tytułu kredytu rozwojowego
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restricted property rights Legal rights such as easements or access rights. start learning
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ograniczone prawa rzeczowe
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Companies providing essential services like water, electricity, or gas. start learning
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Any obligation to repay borrowed money or provide financial guarantees. start learning
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A party to whom money is owed. start learning
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To become liable for a financial obligation. start learning
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To settle or eliminate a financial obligation. start learning
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Offsetting mutual debts between parties. start learning
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guarantee / indemnity / bond / letter of credit Instruments used to support or secure financial obligations. start learning
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gwarancja / zabezpieczenie / obligacja / akredytywa
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Legal documents governing the loan and related obligations. start learning
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A loan that ranks below other debts in case of liquidation. start learning
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The party providing a subordinated loan. start learning
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pożyczkodawca podporządkowany
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To legally transfer rights or obligations to another party. start learning
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To claim or attempt to transfer rights, even if not legally valid. start learning
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merger / de-merger / transformation Corporate restructuring actions that change the legal or operational form of the company. start learning
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fuzja / podział / przekształcenie
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Formal approval required before taking certain actions. start learning
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The way in which the borrower operates and manages its business. start learning
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A significant alteration in the nature or scope of business activities. start learning
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Legal documents defining the company’s structure and governance. start learning
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Agreements and instruments governing the loan and financial obligations. start learning
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Terms that reflect fair market value and independent negotiation. start learning
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A company that operates independently and is legally distinct from others. start learning
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The registered legal address of the company. start learning
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Deals made to profit from market fluctuations, not allowed here. start learning
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Legal agreements forming part of the financing structure. start learning
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A contract that could significantly affect the borrower's financial or legal position. start learning
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A situation that could harm the borrower's ability to meet obligations. start learning
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Security Assignment Agreement Contract transferring rights and claims to the lender as collateral. start learning
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umowa o przeniesienie zabezpieczeń
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restrictions on assignments Clauses that prevent transferring rights to another party. start learning
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Centre of Main Interests (COMI) The jurisdiction where the borrower conducts its main business activities. start learning
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centrum interesów głównych
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A fixed place of business relevant for legal and insolvency purposes. start learning
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The country where the borrower is legally obligated to pay taxes. start learning
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Disputing a tax liability through legitimate legal means. start learning
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kwestionowane w dobrej wierze
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Funds set aside to cover potential tax liabilities. start learning
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Payments to shareholders or group entities, such as dividends or fees. start learning
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To announce and transfer profits to shareholders. start learning
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ogłaszać lub wypłacać dywidendy
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Loans that rank below other debts in case of liquidation. start learning
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The date when all phases of the project are fully completed. start learning
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data ostatecznego zakończenia
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Required Equity Contribution The minimum equity the borrower must invest in the project. start learning
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wymagana wysokość wkładu kapitałowego
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Debt Service Reserve Amount Funds reserved to cover upcoming debt payments. start learning
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kwota rezerwy na obsługę zadłużenia
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Account used to fund capital expenditures. start learning
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rachunek depozytowy CAPEX
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Legal documents establishing collateral for the loan. start learning
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dokumenty zabezpieczające
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Security interests registered in official pledge registers. start learning
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once in a calendar quarter Indicates the maximum frequency of allowed distributions. start learning
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raz na kwartał kalendarzowy
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A situation where ownership or voting power shifts significantly. start learning
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The party acting on behalf of lenders in a syndicated loan. start learning
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Agent (reprezentant kredytodawców)
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Natural deterioration from regular use. start learning
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A promise to pay another party’s debt if they default. start learning
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All creditors are treated equally in terms of repayment. start learning
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A creditor without collateral backing the loan. start learning
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wierzyciel niezabezpieczony
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A creditor whose claims rank below others. start learning
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wierzyciel podporządkowany
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Claims that must be prioritized by law. start learning
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uprzywilejowany z mocy prawa
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The act of buying assets or shares. start learning
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To agree to purchase shares in a company. start learning
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Obligations to be fulfilled after signing the agreement. start learning
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Bank accounts held before the new financing structure. start learning
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A legal charge over real estate to secure a loan. start learning
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A formal document signed before a notary public. start learning
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A security interest registered in a public register. start learning
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Contract establishing a pledge over assets. start learning
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Transfer of rights from one party to another. start learning
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A contract for renting property. start learning
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Total rentable area of a property. start learning
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powierzchnia brutto najmu
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Agreement for construction works. start learning
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Acknowledged by the debtor The debtor confirms the assignment or obligation. start learning
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Attempted with reasonable diligence but not guaranteed. start learning
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w miarę możliwości / według najlepszych starań
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Legal process of entering a right into a public register. start learning
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postępowanie rejestracyjne
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Contracts and documents governing the execution of the project. start learning
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Official approvals or permits required for the project. start learning
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Obligations that significantly affect the project’s success. start learning
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Failure to comply with a contractual obligation. start learning
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A situation where a party fails to meet its contractual duties. start learning
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niewykonanie / naruszenie
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Agreement governing the construction and development of the project. start learning
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To alter the terms of a contract. start learning
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Terminate / Suspend / Cancel To end or pause a contractual agreement. start learning
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rozwiązać / zawiesić / anulować
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Unreasonably withheld or delayed A clause ensuring fairness in granting approvals. start learning
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bezzasadnie wstrzymana lub opóźniona (zgoda)
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The right to make decisions based on judgment. start learning
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swoboda decyzji / uznaniowość
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For the avoidance of doubt Phrase used to clarify and prevent misinterpretation. start learning
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dla uniknięcia wątpliwości
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Invoices approved under the financing terms. start learning
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Independent party overseeing project progress. start learning
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Professional indemnity insurance Insurance covering professional errors or negligence. start learning
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ubezpieczenie odpowiedzialności zawodowej
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Withholding part of payment as performance guarantee. start learning
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A guarantee that cannot be withdrawn or cancelled. start learning
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Guarantee payable immediately upon request. start learning
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płatna na pierwsze żądanie
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Outstanding/disputable payments Payments not yet made or under dispute. start learning
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Legal regulations governing environmental protection. start learning
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Official approvals required for activities affecting the environment. start learning
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A significant or substantial part of compliance. start learning
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Taking action before something happens. start learning
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przewidywanie / przygotowanie
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Legal action related to environmental damage or non-compliance. start learning
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Feasible under normal circumstances. start learning
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racjonalnie możliwe do wykonania
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A formal warning of potential legal action. start learning
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Adherence to laws or regulations. start learning
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As soon as reasonably possible. start learning
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To formally inform another party. start learning
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An assessment of the property's market value. start learning
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The first valuation before any loan drawdown. start learning
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Drawing funds under the loan facility. start learning
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wykorzystanie (środków z kredytu)
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Investment Facility Tranche A portion of the loan designated for investment purposes. start learning
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A professional who performs property valuations. start learning
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A breach of loan terms triggering lender rights. start learning
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A reasonable and legitimate demand. start learning
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Independent expert hired to assess property. start learning
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A detailed inspection or report on the property. start learning
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A document assessing environmental risks or compliance. start learning
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Construction all risks insurance Covers damage or loss during construction. start learning
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ubezpieczenie od wszystkich ryzyk budowlanych
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Third party liability insurance Covers claims from external parties for damages. start learning
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ubezpieczenie OC wobec osób trzecich
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Cost to replace the insured item with a new one. start learning
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Business interruption insurance Covers loss of income due to disruption. start learning
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ubezpieczenie od przerwy w działalności
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Contract between insured and insurer. start learning
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Payment made for insurance coverage. start learning
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Renewal / Variation / Cancellation Actions affecting the status of an insurance policy. start learning
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odnowienie / zmiana / anulowanie
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To make a contract legally ineffective. start learning
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Transferred rights under the policy to the Agent. start learning
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Insurance Proceeds Account Dedicated account for receiving insurance payouts. start learning
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rachunek środków z ubezpieczenia
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Unforeseeable events beyond control (e.g., natural disasters). start learning
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Terms consistent with current market standards. start learning
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Tenant pays taxes, insurance, and maintenance costs. start learning
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Costs for shared services and maintenance. start learning
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Bank account designated for rent payments. start learning
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Tenant occupying significant area or generating major revenue. start learning
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Total rentable area of the property. start learning
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powierzchnia brutto najmu
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Tenant rents out the leased space to another party. start learning
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Transfer of tenant’s rights under the lease. start learning
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Entity affiliated with the shareholder. start learning
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Rent expressed or calculated in euros. start learning
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To actively and carefully ensure payments are received. start learning
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pobierać z należytą starannością
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To legally or contractually compel compliance. start learning
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Conditional Lease Agreement Lease that becomes effective upon meeting certain conditions. start learning
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To relinquish, cancel or modify contractual terms. start learning
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zrzec się / unieważnić / zmienić
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Reduction or offset of rent payments. start learning
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Assigning rights under a lease to another party. start learning
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Security Assignment Agreement Contract transferring lease-related rights to the lender. start learning
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umowa przeniesienia zabezpieczeń
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Repair ensuring long-term functionality and safety. start learning
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Technical inspection of structural integrity. start learning
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Professional entity managing the property. start learning
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Contract defining terms of property management. start learning
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Duration of the loan agreement. start learning
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Directive / Order / Resolution Formal instructions or decisions from authorities. start learning
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dyrektywa / nakaz / uchwała
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Notice that may significantly affect the property or project. start learning
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A breach of loan terms triggering lender rights. start learning
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To fix or correct a failure or breach. start learning
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Days excluding weekends and public holidays. start learning
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Individuals authorized to act on behalf of the Agent. start learning
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Repairs or modifications to the building’s structure. start learning
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Repayment of expenses incurred. start learning
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Access to books and records Right to inspect financial and operational records. start learning
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dostęp do ksiąg i dokumentacji
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Formal examination of property or documents. start learning
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Legal right to access the property. start learning
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Failure to pay amounts due under the finance documents. start learning
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Administrative/technical error Issues in banking systems causing payment delays. start learning
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błąd administracyjny/techniczny
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Contractual financial ratios the borrower must maintain. start learning
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Obligations to provide regular and accurate information. start learning
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zobowiązania informacyjne
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A statement that is materially incorrect or misleading. start learning
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To correct a breach or failure. start learning
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A significant or substantial aspect. start learning
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Specific date for assessing financial covenants. start learning
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Government seizure of private property for public use. start learning
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Legal seizure of assets to satisfy a judgment. start learning
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zabezpieczenie (np. sądowe)
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Seizure of property due to unpaid debts. start learning
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Enforcement of a court judgment. start learning
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Final and binding judgment A court decision that cannot be appealed. start learning
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prawomocny i wiążący wyrok
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Forced acquisition of property by the state. start learning
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Transfer of private assets to state ownership. start learning
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Estimated price of an asset in the open market. start learning
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Legal document establishing collateral rights. start learning
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Significant physical damage affecting value or usability. start learning
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Decision or action to stop operating the business. start learning
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zaprzestanie działalności
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Legal process of dissolving a company. start learning
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Legal impossibility to perform contractual obligations. start learning
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Legal document governing the financing structure. start learning
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Collateral established under the transaction documents. start learning
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zabezpieczenie transakcyjne
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To revoke or cancel a contract. start learning
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DSCR based on forecasted cash flows. start learning
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wskaźnik DSCR zgodnie z projekcją
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Legal cancellation or withdrawal from a contract. start learning
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To claim or intend to cancel a contract. start learning
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Contract related to project execution. start learning
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Entity owning shares in the Borrower. start learning
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A shift in ownership or voting power affecting control. start learning
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Agreement establishing collateral over shares. start learning
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Issuance of new shares increasing share capital. start learning
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Legal and economic arrangement of company ownership. start learning
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Inability to pay debts as they become due. start learning
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Negotiating new terms for debt repayment. start learning
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restrukturyzacja zadłużenia
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Temporary suspension of debt payments. start learning
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Composition with creditors Agreement to settle debts under modified terms. start learning
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Liquidator / Receiver / Administrator Court-appointed officers managing insolvency. start learning
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likwidator / syndyk / administrator
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Frivolous or vexatious proceeding Legal action lacking merit or intended to harass. start learning
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bezzasadne lub uciążliwe postępowanie
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Final court decision enforceable by law. start learning
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Economic conditions impairing solvency. start learning
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Adverse effect on enforceability Impact that prevents legal enforcement of obligations. start learning
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negatywny wpływ na wykonalność zobowiązań
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Default on one obligation triggers default on another. start learning
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Any financial obligation to repay borrowed funds. start learning
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Extra time allowed to make a payment after the due date. start learning
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Debt becomes immediately payable due to default. start learning
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Legal proceedings in court. start learning
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Dispute resolution outside of court. start learning
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Legal action lacking merit or seriousness. start learning
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Legal or regulatory actions with significant impact. start learning
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Administrative proceedings Investigations or actions by public authorities. start learning
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postępowania administracyjne
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Funds set aside to cover potential liabilities. start learning
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Ceasing work or commitment to a project. start learning
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Temporary halt in project execution. start learning
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Legal or contractual disagreement. start learning
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Temporary court order to preserve status quo. start learning
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postępowanie zabezpieczające
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Legal action to enforce a judgment or claim. start learning
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Contractor’s fee excluding taxes and deductions. start learning
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Consent must not be denied without valid reason. start learning
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bezzasadnie wstrzymana (zgoda)
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A note in the audit report indicating concerns or limitations. start learning
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Assumption that the company will continue operating. start learning
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The full amount of credit committed under the agreement. start learning
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To legally end the agreement. start learning
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Debt that must be repaid immediately upon request. start learning
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Lenders holding the majority of commitments or voting rights. start learning
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A structured response to correct a default. start learning
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Measures that are fair and appropriate under the circumstances. start learning
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Mandatory provisions of law Legal rules that cannot be overridden by contract. start learning
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obowiązkowe przepisy prawa
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Legal right over assets to secure repayment. start learning
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zabezpieczenie wierzytelności
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Agreement to pledge movable assets. start learning
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Security Assignment Agreement Transfer of rights as collateral. start learning
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umowa przeniesienia zabezpieczeń
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Agreement ranking debt below other obligations. start learning
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Legal authority to act on behalf of another. start learning
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Debt Service Reserve Account Account holding funds for debt payments. start learning
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rachunek rezerwy na obsługę zadłużenia
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Account for capital expenditure reserves. start learning
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rachunek nakładów inwestycyjnych
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Submission to Enforcement Irrevocable consent to enforcement of obligations. start learning
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Directive to freeze or restrict account access. start learning
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Transfer of rights under a contract. start learning
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Transfer of both rights and obligations. start learning
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The lender currently holding the loan. start learning
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dotychczasowy pożyczkodawca
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The entity acquiring the loan rights. start learning
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Compensation for tax deductions from payments. start learning
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Additional costs due to regulatory or tax changes. start learning
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Consent not unreasonably withheld Standard clause ensuring fairness in approvals. start learning
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zgoda nie może być bezzasadnie wstrzymana
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Legal checks to verify identity and legitimacy. start learning
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Contract formalizing the transfer of rights. start learning
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Consent assumed after a specified period without objection. start learning
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Document formalizing the transfer of loan rights. start learning
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Transfer of economic interest without legal assignment. start learning
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Location from which a lender administers the loan. start learning
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Compensation for tax deductions from payments. start learning
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Additional costs due to regulatory or tax changes. start learning
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Legal action lacking merit or intended to harass. start learning
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Confidentiality agreement Contract ensuring protection of sensitive information. start learning
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umowa o zachowaniu poufności
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The lender who originally provided the loan. start learning
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Significant negative impact on financial or legal standing. start learning
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