This note considers how other parties to a facility agreement may be affected if a lender or facility agent fails to perform its funding or other obligations or becomes subject to an English-law insolvency procedure and what the options for a borrower are in that situation, including under the provisions addressing finance party default in the Loan Market Association's (LMA) recommended form of facilities agreement for leveraged acquisition finance transactions (senior/mezzanine). The note also outlines risk management strategies that a borrower might consider to mitigate against financial difficulties experienced by its lenders or financial service providers.