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Stay up to date with this practice note that describes how credit agreements and commitment letters have addressed the possibility of European lending institutions becoming subject to “bail-in” powers of European bank regulators, including...

Read this practice note that looks at recent market trends in most favored nation (MFN) clauses in publicly filed credit agreements through Q1 2023. An MFN clause gives existing loans the benefit of any higher pricing of the incremental loans if the “all...

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 comply with financial maintenance covenants in the credit agreement, thus preventing...

Do you need to know the latest and greatest on amend and extend provisions in credit agreements? Review this Market Trends practice note to gain insights on current market trends in amend and extend provisions found in publicly filed credit agreements...

Looking to perfect security interests in collateral? This four-minute video will teach attorneys the methods prescribed under the UCC to ensure that third parties are on notice of the existence of your security interest in collateral. READ NOW »...

Review this practice note providing a step-by-step guide to determine whether a borrower or other loan party may make an acquisition under an existing credit agreement—whether an acquisition of equity interests, a new subsidiary, a business unit...

The lien search is a necessary part of legal due diligence in the early stages of a financing transaction. Watch Practical Guidance’s new four-minute video on lien searches to learn the importance of conducting lien searches for Uniform Commercial...

The financial services industry is experiencing shock waves following the recent Federal Deposit Insurance Corporation (FDIC) insured bank failures. At a rate unseen since the 2008 financial crisis, three regional banks have succumbed to liquidity challenges...

A competitive bid loan facility is a feature that can be added to a credit agreement to provide additional pricing flexibility for investment grade borrowers. Competitive bid loans allow the borrower to solicit bids from its lenders to provide loans on...

Read this practice note for an overview of reserve-based loans (RBLs) in the oil and gas (O&G) industry. RBLs are a type of asset-based loan commonly used in the upstream O&G industry, especially among non-investment grade companies. This practice...

Be sure to watch this video when planning a financing transaction! It provides an overview of two segments of the loan market: investment grade loans and leveraged loans. Investment grade loans represent the safest segment of the loan market for lenders...

What questions are borrowers and lenders asking in the wake of the Silicon Valley Bank failure? Read this article discussing the key issues involved in the bank’s collapse, including background information, the impact on lending transactions in...

Unrestricted subsidiaries typically are designated by the borrower and excluded as subsidiaries for purposes of covenant compliance in the credit agreement. Unrestricted subsidiary provisions have become a very common feature in leverage lending, finding...

Shock waves are being felt across the financial services industry as three regional banks, Silvergate Capital Corporation, Silicon Valley Bank, and Signature Bank, succumb to liquidity challenges and were placed into receivership with the Federal Deposit...

Watch this new video providing an overview of debt securities and syndicated loans. Companies seeking to raise capital through financing have essentially three options: incur debt, issue equity, or do both. This video discusses the major financing options...

Covenant-lite features have become very common in leveraged lending, both in cash flow financings and asset-based lending. While the terms and structures of covenant-lite loans vary, aside from the lack of maintenance covenants, covenant-lite loans often...

Read this practice note outlining and analyzing the final draft of the 2022 Uniform Commercial Code (UCC) amendments concerning digital assets and other emerging technologies. The 2022 amendments provide a long-awaited framework for lenders to gain some...

Your client calls and asks whether a specific asset is properly perfected. This call could come from a lender, perhaps wondering whether it is secured ahead of a workout negotiation, or from the borrower itself, maybe interested in selling the asset free...

Review this practice note discussing recent market trends in refinancing amendment provisions in publicly filed credit agreements. Refinancing amendment provisions allow a borrower to refinance all or a portion of its outstanding loans under a credit...

Your client calls and asks whether the sale of an asset is permitted under its credit agreement or whether such a sale triggers a mandatory prepayment. A prohibition or restriction under an existing credit agreement could impact the structure or timing...

Are you a visual learner? Check out this visual checklist providing an overview of the due diligence to be performed by the lender and its counsel when evaluating a guarantor for a commercial real estate acquisition financing transaction. Read now »...

Watch this video for an overview of the use of confidentiality agreements in financing transactions. A confidentiality agreement is entered into between two parties to a potential transaction to ensure that information delivered during negotiations is...

By: The Practical Guidance Finance Team This article discusses the energy security and climate change initiatives included in the Inflation Reduction Act of 2022 1 (IRA) and brings together a collection of related resources that include additional guidance...

Review this new practice note providing an overview of municipal bonds. This practice note focuses on the features of general obligation bonds and revenue bonds and reviews some basic features and conditions of debt that is tax-exempt under the Internal...

Review this market trend practice note for an overview of covenant-lite loans in today’s market. The term covenant-lite broadly refers to borrower-friendly loan transactions having limited or no maintenance-based financial covenants. The practice...