Structuring Intercreditor Agreements in Split Collateral Lien Structures Between ABL and Term Lenders

Navigating Collateral Pool, Priority of Rights, Access to Collateral, Standstill Period, and Waterfall Provisions

A live 90-minute premium CLE webinar with interactive Q&A


Thursday, November 14, 2019

1:00pm-2:30pm EST, 10:00am-11:30am PST

Early Registration Discount Deadline, Friday, October 18, 2019

or call 1-800-926-7926

This CLE webinar will provide commercial lending counsel with a review of essential provisions in a split-collateral intercreditor agreement, including the priority of rights, access to collateral and standstill provisions. The panel will address the negotiation of provisions from the perspective of the asset-based lender (ABL) and term lender.

Description

Middle-market leveraged finance arrangements often contain multiple tranches of debt. Negotiating related intercreditor agreements has become more dynamic, and ABLs and term lenders often team up to provide multi-tranche financing through a split collateral lien structure.

In a split collateral lien structure, the ABL lender receives a first lien on the working capital assets--typically receivables, inventory, and related proceeds--and the term lender receives a first lien on the remaining assets. Each lender also gets a junior lien on the other lender’s pool of collateral.

Listen as our authoritative panel of commercial finance practitioners analyzes critical provisions in a split collateral intercreditor agreement from the perspectives of both the ABL and the term lender. The panel will discuss essential provisions, including among others, the priority of rights, access to collateral, payment blockage, and standstill provisions.

READ MORE

Outline

  1. Defining collateral pools
  2. The priority of rights issues
  3. Access to collateral
  4. Payment blockage
  5. Standstill and the senior lienholder's right to exercise remedies
  6. Waterfall provisions

Benefits

The panel will review these and other high priority issues:

  • Defining and delineating the collateral pools of the lenders
  • Understanding priority rights to proceeds from collateral or other receipts not allocated to either lender
  • Identifying and negotiating each lender's rights and remedies following a borrower default

Faculty

Hildebrandt, Jennifer
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

Ross, Christopher
Christopher G. Ross

Of Counsel
Paul Hastings

Mr. Ross' practice focuses on representing U.S. and foreign financial institutions and corporations in leveraged...  |  Read More

Live Webinar

Buy Live Webinar
Includes Early Discount Savings of $50 (through 10/18/19)

Live Webinar

$297

Buy Live Webinar & Recording
Includes special savings of $300 (through 10/18/19)

Live Webinar & Download

$394

Live Webinar & DVD

$394 + $19.45 S&H

Other Formats
— Anytime, Anywhere

Includes Early Discount Savings of $50 (through 10/18/19)

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

48 hours after event

$297

Download

48 hours after event

$297

DVD

10 business days after event

$297 + $19.45 S&H