News & Analysis as of

Debt Contract Terms Loans

White & Case LLP

Stop right there – intercreditor standstills that grind to a halt

White & Case LLP on

Standstill periods in private credit intercreditor agreements don't get much attention – they exist to allow senior lenders time to take enforcement action before super senior lenders can step in. But if you're not careful,...more

A&O Shearman

Good faith in secured finance?

A&O Shearman on

The court implied a good faith term constraining a lender’s discretion to refuse a borrower's request to dispose of assets in a secured financing context. A power to consider requests for disposals - A facility agreement...more

Morrison & Foerster LLP

Latest Uptier Decisions in Serta and Mitel Remind Contract Language Matters

The caselaw on “uptiers” as liability management exercises (LMEs) grew by two opinions on the last day of 2024. In Serta, the Fifth Circuit reversed the bankruptcy court’s blessing of the pre-bankruptcy uptier and...more

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