Loan Documentation
An extremely popular course that provides intensive training in the key issues surrounding loan documentation. The course looks at the negotiation phase from a financier and borrower perspective and focuses in detail on a wide variety of different securities and the legal challenges they present.
Course Highlights
Excellent tutor!
M.F., Bradford & Bingley
Attend this intensive training course and gain a practical knowledge and understanding of:
- Negotiating loan documentation from both the financier and borrower perspectives
- Interpretation of various clauses under common law
- Enforceability issues and pitfalls in the drafting and negotiation of guarantees and letters of support
- Different types of securities including pledges, liens, constructive trusts, fixed and floating charges, mortgage debentures, and security over property, shares and insurance assignments
- Implication of insolvency on the contractual rights of all parties involved
For details of the course trainer, please download the course brochure
Booking Information
| Dates | Prices | Book This Course | Discount |
|---|---|---|---|
| 15 - 17 Sep 2010 |
£ 2099 |
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| 02 - 04 Feb 2011 |
£ 2099 |
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| 04 - 06 Jul 2011 |
£ 2099 |
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| 05 - 07 Dec 2011 |
£ 2099 |
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Course Programme
Excellent tutor!
M.F., Bradford & Bingley
Operation of Law
- Documentation under English and New York law vs. civil law documentation
- The operation of common law (UK and USA)
- court structures
- precedent
- statute
- appeals
- common law rights
- Equitable remedies and defences
- Dispute resolution
- structured finance: expert mediation, international arbitration, the NY convention, cross-border enforcement
- Law of the contract
- non-exclusive jurisdiction clauses
- enforcement
The Law of Contract
- Ultra vires: application of old law and new law respectively
- Verification certificates
- Commercial benefit and objects clauses
- Implication of signing under seal
- Deeds
- Pre-contractual issues, the point of contract, non-contractual documents, term sheets and heads of agreement
- Documents that have to be evidenced in writing to be enforceable
- Consideration
- Legality and severance clauses
The Loan Agreement
- The structure of a loan agreement
- layout of the clauses
- Clauses raising important commercial issues and their implications
- the negative pledge clause
- cross default and cross acceleration
- material adverse change clause
- representations and warranties
- rights of set-off
- default, covenant breach and grace periods
- reversing waivers of default
- assignment clauses and novation
The Agency Role - Syndicated Loans
- Powers of the agent bank and the agency clause
- Implications of agent exceeding powers
- Credit analysis, information memorandum, ongoing information and reporting
- Legal opinions
- Disclaimers and their effectiveness
- Unfair Contract Terms Act
- Negligence, gross negligence and willful misconduct
- Vicarious liability
- Assignment, novation, silent sub-participation
- Confidentiality
- Conflicts of interest
- Defaults and majority voting rights
Guarantees
- Definition
- The common law position
- Types of guarantee
- all-monies guarantees: potential dangers
- consideration
- post facto guarantees
- Termination of guarantees
- Multiple guarantors: implications
- Reviewing specific clauses contained in a standard guarantee document
- conclusive evidence clause
- indemnity clause
- survivorship clause
- variations clause and right to vary terms without knowledge of guarantor
- Execution
- Letters of credit: overview
Letters of Comfort
- The legal position
- letters of acknowledgement
- letters of support
- Examples of different types of letter of support
- Applying the contractual tests
- Precedents
Security
- Different approaches in different countries
- Principal types of security
- security agency, security trusts and indentures
- pledges, liens, and constructive trusts
- fixed and floating charges
- mortgage debentures
- property security
- security over shares
- assignment of policies
Insolvency Regulation
- Insolvency regimes in the USA
- Chapters 11 and 7
- Insolvency regimes in the UK
- administration, administrative receivership, scheme of arrangement and liquidation
- The impact of various forms of insolvent administration on the rights of financiers under their contractual documentation
- Minimizing the negative effects at the time of drafting
- Potential rights against other creditors
- Protecting rights in the immediate period before the onset of insolvency
- Transactions that can be set aside, preferences, transactions at undervalue and extortionate credit
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