In this clause, insert a “LIBOR floor” so that no lender suffers from this clause if its financing costs are lower than LIBOR. The agreement on LFs now contains this word. “It`s LMA” is the preferred motivation of any banking lawyer for a negotiating position and UK banks are increasingly asking their lawyers to prepare LMA-formatted facility agreements. But what is “LMA”? The Loan Market Association (LMA) publishes two types of recommended facility agreement formulas: investment level and leveraged financing (UAA). As Adam Pierce explains, there are a number of points of detail that are only in the LF agreement and that should be included in the facility agreements, regardless of the nature of the transaction.