It’s Time to Go: Defaulting Lender and “Yank-a-Bank” Provisions

Read this new practice note to understand the recent trends in defaulting lender credit agreement provisions, including yank-a-bank provisions which allow the borrower to replace a lender in the syndicate. The data analyzed in this practice note was obtained using Market Standards, our searchable database of publicly filed credit agreements and commitment letters that enables users to search, compare, and analyze agreements using detailed deal points to filter and search results.

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Related Content

• Market Trends 2022/23: Bail-In Provisions
  Review this practice note describing how credit agreements and commitment letters have addressed the possibility that European lending institutions become subject to “bail-in” powers of European bank regulators. This note discusses current market trends in publicly-filed credit agreements and commitment letters that address this issue from 2022 and the first quarter of 2023.

• Amendments, Consents, and Waivers Resource Kit
  Check out this resource kit providing an overview of amendments, consents, and other modifications for loan documents, along with an index of related content.

• Amendments and Lender Voting Right Issues in Credit Agreements
  Read this discussion of the process and mechanics necessary to amend or waive provisions of a credit agreement.

Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.

• Market Standards—Finance
• Amendment and Restatement Agreement (Credit Agreement)
• Transaction Financing Process Map
• Incremental Facility Process Map
• Demand for Standby Letter of Credit (Extend or Pay)
• Bank Failure Resource Kit assembles Practical Guidance resources covering topics related to the recent bank failures.
• Read the new edition of the Practical Guidance Journal featuring guidance for borrowers and sponsors entering into private credit loans with non-bank lenders. Also learn about sustainability-linked bonds and loans through a new video series.
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