The Loan Market Association (“LMA”) caught some of the market by surprise when it removed the Mandatory Costs Schedule in April 2013 from its database of recommended form documents. This left a potential gap for new loan agreements where reference to the FSA was no longer appropriate (although technically still workable). The impact of the removal of the LMA Mandatory Costs schedule has been fragmented. Some institutions have elected to dispense with them, preferring to factor any potential costs into the margin. Others have either used an amended version of the last form of LMA Mandatory Costs Schedule or determined a formula based on their internal calculations.