Usury Savings Clause and Opinions Video

Watch this new video discussing how lenders can minimize the risks posed by usury laws. Usury laws limit the amount of interest lenders can collect on their loans. Penalties for making loans in excess of this amount include the loss of interest payments and, in extreme cases, principal. Unfortunately for lenders, it is not so easy to assess what constitutes interest because it can also include any fees, expenses, and penalties.

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Related Content

• Preparing Legal Opinions and Other Common Aspects of Opinion Practice
  Read this practice note discussing the structuring and initial drafting of third-party closing opinion letters in financing transactions. Lenders typically require that, as a condition to funding, borrower’s counsel deliver a legal opinion to the lenders.

• Scope and Elements of Opinion Letters
  Review this practice note discussing opinion letters in the context of financing transactions. Because legal opinions express the professional judgment of the lawyer representing the borrower, such opinions provide credible, independent confirmation, and assurance to the lenders that the matters covered in the opinions are true, and lenders place great reliance on this confirmation by borrower’s counsel.

• Opinion Letter (Secured Transactions)
  Use this standard legal opinion letter delivered by the borrower’s counsel to the agent and lenders in a typical syndicated loan transaction.

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