News & Analysis as of

Loan Documentation

Greenbaum, Rowe, Smith & Davis LLP

The Clock Is Ticking Towards the End of LIBOR; What Borrowers Can Do Now to Mitigate the Risks

Since the end of 2017, we have been talking about the discontinuation of LIBOR as a reference rate for borrowers who finance with floating rate loans.  The December 2021 end date is fast approaching, but much work remains to...more

Winstead PC

Updating Lenders' Form Loan Documents

Winstead PC on

Watch Winstead Real Estate Finance Shareholder Sayer Nixon’s in-depth recommendations on updating form loan documents in light of the current COVID-19 business environment as it relates to real estate collateral and secured...more

Sheppard Mullin Richter & Hampton LLP

Interplay of Main Street Lending Program Documents (the Rights and Role of the Main Street SPV)

The $600 billion Main Street Loan program has been highly anticipated to provide financial support in the form of loans to small and medium-sized U.S. businesses affected by the COVID-19 pandemic. The Federal Reserve Bank of...more

White & Case LLP

Longer and longer: the ever lengthening loan agreement

White & Case LLP on

Leveraged loan agreements form key aspects of capital structures, balancing lender protection against allowing the borrower to run its business according to its business plan. In recent times, the length of such loan...more

Akin Gump Strauss Hauer & Feld LLP

Exploring European Bonds, Loans and Covenants

Akin Gump London-based financial restructuring partner Liz Osborne and finance partners Amy Kennedy and Stephen Peppiatt discuss European bonds, loans and the various flavors of covenants in the current liquidity constrained...more

Spilman Thomas & Battle, PLLC

The Use of Receiverships in Pre-Bankruptcy Litigation

As we continue our series on bankruptcy litigation, we want to discuss the use of receiverships as an important aspect of a fully developed creditors' rights practice. Creditors often face recalcitrant corporate debtors who...more

Bryan Cave Leighton Paisner

Finance Agreements - Practical Considerations for Borrower’s In-house Counsel in times of Unprecedented Economic Challenges

In times of economic challenge, borrowers may face both decreased asset values and reduced liquidity and, hence, may have a different risk profile to the one they had at the time when the loan was initially agreed. The issues...more

Ballard Spahr LLP

CT federal district court rules state’s demands to PHEAA for federal student loan documents preempted by federal law

Ballard Spahr LLP on

The Connecticut federal district court has ruled in Pennsylvania Higher Education Assistance Agency v. Perez that demands by the Connecticut Department of Banking (DOB) to the Pennsylvania Higher Education Assistance Agency...more

Rosenberg Martin Greenberg LLP

Reinforcing Compliance for the Paycheck Protection Program: What Recent Public and Political Developments Mean for Loan Recipients

Takeaway:  Recently implemented rules, public statements of government officials, and the return of funds by some should not compel most businesses to change course; however, recipients of funds from the Paycheck Protection...more

Lowenstein Sandler LLP

A Mortgage Loan Documentation Pitfall

Lowenstein Sandler LLP on

A consequence of the COVID-19 pandemic is that many companies are unable to operate their businesses partially or completely. As a result, they have been compelled to seek relief from their landlords, vendors and...more

Polsinelli

Texas Supreme Court Confirms Texas Home-Equity Lenders Are Entitled to Equitable Subrogation Irrespective of Failures to Correct...

Polsinelli on

Last week, the Texas Supreme Court issued a significant decision in favor of Texas home-equity lenders in Federal Home Loan Mortgage Corporation v Zepeda, No. 19-0712, answering “yes” to the following certified question from...more

Winstead PC

[Webinar] Administering A Trust In a Recession: Issues Surrounding Trust Loans To Beneficiaries - April 21st, 10:00 am - 10:45 am...

Winstead PC on

This presentation will address beneficiaries requesting loans from trustees. There are multiple issues that arise regarding the trustee’s authority to do so under the trust’s language and statutory and common law, and the...more

McNees Wallace & Nurick LLC

Coronavirus Credit Checklist For Businesses

The following is not a white paper or an invitation to participate in a webinar. It is offered as a useful checklist for businesses to evaluate potential additional credit needs and to understand problems that could arise...more

Thompson Coburn LLP

The impact of COVID-19 on MAC clauses and lending transactions: A lender’s perspective

Thompson Coburn LLP on

To mitigate the financial fall-out of the COVID-19 pandemic, many lenders are reviewing their existing loan portfolios, assessing their obligations to continue funding under loan commitments, and taking affirmative steps to...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Coronavirus Impacts on Loan Documentation (Financial Reporting)

The disruptive impact of the current novel coronavirus (“COVID-19”) global pandemic on virtually all aspects of the social and economic fabric of the United States and most of the rest of the world is unprecedented in recent...more

Latham & Watkins LLP

Credit Insights – What Borrowers and Lenders Should Know About MACs During COVID

Latham & Watkins LLP on

Material adverse change provisions in credit agreements are under much heightened scrutiny in the current circumstances. In the current environment, both corporates and their lenders are trying to assess a fast-moving...more

Bryan Cave Leighton Paisner

Enforcement of MAC Clauses in Loan Agreements in Light Of COVID-19 and Related Business Disruption

COVID-19 and the related disruption have resulted in enormous pressure on society and businesses. Material adverse change (“MAC”) clauses in loan agreements present important issues that borrowers and lenders alike need to...more

King & Spalding

Cancellations, Quarantines and Closings - Coronavirus Considerations for Hospitality Lenders

King & Spalding on

Due to the novel coronavirus outbreak, the hospitality industry is potentially facing its worst crisis since the September 11, 2001 terrorist attacks. In response to the continuing outbreak, major companies have announced...more

Kilpatrick Townsend & Stockton LLP

This Servicing Counselor identifies issues a servicer considers when a borrower requests a release of part of the collateral that...

Example 1. Borrower’s loan documents provide that borrower may obtain the release of noteholder’s lien on a portion of the collateral (Parcel C) if: (1) borrower pays a $1.5 million release price to pay down part of the...more

Patterson Belknap Webb & Tyler LLP

Clarity Of Drafting And Reliance On A Spouse For Bankruptcy Protection - A Cautionary Tale

The importance of clarity in drafting agreements can never be understated. And while there are strategies available to spouses of business owners to help protect a family in bankruptcy, it is imperative to properly plan and...more

Snell & Wilmer

Financing Real Estate Projects in Los Cabos, Mexico

Snell & Wilmer on

The development of real estate projects, including hotels and master planned communities in Los Cabos and other places in Mexico, commonly requires financing by banks and other institutional lenders. This article presents an...more

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