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Investment Funds Contract Terms

Cadwalader, Wickersham & Taft LLP

Subscription Agreements 101 – Back to Basics July 2024 - Subscription Agreements

We have said it before – the “credit cornerstone” of a subscription credit facility is the limited partnership agreement (the “LPA”) – it is the primary contract, together with any side letters, governing the relationship...more

Goodwin

Subscription-Secured Credit Facilities: Recent Developments in the US Market and Considerations for Real Estate Funds

Goodwin on

Fund-level subscription-secured revolving lines of credit are a well-established instrument in the toolkits of a variety of private equity fund sponsors and managers, including for venture capital funds, hedge funds, debt...more

Cadwalader, Wickersham & Taft LLP

Foreign Sovereign Immunity Garden Guide September 2023 - Laying the Groundwork on Foreign Sovereign Immunity

The doctrine of sovereign immunity is a foundational element of the interplay between a governmental investor’s contractual obligation to satisfy capital calls and a fund’s or lender’s ability to enforce that obligation...more

Barnea Jaffa Lande & Co.

Default Arrangements in Israeli Investment Funds – Unwritten Provisions in Partnership Agreements

Israeli investment funds are incorporated as limited partnerships under the Israeli Partnerships Ordinance. Investors are “limited partners” and the fund manager (or another corporation acting on its behalf) is the “general...more

Cadwalader, Wickersham & Taft LLP

Forbear and Move Forward April 2023 - Forbearance Agreements: Bringing the Deal Parties Together

During times of market disruption and economic uncertainty, the representations and covenants set forth in a credit agreement play an even more important role in the ongoing relationship among the loan parties and lenders....more

Cadwalader, Wickersham & Taft LLP

Mark This Date March 2023 | Issue No. 213 - Backdating: What To Do … and Not To Do

Attorneys are regularly asked about or faced with the request to backdate a document or set of documents. We are also at times asked about the acceptableness of a document that has been backdated. This article explores the...more

Cadwalader, Wickersham & Taft LLP

Be Prepared - November 12, 2021 | Issue No. 152 - LP Givebacks Anyone?

This article follows the considerations set out in Chad Stackhouse’s Fund Finance Friday article, “Getting It Right: Recallable Capital Provisions,” published on 9 July 2021....more

Cadwalader, Wickersham & Taft LLP

An Active October - October 2021 | Issue No. 148 - A Brief Primer on Cayman Security

Many subscription facilities governed by New York law grant the lender a security interest in rights to call capital from the limited partners of exempted limited partnerships formed under the laws of the Cayman Islands....more

Cadwalader, Wickersham & Taft LLP

Let the Games Begin July 2021 | Issue No. 136 - Revlon: It’s Worth a Double Take (Part II: Borrower Considerations)

In last week’s edition of FFF, we discussed the Revlon case involving an erroneous payment by an administrative agent to the syndicate lenders, which is currently up on appeal before the Second Circuit Court of Appeals....more

Cadwalader, Wickersham & Taft LLP

Total Recall July 2021 | Issue No. 134 - Getting It Right: Recallable Capital Provisions

As a way to increase the availability of uncalled capital and deploy additional capital for new and existing investments, limited partnership agreements will typically permit the general partner to recall proceeds from...more

Cadwalader, Wickersham & Taft LLP

Ten Things Every Fund Finance Banker Should Know About the UCC

The initiative to draft a code that would unify commercial transactions across U.S. states came about in 1942. The drafters went to work in a remarkable setting that, aside from a global war, was marked by clashes of...more

White & Case LLP

PFI: benchmarking and market testing, a cause of conflict in the long run?

White & Case LLP on

The ongoing Scottish case of Serco Limited v Forth Health Limited highlights the difficulties that can arise when applying benchmarking and market testing provisions in long-term maintenance and service agreements. ...more

Dechert LLP

Seeding and Acceleration Deals

Dechert LLP on

The concept of seeding is straightforward. A fund manager receives an allocation from one or more investors of sufficient size in order to ensure the launch of his hedge fund strategy. Unfortunately, that is where the...more

Bracewell LLP

COVID-19 Impact on US Renewable Energy Projects

Bracewell LLP on

The COVID-19 pandemic is raising numerous concerns for renewable energy projects under development in the United States. First, will Congress address renewable energy industry concerns in the coming round of the COVID-19...more

McDermott Will & Emery

COVID-19 and Wind Projects: A Legal and Commercial Checklist for Tax Equity, Debt Financing and Project Documentation

The Coronavirus (COVID-19) pandemic has severely disrupted the wind market’s supply chain and labor resources, resulting in significant project delay risk. This legal and commercial checklist is a comprehensive practitioner’s...more

Kramer Levin Naftalis & Frankel LLP

SEC Accuses Issuer and CEO of Violating Whistleblower Protection Laws to Silence Investor Complaints

On Nov. 4, 2019, the Securities and Exchange Commission (SEC) filed an amended complaint against Collectors Café and its CEO, Mykalai Kontilai, to add charges against defendants for alleged violations of whistleblower...more

Carlton Fields

Ninth Circuit Steps In-Line on Arbitrability of ERISA Claims

Carlton Fields on

The Ninth Circuit, in back-to-back opinion and memorandum decisions in Dorman v. Charles Schwab Corp., overruled long-standing precedent that ERISA claims are not arbitrable. The plaintiff, a former Schwab employee, filed a...more

Dechert LLP

Financial Services Quarterly Report - Third Quarter 2016: Managing the Compliance Aspects of Private Equity Investments

Dechert LLP on

International business transactions can be subject to intense scrutiny due to the broad scope of the U.S. Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act, in addition to other similar anti-corruption measures...more

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