Since the end of 2017, we have been talking about the discontinuation of LIBOR as a reference rate for borrowers who finance with floating rate loans. The December 2021 end date is fast approaching, but much work remains to...more
7/29/2020
/ Alternative Reference Rates Committee (ARRC) ,
Borrowers ,
Credit Facilities ,
Derivatives ,
Floating Interest Rates ,
Hedges ,
Interest Rate Swaps ,
Interest Rates ,
ISDA ,
Lenders ,
Libor ,
Loan Agreements ,
Loan Documentation ,
Loan Modifications ,
Loan Provision ,
Secured Overnight Funding Rate (SOFR)
On April 21, 2020, the U.S. Senate overwhelmingly approved the ‘‘Paycheck Protection Program and Health Care Enhancement Act’’. Among other things, this emergency legislation adds an additional $310 billion in funding for...more
On April 2, 2020, the Small Business Administration (SBA) issued its Paycheck Protection Program (PPP) Interim Final Rule, which makes some key changes to the implementation of the PPP program announced in Sections 1102 and...more
We continue to monitor the Small Business Administration (SBA) website for updates to the Paycheck Protection Program and loan forgiveness provisions of the CARES Act. As a supplement to our March 30, 2020 Client Alert on...more
Among the many significant provisions of the Coronavirus Aid, Relief and Economic Security Act (CARES Act), signed into law on March 27, 2020, are the paycheck protection program and the terms and conditions for loan...more
As a part of New Jersey’s emergency package of legislation designed to address the COVID-19 pandemic, Governor Phil Murphy recently signed in law Assembly Bill A3845, which authorizes the New Jersey Economic Development...more