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borrower-lender agreement

    48in accordance with article 60L of the Regulated Activities Order,

      1. (a) a credit agreement:
        1. (i) to finance a transaction between the borrower and a person ("the supplier") other than the lender; and
        1. (ii) which is not made by the lender under pre-existing arrangements, or in contemplation of future arrangements, between the lender and the supplier,
      1. (b) a credit agreement to refinance any existing indebtedness of the borrower, whether to the lender or another person, or
      1. (c) a credit agreement which is:
        1. (i) an unrestricted-use credit agreement; and
        1. (ii) not made by the lender:
          1. (aa) under pre-existing arrangements between the lender and a person ("the supplier") other than the borrower, and
          1. (bb) in the knowledge that the credit is to be used to finance a transaction between the borrower and the supplier.