Before negotiating with counsel when drafting an intercreditor agreement, make sure you are up to speed on the respective rights, liabilities, and obligations of multiple creditors with respect to each other, the borrower, and the collateral. Read now »...
Read this practice note discussing recent market trends in competitive bid loan provisions. A competitive bid loan is a feature that can be added to a credit agreement to provide additional pricing flexibility for investment grade borrowers. Competitive bid loans...
Make sure you are up to date on the latest trends in healthcare financing. This practice note discusses current market trends in publicly filed credit agreements for healthcare service providers from the second half of 2022 and the first half of 2023, including...
Review this resource kit to make sure you are up to speed on the types of defaults, the standard grace periods to correct a default, and the materiality thresholds to trigger a default. These provisions can vary depending on the size, industry, and circumstances...
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...
Are you working on middle market loans? Check out this new practice note, by Patrick Yingling and Jared Zajac of Cadwalader, Wickersham & Taft LLP, that identifies and discusses trends in the syndicated loan and private credit middle market from late 2022 and...
Make sure you are up to date on the latest trends in commitment letters for acquisition financing. This practice note examines examples of select key provisions in commitment letters for acquisition financing, including SunGard provisions and bifurcated governing...
Have you been retained by a lender to respond to a borrower’s request for a waiver or forbearance agreement? Before negotiating with borrower’s counsel, you should first consider the conditions that are often negotiated or agreed upon in such waiver...
Make sure you are up to date on the latest trends in asset-based lending in the U.S. loan market. Asset-based loans (sometimes referred to as ABLs) are used by a wide variety of businesses, both in terms of size and credit quality, and may also be used for many...
Your client calls to inquire whether a joint venture is permitted under its existing credit facility. A credit agreement may present some obstacles to a borrower’s ability to acquire, form, or operate a joint venture. Read this practice note explaining how...
Watch this new video explaining the use of solvency certificates and solvency opinions in financing transactions. Often, as a condition precedent to closing, borrowers are required to deliver a solvency certificate to attest to the solvency of the loan parties...
Are you getting ready to close a deal? If so, make sure you are on top of all your deliverables, including the ancillary documents that are prepared and delivered in connection with the deal, such as the perfection certificate, closing checklist, closing certificates...
Check out this new video discussing the initial considerations that lenders and their counsel should take into account before entering into a cross-border lending transaction. Cross-border lending refers to any financing that spans international jurisdictions and...
Make sure you are up to date on the latest trends in equity cure rights in credit agreements. Equity cure rights permit an investment of cash in the borrower—typically made by a holding company, sponsor, or other shareholder—to allow the borrower to...
Read this article discussing standstill provisions in subscription facilities. In recent years, private equity fund requests for standstill provisions in subscription credit facilities have become more commonplace. A standstill provision offers a fund the first...