Loan Documentation School: Module 2 - Advanced Loan Documentation
Advanced Loan Documentation' builds on the content of the first module - 'Loan Documentation' and it focuses in more depth on key aspects of the loan agreement including an opportunity for Participants to debate some of these key clauses in a highly practical workshop. The course also covers the rest of the documentation package, including the legal, structural and intercreditor issues necessary for a full and speedy understanding of the package as a whole.
The course also looks at how the commercial context will affect the documentation - focusing in particular on project and asset finance and at the intercreditor arrangements.
Review of Key Loan Agreement Issues
- Relevant Companies”
- Default, Events of Default and remediable Events of Default
- Conflict between representations, conditions precedent, undertakings and events of default
- The pari passu clause
- The negative pledge
- The cross default clause
- The material adverse change clause
- material”, reasonable” worth the debate?
- Grace periods
- Prepayment events
- Subjectivity and control in the context of events of default
- Comparison of asset finance, corporate finance and project finance based loan agreements
Participants will consider a number of borrower's comments on the Loan Agreement. This exercise will highlight key topics within Representations, Undertakings, Events of Default, and Boilerplate, including
- Repeated Representations
- Negative Pledge
- No Disposals
- Cross Default
- Material Adverse Change
Key Legal Issues
- Governing law and jurisdiction
- What courts have jurisdiction to deal with disputes in an international context? What law will they apply?
In what circumstances might obligations be avoided or become unenforceable?
- Financial assistance
- Ultra vires
- Commercial benefit
- Transactions at an undervalue
- Interference with contracts
- The role of the legal opinion
- Subordinated debt and subordinated security
- Different methods of subordination of debt
- The issues to be addressed by an intercreditor agreementa
- London - £ 2645 + VAT
- Paris - £ 2645 + VAT
- Hong Kong - £ 2995 + VAT
Certification / Credits
This course will help you
- Consolidate your understanding of the commercially important points in the documentation package
- Improve your understanding of intercreditor agreements and of the different types of subordination and
- understand the key features of asset and project based loans
- Master the important legal issues which commonly arise in a financing transaction including what can go wrong, where, and how to minimise the risks of this happening
- Learn what legal opinions do and do not do and their role in the due diligence process
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At Euromoney Learning, we understand that learning doesn’t start and end when you leave the classroom. We know that the financial markets never stand still, and that technology has both simplified and added complexity at a break-neck pace. That’s why...