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
In response to changes in the marketplace, it’s possible that borrowers will employ debt buybacks as a way to ease their overall net leverage levels (either as a means to cure financial covenant defaults resulting from the...more
As market uncertainty continues, companies are taking proactive measures to ensure short- and medium-term liquidity, including by fully drawing on revolving credit facilities. In turn, financial institutions would be wise to...more