News & Analysis as of

Loan Agreements Contract Terms

Nelson Mullins Riley & Scarborough LLP

Avoiding Contract Conflicts: Five Key AIA Provisions to Align with Lease Agreements

This article continues a series offering practical guidance to developers, owners, and project teams on how to proactively harmonize American Institute of Architects (AIA) construction documents with the broader contractual...more

Cadwalader, Wickersham & Taft LLP

From Mistake to Misconduct, April 2025 - Beyond the Boilerplate

The term “boilerplate” originates from the printing industry, where “boilerplate” referred to metal plates with standardized text used for newspapers and other publications. In legal documents and contracts, boilerplate...more

Pillsbury Winthrop Shaw Pittman LLP

High Court of England and Wales Decision Clarifies “Lender Discretion”

Borrowers and lenders negotiating commercial loan agreements should use precise contractual language to avoid having terms implied into their agreements. In MacDonald Hotels Limited & Anr v Bank of Scotland Plc [2025] EWHC 32...more

Holland & Knight LLP

American Tire: Rubber Hits the Road in Non-Ratable Chapter 11 Liability Management Transaction

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Minority senior secured lenders in syndicated deals rely on, among other provisions, the "sacred right" protections contained in the credit documents to protect the benefit of their bargained-for agreement: primarily, that...more

Mayer Brown

Subscription Credit Facilities: The Importance of an Investor’s Agreement to Fund Without “Setoff, Counterclaim or Defense”

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EXECUTIVE SUMMARY - Subscription credit facilities rely on the obligations of investors to a private investment fund (“Fund”) to contribute their capital commitments to the Fund when called. From a subscription credit...more

Mayer Brown

Execution of Legal Assignments under Section 136 of the Law of Property Act 1925

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Legal assignments under section 136 of the Law of Property Act 1925 (LPA 1925) are used in many financing transactions, including secured lending transactions and transactions involving receivables purchase arrangements, and...more

A&O Shearman

Time is an illusion. Lunchtime doubly so*

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The court reassures lenders on the effect of a termination notice, the meaning of a continuing Event of Default and the effectiveness of reservation of rights letters: Re Pocket Renting. Appointment of administrator...more

Cadwalader, Wickersham & Taft LLP

The Twilight, or Rebirth, of Liability Management? Serta and Mitel Decisions Reach Opposite Conclusions on the Permissibility of...

Introduction & Key Takeaways - The year 2024 ended with some major legal fireworks, as two important courts issued contrasting New Year’s Eve decisions on the validity of “uptier” liability management transactions that have...more

Holland & Knight LLP

Making Lemonade from Lemons: A Mortgage Lender's Guide to Successful Loan Workouts, Part 3

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If you are a mortgage lender who followed the recommendations in the first two articles in this series, then you have performed due diligence on your mortgage portfolio and have taken note of the many options that are...more

Freiberger Haber LLP

First Department Reminds Practitioners that “proofreading is an essential, indispensable tool in the drafting of contracts”

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It should go without saying that people make mistakes. After all, people are human, and humans make mistakes. When people draft a document, especially a lengthy or complex one, it is not uncommon for a mistake to be...more

Katten Muchin Rosenman LLP

California Court of Appeal Ruling Limits Application of Default Interest

The California Court of Appeal recently ruled that California law treats default interest measured against the unpaid principal balance of a loan as an unenforceable penalty. In Honchariw v. FJM Private Mortgage Fund, LLC...more

Buchalter

Gru Was Wrong About the Money: Court Concludes that Lender Owes Contractor “Contractually, Factually and Practically”

Buchalter on

In BCD Associates., LLC v. Crown Bank, CA No. N15c-11-062 (Super. Ct. Del, May 2, 2022), the trial court found that when a bank pays a contractor directly, it can create a legally binding relationship subject to the terms of...more

Cadwalader, Wickersham & Taft LLP

What’s in a Name? Court Holds That Despite Its Title, a Security Agreement Also Subordinated Junior Creditor’s Rights to Payment

On October 29, 2021, Judge Laura Taylor Swain, the presiding judge in the Puerto Rico bankruptcy case, ruled that approximately $2 billion in intragovernmental loan claims were subordinated to bonds issued by the Puerto Rico...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

BCLP

Marking your letter “subject to contract”: what does the label mean? Recent English Court of Appeal judgment

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It is not uncommon to start a correspondence with a “subject to contract” label. But what does this mean? What is its legal effect?...more

BCLP

The relationship between cheques (and other bills of exchange) and arbitration clauses

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In T v W (HCA 366/2020, [2020] HKCFI 2918), the Hong Kong Court of First Instance considered the interesting question of whether a claim made on a dishonoured cheque was caught by and fell within the application of an...more

Carlton Fields

Third Circuit Upholds Pennsylvania Federal Court’s Finding That an Arbitration Agreement Is Unenforceable Where It Limits...

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In Williams v. Medley Opportunity Fund II, LP, plaintiffs Christine Williams and Michael Stermel obtained payday loans from American Web Loan, Inc. (AWL), an online entity owned by the Otoe-Missouria Tribe of Indians. The...more

Sullivan & Worcester

Meeting the Challenges Covid-19 Poses for Trade Finance Transactions: Key Issues to Consider When Making Amendments and Waivers

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This article is the second in a series looking at how to address some of the issues affecting trade finance documentation and transactions in the current climate. The first article in this series analysed some of the...more

Hinshaw & Culbertson LLP

Main Street Lending Program Expanded for Nonprofit Organizations

The Main Street Lending Program has been modified by the Federal Reserve Board (Board) to provide new access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations....more

Carlton Fields

Third Circuit Concludes Arbitration Agreement Is Unenforceable Under the Prospective Waiver Doctrine

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The Third Circuit Court of Appeals has refused to enforce an arbitration agreement because it impermissibly limited claims to those available under tribal law at the expense of federal statutory claims. The court also...more

Gould + Ratner LLP

Main Street Lending Program Now Provides Opportunities for Nonprofits

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Nearly three months after its initial announcement, on June 15, 2020, the Federal Reserve launched its Main Street Lending Program (MSLP), offering additional support for small and mid-size businesses struggling as a result...more

Akerman LLP

Tools for a Construction Lender’s Toolbox in the COVID-19 Era

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The coronavirus (COVID-19) pandemic has shut down non-essential construction projects in numerous states, and has severely delayed or otherwise impacted construction in almost every other state. These delays and impacts may...more

Shook, Hardy & Bacon L.L.P.

COVID-19 Client Primer | Considerations for Commercial Borrowers in the Midst of the COVID-19 Pandemic

Considerations for Commercial Borrowers in the Midst of the COVID-19 Pandemic - As the COVID-19 pandemic wreaks havoc on current and projected financial performance for many businesses, commercial borrowers are...more

Sullivan & Worcester

Navigating CRE Loan Covenants in the Era of COVID-19

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You’ve made it to the end of the quarter, and now it’s time to prepare your quarterly financial statements and send them off to your lender. Until recently, you may not have paid close attention to certain provisions in the...more

Hogan Lovells

Derivative considerations for end-users in times of disruption

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The coronavirus COVID-19 is causing disruption across many business contexts and it would be prudent to do a check of your contractual obligations to determine if there are any consequences of the current disruption. While...more

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