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Borrowers › Asset-Based Lending

UB Greensfelder LLP

Resolving Financial Covenant Defaults in Revolving Lines of Credit: Real-World Strategic Considerations for ABL Borrowers

UB Greensfelder LLP on

The scenario is common enough: following a slow quarter, a borrower misses a debt service coverage ratio (DSCR), fixed charge coverage ratio (FCCR), or other financial covenant test required under its revolving credit...more

Cadwalader, Wickersham & Taft LLP

One and Done: Lending for the Full Fund Lifecycle January 12, 2024 - Building in Flexibility in Credit Facilities

Cadwalader, Wickersham & Taft LLP on

As more subline lenders are beginning to cover asset based lending, banks are keen to create streamlined template documentation with the flexibility to accommodate the borrowing needs of their clients throughout a fund’s...more

Skadden, Arps, Slate, Meagher & Flom LLP

Asset-Based Lending: A Powerful Tool With Increasing Flexibility

Skadden, Arps, Slate, Meagher & Flom LLP on

Asset-based lending has historically provided to borrowers a number of benefits that are generally not available under cash flow loans, including lower pricing, a general lack of financial maintenance covenants (other than a...more

Greenberg Glusker LLP

Beware of the ABL Trap: The Challenges of Retail Chapter 11 Debtors and Asset Based Lending

Greenberg Glusker LLP on

An asset based loan (“ABL”) is often the financing of choice for retail borrowers – and for good reason. In its simplest form, an ABL is a credit facility, usually in the form of a revolving line of credit, the availability...more

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