Syndicated Loan Facilities With Lenders and Agents Facing Default
Minimizing Risks for Co-Lenders and Borrowers Through Credit Agreements and Post-Default Remedies
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course provide guidance to counsel for borrowers and co-lenders to respond to defaulting lenders or administrative agents. The panel will review remedies against a defaulting lender, drafting agreements to minimize risks, and the impact of bankruptcy and FDIC receivership on borrowers and co-lenders.
- Borrower’s risks and remedies
- Voting rights
- Commitment fees
- Replacement of lender
- Termination of lender
- Breach of contract
- Lender and administrative agent risks and remedies
- Definition of defaulting lender
- Definition of impaired lender
- Letters of credit and swingline loans
- Payment priority
- Other lenders funding the defaulted piece
- Non-ratable reduction of commitments
- Defaulting administrative agents
- Bankruptcy and Receivership
- FDIC rules
- Bankruptcy rules — relief from automatic stay
- Lehman as syndicated agent in bankruptcy
The panel will review these and other key questions:
- How can the definitions of "defaulting lender" and "impacted lender" affect the remedies of borrowers and co-lenders against defaulting lenders?
- What particular risks do swing line and issuing lenders face?
- What provisions should be added to existing credit agreements to provide maximum protection and flexibility to borrowers and co-lenders?
- How does the automatic stay of bankruptcy or FDIC rules affect the rights of borrowers or co-lenders to amend the credit agreement?
- How did the bankruptcy court handle the credit facilities where Lehman was administrative agent?
Susan C. Alker
She has extensive experience representing major banks, financial institutions, private equity funds and hedge funds in... | Read More
She has extensive experience representing major banks, financial institutions, private equity funds and hedge funds in corporate lending transactions. She advises clients in connection with syndicated credit facilities, leveraged acquisition financings, cross border loans, asset-based loans, investment grade credit facilities, debtor-in-possession credit facilities, and real estate financings.Close
Her practice focuses on commercial lending and financial transactions. She has extensive experience representing... | Read More
Her practice focuses on commercial lending and financial transactions. She has extensive experience representing commercial banks and finance companies, mezzanine funds, and borrowers in a wide variety of lending transactions, including the structuring, negotiating and documenting of senior, subordinated, secured, second lien, and unsecured syndicated financial and other lending transactions.Close
Colleen H. McDonald
She specializes in securitization, structured finance, commercial finance transactions and complex financial products.... | Read More
She specializes in securitization, structured finance, commercial finance transactions and complex financial products. She advises clients on commercial and regulatory aspects of securitization transactions, including corporate and securities laws, uniform commercial code, investment company act, bank regulatory issues, creditor’s rights, and bankruptcy.Close