Lender's Believe it or Not: Defaulting Lender Provisions in Loan Documents
November 26, 2008
Who would have thought it? Once upon a time lenders only had to be concerned about a default by their borrowers. Now, not only are there the risks associated with a borrower unable to fulfill its obligations, but lenders and particularly agents, letter of credit issuers and swing line lenders in syndicated credits have to be concerned about the ability of their fellow lenders to fund their share of the facility. How are such issues addressed in your standard loan documents and what should lenders be doing? Select this link to learn more.