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Commitment Letter

Cadwalader, Wickersham & Taft LLP

8th Annual European Fund Finance Symposium: The Latest From London May 2024 - Equity Commitment Letters – A Refresher

We have recently seen a notable uptick in the usage of equity commitment letters (ECLs) in fund finance transactions and have been spending an increasing amount of time discussing their merits with our clients’ credit teams....more

White & Case LLP

The Basics of Bridge Loans - European Leveraged Finance Client Alert Series: July 2022

White & Case LLP on

Bridge loans are a key way to finance large acquisitions, but their terms are very specialized. In "The Basics of Bridge Loans", the White & Case team explains the key terms of bridge loans and discusses some challenges faced...more

Jones Day

Government Contracts: GAO Issues Rare Decision Sustaining Corrective Action Challenge

Jones Day on

The Situation: Challenges to the scope of an agency's corrective action are notoriously hard to win at the U.S. Government Accountability Office ("GAO") because of the high level of deference normally afforded to agencies in...more

King & Spalding

Avoiding an Ambiguous Hold Harmless Clause: What Every Lender Should Consider

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Lenders rely on indemnification and hold harmless provisions in commitment and engagement letters to protect against claims that may be brought not only by third parties but by borrowers and their affiliates as well. Such...more

Kramer Levin Naftalis & Frankel LLP

District Court Upholds Damage Limitations for Lender’s Refusal to Fund: Lyondell Revisited

In the August 2017 issue of Debt Dialogue, we discussed the recent decision by Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York with respect to claims brought by the litigation trust (the...more

Butler Snow LLP

Demanding that a person “take it or leave it” in negotiations does not impose economic duress

Butler Snow LLP on

The Tennessee Court of Appeals, Middle Section: SK Food Corporation, et al. v. FirstBank, Case No. M2016-01019-COA-R3-CV, filed 02/28/2017, recently had the opportunity to consider whether a party, faced with a “take it or...more

Pillsbury Winthrop Shaw Pittman LLP

The Ties that Bind: Commitment Letters under English Law

A recent decision of the UK Commercial Court sounds a cautionary note to parties entering into pre-contractual deal documents on the assumption that they do not constitute legally binding obligations. In Novus Aviation...more

Goodwin

FDA BsUFA Goals Letter Outlines Plans for Guidance, Pushes Back Timeline on Interchangeability Guidance

Goodwin on

FDA has published its performance goals and procedures (commonly referred to as FDA’s “goals letter” or “commitment letter”) for the Biosimilar Biological Product User Fee Act (“BsUFA”) reauthorization for fiscal years 2018 –...more

Poyner Spruill LLP

Term Sheets and the Reimbursement of Due Diligence Costs

Poyner Spruill LLP on

In today’s fast-paced lending environment, lenders often are required to order third-party reports and engage outside counsel prior to completing formal underwriting and issuing loan commitments. A non-binding term sheet is...more

Poyner Spruill LLP

A Refresher on Term Sheets and Commitment Letters

Poyner Spruill LLP on

Term sheets and commitment letters are documents frequently used by lenders to outline the terms of a potential financing. However, these two documents differ with respect to what is required of, and whether the terms are...more

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