Podcast: Credit Funds: Pro Rata Sharing Provisions – Key Points for Lenders
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
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
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
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
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
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
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
We give an overview of the possible effects of the corona crisis on existing facility agreements under German law if borrowers get into financial difficulties due to the crisis. ...more
The COVID-19 pandemic and the responses adopted by governments around the world to mitigate its human cost will have a considerable impact on economic activity. We are seeing the forced closures of businesses and restrictions...more
Force majeure clauses are provisions in contracts that either defer or release parties from contractual obligations due to specific circumstances beyond the control of the breaching party. Such clauses allocate the risks of...more
Whilst the world reels from the impact of the COVID-19 coronavirus and rightly focuses on preserving lives, many businesses will nevertheless need at the same time to fight to stay afloat as the repercussions of the virus hit...more