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Clark Hill PLC

How Bankruptcy Courts Interpret Intercreditor Agreements: The Uncertainty of Judicial Perspective

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Intercreditor Agreements typically are contractual arrangements among lenders of similar or differing priorities to a single borrower secured by the assets of the borrower, often including real estate assets. These multiple...more

Mayer Brown

Understanding How ‘Course of Performance’ Principles Impact Financings

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EXECUTIVE SUMMARY - When contract language is ambiguous and the court is tasked with finding the intended meaning, interpretation principles – such as “course of performance” – may be used. But did you know this principle...more

Amundsen Davis LLC

Forbearance Agreements: What Lenders Need to Know

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After an Event of DefaultContract occurs, it is important to understand the options available to the Lender other than demanding repayment or simply waiving the default. A Forbearance Agreement allows the Lender to preserve,...more

Sullivan & Worcester

Meeting the Challenges Covid-19 Poses for Trade Finance Transactions: Key Issues to Consider When Making Amendments and Waivers

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This article is the second in a series looking at how to address some of the issues affecting trade finance documentation and transactions in the current climate. The first article in this series analysed some of the...more

King & Spalding

REIT Advisor – August 2020 - Recent Amendment Trends for REIT Credit Facilities

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The onset of the novel Coronavirus pandemic (“COVID-19”) led to an abrupt shutdown of businesses worldwide and across numerous industries. The shutdown’s impact on the commercial real estate market generally, and on REITs...more

King & Spalding

Impact of COVID-19 on Financings Secured by Real Estate Assets

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A lot of discussions have taken place over the past seven months or so in light of COVID-19 and the market reaction to it. The purpose of this client briefing is to share some observations with you from our recent experiences...more

Seyfarth Shaw LLP

A Roadmap for CRE Loan Document Review in connection with Waiver, Forbearance and Modification Requests During the COVID-19...

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As income streams are interrupted due to loss of rents in the midst of business closures during the continuing pandemic, many borrowers are reaching out to their lenders to discuss debt service and other relief under their...more

Seyfarth Shaw LLP

New Rent Reduction Laws Proposed in New York May Be Better for Landlords, But May Still Be Challenged

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As discussed in prior updates, lawmakers in New York previously introduced bills that would, if enacted, temporarily suspend rent payments for certain residential and small business commercial tenants unable to pay rent due...more

White & Case LLP

Quid pro-quo: Conditioning Waiver Requests

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Faced with a rapidly evolving business landscape, lenders, borrowers, advisors and other stakeholders in the leveraged finance market are working hard to assess and monitor current and anticipated problems in existing loan...more

Patton Sullivan Brodehl LLP

Can a Loan Modification Waive the Borrower’s Right of Reinstatement?

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Loans secured by a deed of trust typically provide that upon default (commonly, missed interest payments) the lender may elect to “accelerate” the loan, making the entire balance of principal and interest due....more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 7, 2020

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Real Property Update - Fraudulent Transfer: Real property that was worth less than mortgage encumbering it was not an asset per the plain language of section 726.102(2) and, therefore, could not support fraudulent transfer...more

Snell & Wilmer

What Types of “Damages Claims” Survive a Trustee’s Sale?

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Arizona’s trustee’s sale statutory scheme provides for the waiver of all defenses and objections to a trustee’s sale that: (i) are not raised prior to the sale, and (ii) do not result in an injunction against the sale going...more

Stinson LLP

The Enforceability of Waiver of Defense Provisions in Guaranty Agreements

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It has been said that a guarantor is a fool with a pen. Even the Bible warns, "whoever puts up security for a stranger will surely suffer, but whoever refuses to shake hands in pledge is safe." Proverbs 11:15, NIV. That...more

Baker Donelson

CMBS Pre-negotiation Agreements

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Pre-negotiation agreements ("PNA’s") are contractual arrangements in which a lender and a distressed borrower agree to negotiate the terms of a potential workout or settlement. The primary purpose of a PNA is to foster an...more

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