Business Law Monographs, Volume G4--Loan Agreements

Business Law Monographs,Loan Agreements, guides counsel to the corporate borrower through the process of negotiating a bank loan agreement.

The first four chapters provide essential background information on alternative financing sources, the legal rules governing loan commitments, the accounting principles that borrower's counsel must be familiar with, and the various categories of loan agreements.

Chapters 5 through 15 guide the reader through each major section of a typical loan agreement. The discussions are illustrated with sample language from loan agreements, and the advantages and risks associated with alternative provisions are explained. The reader is advised as to which provisions typically are subject to negotiation and which provisions are not; where difficulties may be expected, the reader is advised about what compromises might be proposed for accomodating the special needs of the borrower while realistically not challenging the vital interests of the lender. Among the matters addressed in these chapters are loan agreement definitions and their significance, interest rate calculations, conditions, representations, and warranties, affirmative and negative covenants, and events of default.

Chapter 16 deals with ancillary documentation: guarantees, security agreements, subordination agreements, and legal opinions. Chapters 17 and 18 discuss the closing and post-closing matters. Chapter 18A discusses new developments, both statutory and case law, affecting borrowers. Chapter 18B discusses the problems faced by the borrower's attorney when the borrower finds itself in default under the loan agreement due to its financial difficulties and must consider a bankruptcy filing as a means to continue its operations.

The Forms segment contains 18 sample documents, including two checklists and an example of each major category of agreement discussed in the Text. Three documents in the Forms segment may be of special interest to an attorney preparing for a negotiation: a lender's first draft proposal of a loan agreement, a statement of comments and proposed changes from borrower's counsel, and the final compromise agreement, reflecting the results of the negotiation process.

Also available as part of the complete 38-volume set entitled Business Law Monographs.

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