Representing Co-Lenders in Syndicated Credit Facilities
Consent Rights, Sacred Rights, Waterfall and Pro-Rata Sharing Provisions, Removal and Addition of Co-Lenders
A live 90-minute premium CLE video webinar with interactive 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
Dr. Manzer is a partner in the Banking & Specialty Finance Group and Business Law practice. She has developed... | Read More
Dr. Manzer is a partner in the Banking & Specialty Finance Group and Business Law practice. She has developed expertise in a wide range of practice areas combining skills to work effectively in most corporate/commercial practice areas, with a focus on financial services and structured transactions. Dr. Manzer's recent experience includes block chain and fintech applications. Her cross-border expertise has led to several leadership roles in leading U.S. business law organizations such as the American College of Commercial Finance Lawyers and the American Bar Association. Dr. Manzer has written many books on legal topics, primarily in areas of banking and specialized finance, and routinely lectures and speaks on a wide range of topics.
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Charles Newman
Partner, Co-Chair Banking & Specialty Finance Group
Cassels Brock & Blackwell
Mr. Newman’s practice focuses on all types of secured and unsecured lending transactions, including cross-border... | Read More
Mr. Newman’s practice focuses on all types of secured and unsecured lending transactions, including cross-border transactions, project/infrastructure financings, syndicated loan transactions, debtor-in-possession financings, asset-based and real estate-based lending matters. He also does extensive work in the subordinated and convertible debt areas and in treasury management. In addition, Mr. Newman acts for Canadian and U.S.-based private equity funds in connection with their cross-border investments in equity, quasi-equity, and qualified debt obligations. He also routinely acts on behalf of lenders, borrowers, and receivers in connection with special account, work-out related, security enforcement and receivership files.
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James C. Schulwolf
Partner
Shipman & Goodwin
Mr. Schulwolf is a partner in Shipman's Business and Corporate Practice Group. He focuses his practice on... | Read More
Mr. Schulwolf is a partner in Shipman's Business and Corporate Practice Group. He focuses his practice on advising clients in financing, investment, acquisition, and restructuring transactions. In the Finance sector, Mr. Schulwolf regularly represents financial institutions including banks, mezzanine funds, and other institutional investors in structuring, documenting, and closing complex senior and mezzanine financings, including mezzanine financings with equity co-investments. He regularly represents lenders in connection with acquisition financings, financing of alternative energy projects (including wind, solar, and fuel cell projects), asset-based loans, cash flow loans, and syndicated credit facilities and he also represents Shipman's corporate clients and private equity portfolio companies in their financing transactions.
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Jeffrey A. Wurst
Attorney
Bodner Law
For nearly 40 years, Mr. Wurst has been a nationally recognized leader in the commercial finance community where he has... | Read More
For nearly 40 years, Mr. Wurst has been a nationally recognized leader in the commercial finance community where he has represented large and small banks and commercial lenders as well as family-owned businesses providing sound advice and counselling on both legal and business matters. He is widely recognized for his hands on representation in commercial finance and bankruptcy matters. Mr. Wurst is skilled in his handling and supervising of complicated as well as routine debt finance transactions and is regularly called upon to handle loan workouts, asset-based lending, factoring, syndications, leasing and C&I, as well as bankruptcy matters, and turnaround situations stemming from transactions. He is called upon to provide advice to emerging finance companies. Mr. Wurst has spent a lifetime representing lenders and borrowers in both federal and state insolvency proceedings, including debtor-in-possession financing, disputed use of cash collateral, assignments for benefit of creditors and secured party sales under Article 9 of the Uniform Commercial Code. He is a fellow of the American College of Commercial Finance Lawyers and a panelist on the American Arbitration Association’s National Roster of Arbitrators.
CloseEarly Discount (through 07/25/25)