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Nelson Mullins Riley & Scarborough LLP

Make-Whole Premiums in Bankruptcy: Clarity in Drafting, Certainty in Recovery

Nelson Mullins Riley & Scarborough LLP on

In the world of commercial lending, certain contract provisions often go unnoticed—until the moment they matter most. Make-whole premiums are one such example. Typically tucked deep in loan agreements, these provisions are...more

Cadwalader, Wickersham & Taft LLP

A Halloween Scare: Ambiguity in Loan Terms

Cadwalader, Wickersham & Taft LLP on

A recent decision in the Commercial Division of the Supreme Court, New York County, emphasizes the importance of clear and unambiguous contract drafting in all lending situations, including real estate. Acting Supreme Court...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Recent Rulings Underscore Importance of Careful Drafting of Make-Whole Payment Provisions"

Skadden, Arps, Slate, Meagher & Flom LLP on

Under long-established common law, loans must be paid only upon maturity, not before. This "perfect tender in time" rule is the default rule in a number of jurisdictions. Many indentures and credit agreements therefore either...more

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