News & Analysis as of

Lenders Contract Terms Financing

Mandelbaum Barrett PC

Spotlight on Hotel Comfort Letters

Mandelbaum Barrett PC on

A hotel comfort letter is a document issued by a hotel franchisor to a lender when a hotel owner (the borrower) seeks financing. It provides the lender with assurances about the relationship between the franchisor, borrower,...more

Mayer Brown

Understanding How ‘Course of Performance’ Principles Impact Financings

Mayer Brown on

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

Cadwalader, Wickersham & Taft LLP

Navigating the Grey Area, March 2025 - Navigating the Grey Area: Financial Covenant Amendments and the Doctrine of Purview

The doctrine of purview under English law plays a critical role in determining whether amendments to a secured facility require reaffirmation or re-execution of guarantees and security. However, when it comes to adjustments...more

Cadwalader, Wickersham & Taft LLP

Subscription Agreements 101 – Back to Basics July 2024 - Subscription Agreements

We have said it before – the “credit cornerstone” of a subscription credit facility is the limited partnership agreement (the “LPA”) – it is the primary contract, together with any side letters, governing the relationship...more

Goodwin

Cash Management in Hotel Financing

Goodwin on

The financing of hotels and resorts requires balancing the borrower’s need for flexibility to successfully operate the hotel against the lender’s desire to prevent cash leakage should conditions related to the borrower’s...more

Cadwalader, Wickersham & Taft LLP

Foreign Sovereign Immunity Garden Guide September 2023 - Laying the Groundwork on Foreign Sovereign Immunity

The doctrine of sovereign immunity is a foundational element of the interplay between a governmental investor’s contractual obligation to satisfy capital calls and a fund’s or lender’s ability to enforce that obligation...more

Cadwalader, Wickersham & Taft LLP

Forbear and Move Forward April 2023 - Forbearance Agreements: Bringing the Deal Parties Together

During times of market disruption and economic uncertainty, the representations and covenants set forth in a credit agreement play an even more important role in the ongoing relationship among the loan parties and lenders....more

Katten Muchin Rosenman LLP

California Court of Appeal Ruling Limits Application of Default Interest

The California Court of Appeal recently ruled that California law treats default interest measured against the unpaid principal balance of a loan as an unenforceable penalty. In Honchariw v. FJM Private Mortgage Fund, LLC...more

Cadwalader, Wickersham & Taft LLP

Real Estate Reserves October 2021 - Basics of Reserves

Reserves are amounts deposited with a lender as security for an obligation expected to occur at a future date, and can serve various functions. The following is an overview of typical reserves in a real estate finance...more

Cadwalader, Wickersham & Taft LLP

Bring On Q4 - September 2021 - Limited Recourse Finance Series, Part 3: Security Package and Considerations

In this Part 3 of the limited recourse financing series, we discuss some common issues and considerations with respect to the security package in a typical limited recourse structure....more

Sullivan & Worcester

Meeting the Challenges Covid-19 Poses for Trade Finance Transactions: Amendments and Waivers

Sullivan & Worcester on

This alert is the first in a series addressing the issues affecting trade finance documentation and transactions in the current climate. Issues concerning documentation have been at the forefront of discussions in the...more

Poyner Spruill LLP

A Refresher on Term Sheets and Commitment Letters

Poyner Spruill LLP on

Term sheets and commitment letters are documents frequently used by lenders to outline the terms of a potential financing. However, these two documents differ with respect to what is required of, and whether the terms are...more

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