Representing Co-Lenders in Syndicated Credit Facilities
Consent Rights, Sacred Rights, Waterfall and Pro-Rata Sharing Provisions, Removal and Addition of Co-Lenders
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will examine syndicated loans from the co-lender's perspective. The panel will discuss deal points of particular concern to co-lenders, including trends in negative covenants and collateral leakage, voting rights, waterfall and pro-rata sharing provisions, intercreditor arrangements, and regulatory concerns for banks and other regulated entities.
Outline
- Consent rights and sacred rights
- Waterfall and pro-rata sharing
- Removal and addition of co-lenders
- Roles, rights, and responsibilities
- When things go wrong
Benefits
The panel will review these and other vital questions:
- Negative covenants: role of precedent; sponsor-friendly provisions; collateral leakage concerns
- Voting rights: key issues and trends in recent cases
- Waterfall and pro-rata sharing provisions
- Intercreditor arrangements
- Regulatory and compliance concerns for co-lenders
- Special issues for letter of credit issuers
Faculty
Dr. Alison R. Manzer
Partner
Cassels Brock & Blackwell
Ms. Manzer is a member of the Firm's Financial Services Group. Her practice encompasses a broad range of commercial... | Read More
Ms. Manzer is a member of the Firm's Financial Services Group. Her practice encompasses a broad range of commercial practice in the financial services sector, including financial institution regulation, corporate and commercial lending, asset-based financing, securitization and structured finance, private equity, project finance, asset finance and leasing, business reorganization, syndicated lending and related areas. A significant part of her practice involves multi-jurisdiction transactions where she has expertise in the structuring requirements of financing, investment and securitization transactions to solve taxation, conflicts of laws, document structure, currency and rate issues, among others.
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Valerie S. Mason
Member
Otterbourg
Ms. Mason is a member of the Banking and Finance department and specializes in the representation of domestic and... | Read More
Ms. Mason is a member of the Banking and Finance department and specializes in the representation of domestic and foreign banks, commercial finance companies, and hedge funds, in the structuring and restructuring of financing transactions, including revolving credit facilities and term loans for acquisitions, refinancings, and restructurings and general working capital needs, workout arrangements, acquisition financing, lender finance transactions, and Chapter 11 debtor-in-possession and “exit” financing facilities.
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Jeffrey A. Wurst
Partner
Armstrong Teasdale
Mr. Wurst has more than 30 years of experience and is well recognized for handling significant commercial finance and... | Read More
Mr. Wurst has more than 30 years of experience and is well recognized for handling significant commercial finance and bankruptcy matters. He is an esteemed fellow of the American College of Commercial Finance Lawyers and is a panelist on the American Arbitration Association’s National Roster of Arbitrators. Mr. Wurst has significant expertise in asset-based lending, factoring, and all other areas of commercial finance, bankruptcy matters, workouts and turnaround situations. He is actively involved in the documentation of commercial finance and leasing transactions, as well as litigation that may arise out of or in connection with such transactions.
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