Events of Default are most often found in the context of loan agreements and are similar to termination rights that may be found in commercial agreements, albeit with potentially different consequences. An Event of Default is an event or circumstance relating to a borrower or its activities which will give rise to a right for a lender to refuse to make any further advances, demand immediate repayment of a loan, make a term loan repayable on demand and/or enforce its security.
With the UK due to leave the EU on 29 March 2019, UK Parliament is working towards creating new regulations to ensure that the UK’s data protection standards will be equivalent to EU law post-Brexit. The UK would use this as the basis for securing an adequacy decision from the European Commission meaning that our legal framework is deemed to provide adequate protection for individuals’ rights and freedoms over their personal data. As discussed in our previous blog, this would facilitate cross-border transfers of personal data and business continuity as the UK aims to trade with the single market on equal terms.
Trust is the cornerstone of commercial activity and can be enhanced in the online world by the use of e-signatures and trust services. In this blog we review the different types of e-signature and consider their legal validity and security for executing contracts and deeds.
As 29 March 2019 edges closer with an ever increasing possibility of the UK leaving the EU without a deal, research suggests that there has already been a marked increase in UK registered companies seeking to complete cross-border mergers with companies registered in other EEA states prior to exit day.
International transfers of personal data are instantaneous and constant. Everyday business functions such as uploading data files to the cloud or sending emails potentially involve transferring personal data across international borders. This is particularly relevant in today’s global economy where business functions are often outsourced overseas for operational and cost efficiencies.