RCL » Topics » 1: Background

This excerpt taken from the RCL 8-K filed May 13, 2009.

1: Background

1.1     

This opinion is given in relation to the English law aspects of a transaction (the Transaction) by which:


(a)     

certain banks and other financial institutions have made available loan facilities of up to $840,000,000 and €159,429,092 to the Borrower; and


(b)     

the Borrower has created a charge over a bank account for the purpose of securing repayment of those facilities.

1.2     

We have acted as English legal advisers to the Agent in relation to certain aspects of the Transaction.


1.3     

We have examined [the original] [a copy] of the pledge agreement dated [__________] made between the Borrower and the Agent as agent for and on behalf of the Lenders from time to time relating to the Transaction as such document is governed by English law (the English Document).

1.4     

For the purpose of giving this opinion, we have examined no other documents and have undertaken no other enquiries.

1.5     

Our opinions are given in part 2. Part 3 explains their scope, part 4 describes the assumptions on which they are made and part 5 contains the qualifications to which they are subject.

BD-#9367864-v3 2



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