Podcast: Credit Funds: Pro Rata Sharing Provisions – Key Points for Lenders
The Most Favored Nation (MFN) provision in a loan agreement is a lender protection mechanism that is typically seen in credit facilities permitting an uncommitted incremental facility. The MFN provision, a term originating...more
The Main Street Lending Program has been modified by the Federal Reserve Board (Board) to provide new access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations....more
Nearly three months after its initial announcement, on June 15, 2020, the Federal Reserve launched its Main Street Lending Program (MSLP), offering additional support for small and mid-size businesses struggling as a result...more
“Nel contratto di mutuo non è giuridicamente configurabile un tasso di interesse negativo che incida sul capitale mutuato. Conseguentemente, quando il tasso d’interesse sia stato pattuito in misura variabile, esso non può...more
After the 2018 fourth quarter roller coaster ride, when borrowers were essentially shut out of the leveraged loan market, the start to the new year has been tentative. Despite improved market conditions, leveraged loan volume...more
In case you haven’t heard, the London Interbank Offered Rate (“LIBOR”) may be phased out by the end of 2021. Why? Because the Financial Conduct Authority (“FCA”) in the U.K. announced in July 2017 that it will stop requiring...more
On 4 July 2017, the German Federal Court of Justice (BGH)—in two separate cases—held that pre-formulated agreements on work fees that are payable independent from the term of the underlying loan and agreed between a financial...more