Negotiating and Managing Loans
in a Distressed Credit Market
CD of Teleconference with Q&A
Click here for program outline
Conducted on Tuesday, October 14, 2008
Now available on CD
Sponsored by the Legal Publishing Group of Strafford Publications
The subprime lending crisis has pushed lenders in the commercial real estate market to attempt to renegotiate or cancel risky commercial mortgage loans, and material adverse change (MAC) clauses have become a common strategy to abandon lending commitments.
Questions about what constitutes a material adverse change have been at the center of several efforts to renegotiate mortgage loans. Unfortunately, the courts have not provided clear guidance on the issue, leaving the interpretation of material adverse change up to lenders and borrowers.
It is important for lenders and borrowers to carefully negotiate the MAC clauses contained in mortgage loan agreements to protect their individual interests.
Listen as our panel of attorneys discusses current trends surrounding MAC clauses in commercial mortgage loans and best practices for negotiating and managing loans.
The panel included:
Douglas S. Buck, Partner, Foley & Lardner, Madison, Wis. He has broad experience with real estate transactions involving lending and financing. He is experienced in negotiating and documenting real estate workouts, foreclosures and restructurings.
Christopher T. Nixon, Shareholder, Winstead, Dallas. He represents national lenders in originating and servicing loans in the Commercial Mortgage-Backed Securities (CMBS) market for all types of income-producing properties across the United States.
Susan C. Tarnower, Attorney, McGuire Woods, Atlanta. She practices in the area of real estate finance, focusing on commercial real estate loans. She previously worked as in-house counsel for GMAC Commercial Mortgage Corporation and AMRESCO, Inc.
Charles Altman, Partner, Altman Law Group, White Plains, N.Y. He is a real estate attorney with legal, business and technology experience in real estate lending. He has served at Tikon Mortgage Technologies, Lehman Brothers, Prudential, MetLife and the FDIC.
The panel reviewed these and other key questions:
- How is the volatility of the current credit market impacting commercial real estate loans?
- What is the current state of the law regarding MAC clauses?
- How can counsel for lenders and borrowers best mitigate risk when negotiating MAC clauses and other loan terms?
TELECONFERENCE CD
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