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By: David K. Duffee , Mayer Brown
Bankers, lawyers, and others involved in the loan market’s transition from the London Interbank Offered Rate (LIBOR) to another reference rate have spent much of the past two years thinking about and drafting fallback provisions—the section of a loan agreement...
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...
By: Michael Chernick , Tomasz Kulawik , Mohamed El-Sayed , and Lisseth A. Rincon Manzano , Shearman & Sterling LLP
This article describes the terms of the facilities available under the Main Street Lending Program, in addition to providing practice tips to lawyers whose clients are (or are considering...
By: Michael Chernick and Brittany Roger, Shearman & Sterling LLP
This article provides an overview of certain key provisions of credit agreements that will need to be reviewed to determine how the novel coronavirus (COVID-19) crisis—and the economic turmoil in its wake—affects a borrower’s...
By: Amara Gossin , Barclays and Bob Lewis Sidley , Austin LLP
Sustainability-themed debt instruments represent one response of the financial community to the need to channel capital towards facilitating a carbon transition. Since green bonds debuted in 2012, the types and numbers of these instruments...
By: Leslie J. Levinson , Robinson & Cole LLP
This article describes how to structure financing transactions for healthcare providers to overcome anti-assignment and collection limitations on Medicare and Medicaid receivables.
THE UNIFORM COMMERCIAL CODE (U.C.C.) GENERALLY prohibits restrictions...
By: Cynthia Borrelli and Michael J. Morris , Bressler Amery & Ross, P.C.
To find this article in Lexis Practice Advisor, follow this research path:
RESEARCH PATH: Insurance > Managing Insurance Representatives > Checklists
By: Jason Amster , Lexis Practice Advisor
This article describes the Secured Overnight Financing Rate (SOFR), a broad credit-risk measure that is a frontrunner to replace the London Interbank Offered Rate (LIBOR). The article addresses how SOFR is calculated, how it compares with LIBOR, and its advantages...
PUBLIC SECTOR UNIONS CANNOT IMPOSE FEES ON NON-MEMBERS, SUPREME COURT RULES
PUBLIC SECTOR UNIONS CANNOT REQUIRE NON-MEMBERS to contribute to expenses related to union business, the U.S. Supreme Court ruled, overturning a 41-year-old decision. Janus v. AFSCME, Council 31, 2018 U.S. LEXIS 4028 (June...
SUPREME COURT AFFIRMS CONSTITUTIONALITY OF AIA PATENT REVIEW PROCESS
A PROVISION IN THE AMERICA INVENTS ACT (AIA) allowing for pre-trial review of existing patents does not violate Article III or the Seventh Amendment of the U.S. Constitution, the U.S. Supreme Court has held.
In Oil States Energy...
By: Patrick Yingling and Aleksandra Kopec King & Spalding
What is the “middle market” of the U.S. leveraged loan market? While there is no checklist for what constitutes the middle market, the two basic parameters are that the borrower has between $10 million and $100 million of annual...
U.S. DEPARTMENT OF LABOR SETS NEW GUIDELINES FOR INTERN COMPENSATION
THE U.S. DEPARTMENT OF LABOR (DOL) HAS ADOPTED new guidelines for determining whether interns working at for-profit companies are entitled to compensation under the federal Fair Labor Standards Act (FLSA).
The DOL abandoned its...
D.C. COURT ORDERS EEOC TO RECONSIDER WORKPLACE WELLNESS RULES
IN AN ACTION BROUGHT BY THE AMERICAN ASSOCIATION of Retired Persons (AARP), the U.S. District Court for the District of Columbia has ordered the U.S. Equal Employment Opportunity Commission (EEOC) to reconsider two regulations related to...
By: Patrick Dolan and Ramy Ibrahim , Norton Rose Fulbright Us LLP
THE AIRCRAFT LEASE SECURITIZATION MARKET IS EVOLVING as evidenced by an increase in these transactions over the last few years. Indications are that 2017 may surpass 2016 in total number of aircraft lease securitizations. Three potentially...
SUPREME COURT TO RULE ON VALIDITY OF CLASS WAIVERS IN EMPLOYMENT CONTEXT
By: Lexis Practice Advisor Staff
THE U.S. SUPREME COURT IS expected to decide this term whether the collective-bargaining provisions of the National Labor Relations Act (NLRA) prohibit enforcement of agreements requiring employees...
By: Daniel A. Rabinowitz and David S. Berg KRAMER LEVIN NAFTALIS & FRANKEL LLP
Credit Agreements in the Insurance Industry
This article explains how to modify a standard credit agreement to account for a borrower that is an insurance company or an insurance holding company. Examples illustrate...
SEXUAL ORIENTATION DISCRIMINATION UNDER TITLE VII REMAINS HOT-BUTTON ISSUE
By: Bender’s Labor & Employment Bulletin, Volume 17, Issue 7
RECENTLY, THREE OF THE U.S. CIRCUIT COURTS OF APPEAL addressed the issue of whether discrimination on account of an individual’s sexual orientation...
By: John Popeo
Brokered deposits are often viewed by insured depository institutions (IDIs) as a cost-effective source of liquidity and funding. Federal bank regulatory agencies, however, consider brokered deposits to be a less stable source of funding that contributed to the 2008 global...
THE UNITED STATES PATENT AND TRADEMARK OFFICE (USPTO)
With the enactment of the America Invents Act in 2011, the PTAB was charged with conducting proceedings to address challenges to existing patents. Those proceedings “have significantly changed the patent landscape by providing a faster, cost...
HHS AGENCY PROPOSES RULE TO STABILIZE INSURANCE MARKETPLACE
THE CENTERS FOR MEDICARE & MEDICAID SERVICES (CMS) issued a proposed rule aimed at stabilizing individual and small group health insurance markets in anticipation of Congress’ possible repeal and replacement of the Affordable Care...
By: Dwight Smith , Nelson Mullins Riley & Scarborough LLP.
Bank financing can take several forms, including commercial loans, repurchase agreements, and securities borrowing transactions, all of which are subject to regulation at the federal and state levels. This article provides an overview of...
FEDERAL COURT FAST TRACKS REVIEW OF RULING BLOCKING IMPLEMENTATION OF OVERTIME REGULATIONS
THE FIFTH CIRCUIT COURT OF APPEALS ISSUED A BRIEF order December 8 granting expedited review of a November 22 ruling by a federal judge in the Eastern District of Texas preliminarily enjoining implementation...
STUDY ON INJECTION WELL INDUCED EARTHQUAKES
THE U.S. GEOLOGICAL SURVEY (USGS) RECENTLY released its short-term forecast for seismic activity. For the first time, it includes a discussion of “Induced Earthquakes.” The study, which comes after a significant hike in the incidence of earthquakes...
By: Linda Curtis and Andrew Cheng , Gibson, Dunn & Crutcher LLP.
Acquisition Financing: Buyer and Seller General Perspectives
It is understandable that before lenders will agree to lend millions, and sometimes billions, of dollars to fund an acquisition, they require satisfaction of certain...
By: Stephen Gillespie and Amy Kennedy , Gibson, Dunn & Crutcher.
1. What are the typical debt components of acquisition financing in the United Kingdom?
Acquisitions in the United Kingdom are typically financed either by way of leveraged loan or high yield bond (or by a combination of both...