Asset-Based Lending: Navigating Borrowing Base, Article 9 Collateral Issues, Key Provisions
A live 90-minute premium CLE video webinar with interactive Q&A
This CLE course will discuss asset-based lending (ABL) transactions, including issues associated with the borrowing base, obtaining and perfecting a security interest in the assets under the UCC, and essential terms in ABL documentation. The speakers will discuss ABL facilities for restructurings, special situations, debtor-in-possession facilities, and exit facilities. The speakers will also discuss the impact of the pandemic and the current state of the financial market on ABL deals.
Outline
- Types of ABL facilities
- Borrowing base
- Accounts receivables
- Inventory
- Equipment
- Cash
- Obtaining and perfecting a security interest in assets under UCC Article 9
- Loan documentation
- Reserves and dilution
- Reporting
- Conditions precedent to drawing on the revolver
- Cash management
- Financial covenants in ABL deals
- Split collateral intercreditor agreements
- The impact of the pandemic and financial market on borrowing base deals
Benefits
The panel will review these and other relevant issues:
- Critical issues with different assets in the borrowing base
- Obtaining and perfecting a security interest in the assets under UCC Article 9
- Cash management provisions and deposit account control agreement in ABL loan documentation
- Split collateral intercreditor agreements
Faculty
Katherine E. Bell
Partner
Paul Hastings
Ms. Bell's practice focuses on commercial and corporate finance transactions. She regularly represents... | Read More
Ms. Bell's practice focuses on commercial and corporate finance transactions. She regularly represents commercial banks, investment banks, finance companies, other lenders, and borrowers in working capital facilities (cash flow and asset-based), acquisition financings, structured financings, and other leveraged finance transactions including leveraged buyouts, restructurings, and recapitalizations. She has significant experience negotiating intercreditor relationships, including 1st Lien/2nd Lien transactions, split collateral arrangements, and unitranche “A/B” transactions.
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Jennifer B. Hildebrandt
Partner, Corporate Department
Paul Hastings
Ms. Hildebrandt represents banks, commercial finance companies, hedge funds, and other lenders in commercial and... | Read More
Ms. Hildebrandt represents banks, commercial finance companies, hedge funds, and other lenders in commercial and corporate finance matters, leveraged finance transactions, asset-based finance transactions, multi-tranche and multi-lien transactions, and restructurings. In particular, she has extensive experience representing lenders in two lien deals, unitranche transactions, and bank / bond deals.
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Jennifer St. John Yount
Partner, Chair of Finance and Restructuring
Paul Hastings
Ms. Yount’s practice consists of representing banks, finance companies, and other lenders in working capital... | Read More
Ms. Yount’s practice consists of representing banks, finance companies, and other lenders in working capital financings, acquisition financings, bank/bond transactions, restructurings, and debtor in-possession and exit financings. Ms. Yount has negotiated numerous intercreditor and subordination agreements in 1st Lien/2nd Lien, split collateral, and mezzanine financings and agreements among lenders in unitranche and FILO financings.
CloseEarly Discount (through 07/15/22)
Cannot Attend August 11?
Early Discount (through 07/15/22)
You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. Strafford will process CLE credit for one person on each recording. All formats include course handouts.