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Financing Commitments and Acquisition Agreement Terms

Recorded on: May. 10, 2011
Running Time: 01:31:52

Full Transcript:


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Taken from the Web Program Leveraged Financing 2011 recorded May, 2011 in New York.

Lecture Topics  [01:31:52]

Financing Commitments and Acquisition Agreement Terms  [01:31:52]

A. Trends in Financing Commitments

  • Conditionality; agreed precedent principles
  • Limitations on liability; choice of law and forum
  • Bridge loan terms; securities demand rights
  • Market flex rights
  • Alternative transaction fees

B. Acquisition Agreement Terms in Leveraged Transactions

  • Financing assistance covenant
  • Liability limitations and reverse termination fee provisions
  • “Mini-financing out” provisions; leverage ratio versus EBITDA
  • Relationship to financing commitments
  • Piggyback diligence
The purchase price of this segment includes the following article from the Course Handbook available online:
  • The Acquisition Finance Market Returns: Impact of the 2007 Crash on Post-Crash Terms
    Marissa C. Wesely
  • Representing Sponsors in Senior Secured Facilities Commitment Letters 101
    Angela L. Fontana
  • Introduction to Financing Commitment Papers
    Janet Vance
  • Financing Related Provisions in Acquisition Agreements
    Janet Vance
  • Current Issues in Acquisition Finance (Presentation Slides)
    Marissa C. Wesely

Presentation Material

  • Financing Commitments and Acquisition Agreement Terms
    Angela L. Fontana, Ann S. Makich, Marissa C. Wesely
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