Review this exciting guide to some of the recent content additions to Practical Guidance, designed to help you find the tools and insights you need to work more efficiently and effectively. Practical Guidance...
By: Romaine Marshall and Jennifer Bauer , Polsinelli PC This article addresses the broad scope of artificial intelligence (AI) laws in the United States that focus on mitigating risk, and discusses the...
By: Bijan Ghom , Saxton & Stump This article addresses existing deepfake technology and covers topics such as the available platforms to both create and detect deepfakes and the best practices for...
By: Ellen M. Taylor , SLOAN SAKAI YEUNG & WONG LLP THIS ARTICLE ADDRESSES THE BROAD SCOPE OF artificial intelligence (AI) laws in the United States that focus on mitigating risk. AI-driven employment...
By: Jessica Bishop and Sarah Stothart , GOODMANS LLP This checklist provides an overview of key legal considerations attorneys should review when advising clients on negotiating and drafting contracts...
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By: Jason Amster, Practical Guidance
This article describes how you should proceed when your client calls and asks what happens to their loan documents after the pending cessation of London Interbank Offered Rate (LIBOR) at the end of 2021.
LENDER AND BORROWER CLIENTS WITH CREDIT AGREEMENTS that extend past that date and borrowers entering into new financings are asking their lawyers how their financings address the potential loss of LIBOR. This article explains what to look for to ensure that your credit agreement contemplates the end of LIBOR—and what to do if it does not.
LIBOR (often referred to as the Eurodollar Rate in credit agreements) is the baseline pricing mechanism in loan agreements and many other contractual arrangements. It is flexible and widely accepted, being available for several maturities ranging from overnight to one year and is calculated in five currencies. However, following the LIBOR manipulation scandal of 2012, banks themselves no longer wanted to report LIBOR, for fear of also becoming embroiled in LIBOR-related trouble. The UK’s Financial Conduct Authority (FCA), the regulator overseeing LIBOR, said that it would no longer require banks to provide LIBOR estimates at the end of 2021. CLICK HERE TO READ THE FULL ARTICLE IF YOU ARE A PRACTICAL GUIDANCE SUBSCRIBER