It’s no secret that the legal services industry is a highly competitive marketplace in which providers of content and software solutions try to put the best spin on the quality of their respective...
Summary: How Can AI Be Used in Legal Research? Barriers to AI in the Legal Industry Should Attorneys Use Artificial Intelligence? AI Solutions for Lawyers This post was originally published...
Over the last year, law firms of all sizes, from the largest in the world to small and midsize firms, have pursued funding from multiple rounds of the Payment Protection Program (PPP) . For some, the PPP...
On January 29, 2021, the Director of the U.S. Centers for Disease Control and Prevention (CDC), Dr. Rochelle P. Walensky, officially extended the federal government’s moratorium on residential evictions...
There’s no time like the start of the year to plan for the future, even when it comes to estate planning. In fact, for trust and estate attorneys (not to mention their clients), that’s has...
The novel coronavirus (COVID-19) has battered global markets as many industries grapple with weaker demand and an uncertain outlook. In turn, borrowers and lenders may find themselves navigating credit documentation that did not anticipate such a drastic downturn, leaving forecasted cash flow (which lenders counted on for repayment) lower than the reality. While credit documentation may not specifically address a global outbreak, it will put pressure on certain provisions of a credit agreement. For example, a borrower with lower EBITDA may have unexpected difficulty paying back its loan or complying with financial covenants, which in turn will have borrowers and lenders poring over the events of default (and whether “force majeure” is applicable) and amendments, waivers, and consents sections of their agreements. Those borrowers with revolving facilities may also question whether they can bring down their “material adverse change” representation and warranty. Banks themselves must address these issues not only as lenders but as employers and regulated industries, which carry additional challenges (such as compliance with or changes to risk management policies and reporting obligations to regulators). The client alerts and related content below discuss these issues in detail.