Structuring Financial Covenants, Cash Management, and Other Lender Protections in Mortgage Documents
Nonrecourse Carveouts, Leasing Provisions, Secondary Financing, Escrow Disbursement Conditions
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE webinar will consider key loan document provisions that provide borrowers flexibility and/or lender protections in times of economic uncertainty, including financial covenants, cash management provisions, additional indebtedness, and nonrecourse carveouts, as well as loan disbursement conditions.
- Financial covenants: DSCR, LTV, other
- Construction and other loan disbursements: loan balancing conditions, force majeure
- Cash management: lockbox triggers
- Leasing covenants and occupancy requirements
- Reps and warranties
- Recourse carveouts
- Additional financing: PPP and Main Street Lending Programs
The panel will review these and other documentation issues:
- How should loan documents address commercial and retail tenant defaults?
- What changes may be necessary to DSCR and other covenants to avoid loan defaults or cash management triggers?
- How should loans involving future disbursements be tailored to address the current economic uncertainty?
- What revisions should be made to subordinate financing provisions to accommodate PPP and other CARES Act financing?
Michael A. Morabito
Stradley Ronon Stevens & Young
Mr. Morabito represents commercial lenders and borrowers in connection with asset-based and real estate financing. He... | Read More
Mr. Morabito represents commercial lenders and borrowers in connection with asset-based and real estate financing. He has represented clients with respect to syndicated credit facilities, M&A financings and Chapter 11 exit financings. Mr. Morabito also has substantial structured finance experience and has represented rating agencies, issuers, hedge funds, servicers, and special servicers in RMBS, CMBS and ABS transactions, resecuritizations and whole business securitizations.Close
Holland & Knight
Ms. Otero primarily practices in the areas of real estate, finance and banking law, with a focus on all aspects of... | Read More
Ms. Otero primarily practices in the areas of real estate, finance and banking law, with a focus on all aspects of commercial lending and real estate transactions. She counsels local, national and international financial institutions and lenders in commercial lending transactions, including construction and permanent real estate financing, healthcare real estate finance and asset-based lending. She also represents borrowers, purchasers and sellers in the acquisition, development, disposition and financing of commercial and residential real estate.Close