TreatiseTreatise

Hillman on Commercial Loan Documentation (6th Edition - Looseleaf)

 by Thomas S. Hemmendinger
 
 Copyright: 2013-2017
 Last Updated: June 2017

 Product Details >> 

Product Details

  • ISBN Number: 9781402420689
  • Page Count: 1136
  • Number of Volumes: 1
  •  

Also available in hardcover

“An original, incisive and useful explanation of commercial loan documents for both the new attorney and the experienced practitioner.”
-Michael L. Cook, Schulte Roth & Zabel LLP

Hillman on Commercial Loan Documentation is a trusted reference that can help attorneys draft commercial loan documents with efficiency and confidence. It walks the reader through the loan documentation process and includes numerous sample documents such as loan agreements, security agreements, financing statements, pledges, and opinion letters. The materials provide expert guidance on how to: 

  •  Create loan closing checklists that ensure every key transactional step is taken.
  • Conduct effective due diligence when trying to ascertain the borrower’s identity, capacity, and authority.
  • Draft waiver clauses in loan agreements to minimize lender liabilities.
  • Maximize the value of special forms of collateral, such as commercial aircraft and intellectual property, by securing them properly.
  • Minimize problems specific to using real estate as collateral and when dealing with debtors’ post-closing name or location changes.
  • Use intercreditor agreements to resolve conflicts with other creditors.
  • Obtain adequate hazard insurance that recognizes and protects lenders.
  • Draft financing orders that allow lenders to capitalize on debtor-in-possession financing.
  • Protect lenders from environmental risks.
Hillman on Commercial Loan Documentation attempts to distill the author’s experience into a functional format that guides the novice or refreshes those with more experience. Although written mainly for attorneys, it will also prove useful to commercial loan officers and to borrowers’ attorneys. Fact patterns adapted from cases are used as examples of problems that may be avoided by redrafting.
  Table of Contents
  Preface to the Sixth Edition
  Preface to the First Edition
Chapter 1: Overview
Chapter 2: Ethical Considerations; and Forms 2.1-2.2
  • § 2:1 : Introduction2-1
  • § 2:2 : Representing Borrower and Guarantors2-1
  • § 2:3 : Clients on Both Sides of the Transaction2-2
  • § 2:4 : How It Can Play Out2-2
  • § 2:5 : Conclusion2-3
    • Form 2.1 : Disclosure Letter (Authorizing Counsel to Represent Borrower Only)2F1-1
    • Form 2.2 : Disclosure Letter (Authorizing Counsel to Represent Lender Only)2F2-1
Chapter 3: Commitment (and Other) Letters; and Forms 3.1-3.4
  • § 3:1 : What Are We Talking About?3-1
  • § 3:2 : Letters of Intent3-2
  • § 3:3 : Term Sheets3-3
  • § 3:4 : Commitment Letters3-5
  • § 3:5 : Prepaid Fees3-6
    • Form 3.1 : Letter of Intent3F1-1
    • Form 3.2 : Term Sheet3F2-1
    • Form 3.3 : Commitment Letter (Line of Credit and Term Loan)3F3-1
    • Form 3.4 : Commitment Letter (Real Estate Loan)3F4-1
Chapter 4: Preliminary Considerations; and Forms 4.1-4.2
  • § 4:1 : Introduction4-1
  • § 4:2 : Loan Closing Checklists4-1
  • § 4:3 : Integrating the Loan Documents4-3
    • § 4:3.1 : Nomenclature4-3
    • § 4:3.2 : Defined Terms4-4
    • § 4:3.3 : Substantive Provisions4-4
  • § 4:4 : Make Your Documents Clear4-5
    • § 4:4.1 : The Problem4-5
    • § 4:4.2 : The Solution4-5
    • § 4:4.3 : Some Plain English Guidelines4-6
    • § 4:4.4 : The Finished Product4-8
  • § 4:5 : Document Assembly Systems4-8
    • Form 4.1 : Loan Closing Checklist4F1-1
    • Form 4.2 : Agenda for Hypothetical Secured Loan4F2-1
Chapter 5: Documentary Aspects of Lender Liability Avoidance
  • § 5:1 : Introduction5-1
  • § 5:2 : Antiwaiver Clauses5-1
  • § 5:3 : Integration Clauses5-3
  • § 5:4 : Jury Trial Waivers5-3
  • § 5:5 : Arbitration5-4
  • § 5:6 : Defining Reasonableness5-5
  • § 5:7 : Time5-5
  • § 5:8 : Stopping Lender Liability Claims Before They Get Started5-6
    • § 5:8.1 : The Virtues of Independence5-6
    • § 5:8.2 : Other Limits on Liability5-6
  • § 5:9 : If the Mule Gets Out of the Barn5-7
    • § 5:9.1 : Forum Selection5-7
    • § 5:9.2 : Counsel Fees5-7
  • § 5:10 : Some Final Advice5-8
Chapter 6: The Borrower: Identity; Capacity; and Authority; and Forms 6.1-6.5
  • § 6:1 : Introduction6-1
  • § 6:2 : Identity6-1
  • § 6:3 : Corporations6-2
  • § 6:4 : Limited Liability Companies6-4
  • § 6:5 : Partnerships and Limited Partnerships6-5
  • § 6:6 : Joint Ventures6-6
  • § 6:7 : Individuals6-6
  • § 6:8 : Anti-Corruption and Anti-Terrorism Laws6-6
    • Form 6.1 : Certificate of Corporate Authorization for Borrowing6F1-1
    • Form 6.2 : Certificate of Corporate Authorization for Issuing Guaranty6F2-1
    • Form 6.3 : Limited Liability Company Credit Authorization6F3-1
    • Form 6.4 : Partnership Credit Authorization6F4-1
    • Form 6.5 : USA PATRIOT Act Identity Verification6F5-1
Chapter 7: Opinion of the Borrower’s Counsel; and Forms 7.1-7.4
  • § 7:1 : Introduction7-1
  • § 7:2 : Scope, Qualifications, and Exclusions7-2
  • § 7:3 : The ABA Legal Opinion Accord7-4
  • § 7:4 : Security Interests and Mortgages7-4
  • § 7:5 : Conclusion7-5
    • Form 7.1 : Borrower’s Attorney’s Opinion Letter (Short Form)7F1-1
    • Form 7.2 : Borrower’s Counsel Opinion Letter (Long Form)7F2-1
    • Form 7.3 : Accord-Form Opinion7F3-1
    • Form 7.4 : Borrower’s Counsel Opinion Letter with Redline Changes for Security Interest and Mortgage Provisions7F4-1
Chapter 8: The Loan Agreement; and Forms 8.1-8.2
  • § 8:1 : Introduction8-1
  • § 8:2 : Coverage of General Points8-1
  • § 8:3 : A Tour of the Loan Agreement8-2
  • § 8:4 : SBA and Other Agency-Guaranteed Loans8-31
    • Form 8.1 : Loan Agreement8F1-1
    • Form 8.2 : Covenant Compliance Certificate8F2-1
Chapter 9: The Promissory Note; and Forms 9.1-9.3
  • § 9:1 : Introduction9-1
  • § 9:2 : Who Owes?9-3
  • § 9:3 : How Much?9-3
  • § 9:4 : To Whom?9-4
  • § 9:5 : Repaid How and When?9-4
  • § 9:6 : Interest9-5
  • § 9:7 : Compensating Balance9-10
  • § 9:8 : Automatic Debit9-11
  • § 9:9 : Usury9-11
  • § 9:10 : Prepayment9-12
  • § 9:11 : Defaults9-14
  • § 9:12 : Other Matters9-15
    • Form 9.1 : Promissory Note9F1-1
    • Form 9.2 : Revolving Line of Credit Note Tied to Loan Agreement9F2-1
    • Form 9.3 : Promissory Note Tied to Loan Agreement9F3-1
Chapter 10: The Security Agreement; and Forms 10.1-10.7
  • § 10:1 : The Basic Framework10-1
    • § 10:1.1 : Date10-3
    • § 10:1.2 : Names and Addresses10-3
    • § 10:1.3 : Grant of Security Interest10-3
    • § 10:1.4 : Description of Collateral10-3
      • [A] : The Things: Goods10-4
      • [B] : The Things: Fixtures10-5
      • [C] : The Things: Intangibles10-6
      • [D] : Proceeds10-9
      • [E] : Summary10-10
    • § 10:1.5 : Obligation Secured10-14
    • § 10:1.6 : Representations and Warranties10-17
    • § 10:1.7 : Covenants10-20
    • § 10:1.8 : Events of Default; Acceleration10-24
    • § 10:1.9 : Rights and Remedies10-25
    • § 10:1.10 : Housekeeping Provisions10-32
    • § 10:1.11 : Signatures10-32
  • § 10:2 : Accounts and Inventory Financing10-32
    • Form 10.1 : Commercial Security Agreement (Simple Printed Form)10F1-1
    • Form 10.2 : Security Agreement10F2-1
    • Form 10.3 : Security Agreement Tied to Loan Agreement10F3-1
    • Form 10.4 : Perfection Certificate (Entity Debtor)10F4-1
    • Form 10.5 : Perfection Certificate (Individual Debtor)10F5-1
    • Form 10.6 : Loan and Security Agreement (Accounts Receivable and Inventory Financing, with All Personal Property and Fixtures as Collateral)10F6-1
    • Form 10.7 : Borrowing Base Certificate10F7-1
Chapter 11: The Financing Statement; and Forms 11.1-11.5
  • § 11:1 : Introduction11-1
  • § 11:2 : Perfection11-2
    • § 11:2.1 : Perfection by Filing11-3
    • § 11:2.2 : General Requirements of a Financing Statement11-3
  • § 11:3 : The Form in Detail11-4
    • § 11:3.1 : Debtor’s Name11-4
    • § 11:3.2 : Debtor’s Address11-7
    • § 11:3.3 : Secured Party’s Name and Address11-9
    • § 11:3.4 : Collateral Description11-9
    • § 11:3.5 : Transmitting Utilities11-12
  • § 11:4 : Authorization11-12
  • § 11:5 : File with Care11-12
  • § 11:6 : Off-Label Uses for a Financing Statement11-13
    • Form 11.1 : Financing Statement (UCC-1)11F1-1
    • Form 11.2 : Financing Statement (UCC-1) (with Printed Collateral Description)11F2-1
    • Form 11.3 : Financing Statement (UCC-1) Fixture Filing11F3-1
    • Form 11.4 : Financing Statement (UCC-1) Fixture Filing (Alternate Version, Using UCC-1 Addendum)11F4-1
    • Form 11.5 : Authorization to File Financing Statements11F5-1
Chapter 12: Pledges; and Forms 12.1-12.8
  • § 12:1 : Introduction12-1
  • § 12:2 : Documenting the Pledge12-1
    • § 12:2.1 : The Pledge Agreement12-2
    • § 12:2.2 : Pledge by a Guarantor12-3
  • § 12:3 : Perfection12-3
    • § 12:3.1 : Tangible Collateral12-3
    • § 12:3.2 : Titled Goods12-4
    • § 12:3.3 : Securities12-4
    • § 12:3.4 : Closely Held Entities12-5
  • § 12:4 : Book-Entry Securities and Securities Accounts12-5
  • § 12:5 : Maintaining Collateral Value12-7
    • Form 12.1 : Pledge Agreement (printed form)12F1-1
    • Form 12.2 : Pledge Agreement12F2-1
    • Form 12.3 : Hypothecation Agreement12F3-1
    • Form 12.4 : Stock Power12F4-1
    • Form 12.5 : Agreement with Third-Party Warehouse12F5-1
    • Form 12.6 : Securities Account Pledge Agreement12F6-1
    • Form 12.7 : UCC-1 Financing Statement (Securities Account)12F7-1
    • Form 12.8 : Control Agreement with Securities Intermediary12F8-1
Chapter 13: Landlord’s Waiver; and Forms 13.1-13.3
  • § 13:1 : Introduction13-1
  • § 13:2 : The Importance of Getting a Landlord’s Waiver13-1
  • § 13:3 : Fixtures13-2
  • § 13:4 : Recording the Landlord’s Waiver13-2
  • § 13:5 : Dealing with Landlords13-2
    • § 13:5.1 : What Landlords Want13-2
    • § 13:5.2 : Another Solution13-3
  • § 13:6 : Leasehold Mortgage or Collateral Assignment of Lease13-4
    • Form 13.1 : Landlord’s Waiver13F1-1
    • Form 13.2 : Landlord’s Waiver13F2-1
    • Form 13.3 : Landlord’s Waiver, License and Agreement13F3-1
Chapter 14: Where to File; Where to Search; Notices; and Forms 14.1-14.2
  • § 14:1 : Introduction14-1
  • § 14:2 : When to File14-2
  • § 14:3 : Debtor’s Location14-2
    • § 14:3.1 : Registered Organizations14-2
    • § 14:3.2 : All Other Debtors14-3
  • § 14:4 : Classification of Collateral14-4
  • § 14:5 : Surviving the Transition Through the 2010 Amendments to Article 914-4
    • § 14:5.1 : Change in Debtor’s Name14-4
    • § 14:5.2 : Change in Debtor’s Location14-4
    • § 14:5.3 : Change in Debtor’s Name and Location14-5
    • § 14:5.4 : Continuing Old Security Interests14-6
    • § 14:5.5 : File Now, or Pay Later14-6
    • § 14:5.6 : Terminating Old Security Interests14-8
  • § 14:6 : Where to Search14-9
  • § 14:7 : Inventory Purchase-Money Financing14-9
  • § 14:8 : Author’s Note14-9
    • Form 14.1 : In Lieu Financing Statement14F1-1
    • Form 14.2 : Inventory Purchase-Money Security Interest Notice14F2-1
Chapter 15: Real Estate Collateral; and Forms 15.1-15.11
  • § 15:1 : Introduction15-2
  • § 15:2 : Future Advances15-2
    • § 15:2.1 : Equity Mortgages15-2
    • § 15:2.2 : Open-End Mortgages15-2
    • § 15:2.3 : Alternative Loan Structures15-3
  • § 15:3 : Mortgage on Individual’s Residence15-3
  • § 15:4 : Mortgage As Fixture Filing15-3
  • § 15:5 : Third Parties15-3
    • § 15:5.1 : Collateral Assignment of Leases and Rents15-3
    • § 15:5.2 : Attornment by Tenants15-3
    • § 15:5.3 : Collateral Assignment of a Mortgage15-5
  • § 15:6 : Construction Financing15-5
    • § 15:6.1 : Conditions on Loan Advances15-5
    • § 15:6.2 : Representations and Warranties15-8
    • § 15:6.3 : Covenants15-8
    • § 15:6.4 : Collateral15-10
      • [A] : Mortgage and Security Agreement15-10
      • [B] : Assignment of Permits and Key Contracts15-11
    • § 15:6.5 : Remedies15-11
    • § 15:6.6 : Sale of Individual Units15-14
    • § 15:6.7 : Planning Ahead15-15
  • § 15:7 : Leaseholds As Collateral15-15
    • § 15:7.1 : Authority to Mortgage Lease15-15
    • § 15:7.2 : Notice and Right to Cure15-16
    • § 15:7.3 : Other Essential Terms15-16
    • § 15:7.4 : New Lease15-16
    • § 15:7.5 : Leasehold Mortgage15-17
      • Form 15.1 : Collateral Assignment of Leases and Rents15F1-1
      • Form 15.2 : UCC-1 for Use in Connection with Form 15.115F2-1
      • Form 15.3 : Tenant Estoppel Letter15F3-1
      • Form 15.4 : Subordination, Non-Disturbance, and Attornment Agreement15F4-1
      • Form 15.5 : Construction Loan Agreement15F5-1
      • Form 15.6 : Collateral Assignment of Contracts, Plans, Licenses, Permits, and Approvals15F6-1
      • Form 15.7 : UCC-1 for Use in Connection with Form 15.615F7-1
      • Form 15.8 : Engineer’s Certification15F8-1
      • Form 15.9 : Contractor’s Acknowledgment and Agreement15F9-1
      • Form 15.10 : Architect’s Acknowledgment and Agreement15F10-1
      • Form 15.11 : Landlord’s Consent to Mortgage of Lease15F11-1
Chapter 16: Special Forms of Collateral; and Forms 16.1-16.19
  • § 16:1 : Introduction16-2
  • § 16:2 : Transportation Equipment16-2
    • § 16:2.1 : Motor Vehicles16-3
      • [A] : Equipment16-3
      • [B] : Inventory16-3
    • § 16:2.2 : Vessels16-4
      • [A] : State Law Registered Vessels16-4
      • [B] : Federally Documented Vessels16-4
      • [C] : New Vessel Construction16-5
    • § 16:2.3 : Trains16-5
    • § 16:2.4 : Aircraft16-6
  • § 16:3 : Government Licenses and Permits16-6
  • § 16:4 : Intellectual Property16-7
    • § 16:4.1 : Trademarks16-7
    • § 16:4.2 : Copyrights16-7
    • § 16:4.3 : Patents16-8
    • § 16:4.4 : Trade Secrets16-8
  • § 16:5 : Cyberspace Assets16-9
  • § 16:6 : Ownership Interests in Unincorporated Entities16-10
  • § 16:7 : Letters of Credit As Collateral16-12
  • § 16:8 : Deposit Accounts16-14
  • § 16:9 : Financing Government Contractors16-14
  • § 16:10 : Tax Refunds16-15
    • Form 16.1 : Preferred Ship Mortgage16F1-1
    • Form 16.2 : Rolling Stock Memorandum of Security Agreement and Cover Letter to Surface Transportation Board16F2-1
    • Form 16.3 : Aircraft Security Agreement16F3-1
    • Form 16.4 : Liquor License Power of Attorney16F4-1
    • Form 16.5 : Patent Collateral Assignment and Security Agreement16F5-1
    • Form 16.6 : LLC Membership Interest Pledge Agreement16F6-1
    • Form 16.7 : LLC Consent to Pledge16F7-1
    • Form 16.8 : Financing Statement (UCC-1) for LLC Membership Interest Pledge Agreement16F8-1
    • Form 16.9 : LLC Membership Interest Control Agreement16F9-1
    • Form 16.10 : Letter Agreement for Assigning the Right to Proceeds Under a Letter of Credit16F10-1
    • Form 16.11 : Deposit Account Control Agreement16F11-1
    • Form 16.12 : IRS Form 2848—Power of Attorney16F12-1
    • Form 16.13 : Treasury Department Form 234—Power of Attorney by Corporation for Collection of Checks Drawn on the Treasury of the United States16F13-1
    • Form 16.14 : Treasury Department Form 235—Resolution by Corporation for Collection of Checks Drawn on the Treasurer of the United States16F14-1
    • Form 16.15 : Treasury Department Form 231—Power of Attorney by Individual for Collection of Checks Drawn on the Treasurer of the United States16F15-1
    • Form 16.16 : IRS Form 8050—Direct Deposit of Corporate Tax Refund16F16-1
    • Form 16.17 : IRS Form 8453-C—C Corporation Income Tax Declaration for IRS e-file Return16F17-1
    • Form 16.18 : IRS Form 8453-S—S Corporation Income Tax Declaration for IRS e-file Return16F18-1
    • Form 16.19 : IRS Form 8302—Electronic Deposit of Tax Refund ($1 Million or More)16F19-1
Chapter 17: Guaranties; and Forms 17.1-17.5
  • § 17:1 : Introduction17-1
  • § 17:2 : Parties17-4
  • § 17:3 : Consideration and Authority17-4
  • § 17:4 : Obligations17-7
  • § 17:5 : Default17-8
  • § 17:6 : Waiver of Defenses17-10
  • § 17:7 : Termination of Guaranty17-13
  • § 17:8 : Limitation of Liability17-14
  • § 17:9 : Security17-18
  • § 17:10 : Guarantor’s Covenants and Waivers17-20
    • Form 17.1 : Guaranty (Printed Bank Form)17F1-1
    • Form 17.2 : Unconditional Guaranty (SBA Form 148)17F2-1
    • Form 17.3 : Limited Guaranty (SBA Form 148L)17F3-1
    • Form 17.4 : Continuing Guaranty17F4-1
    • Form 17.5 : Unconditional and Continuing Guaranty17F5-1
Chapter 18: Subordination Agreements; and Forms 18.1-18.4
  • § 18:1 : Introduction18-1
  • § 18:2 : Types of Subordination18-1
  • § 18:3 : Insider Debt18-2
  • § 18:4 : Other Non-Institutional Debt18-7
    • Form 18.1 : Subordination and Pledge Agreement18F1-1
    • Form 18.2 : Subordination Agreement18F2-1
    • Form 18.3 : Standby Agreement (U.S. Small Business Administration)18F3-1
    • Form 18.4 : Subordination Agreement with Non-Insider Creditor18F4-1
Chapter 19: Intercreditor Agreements; and Forms 19.1-19.8
  • § 19:1 : Introduction19-1
  • § 19:2 : Key Issues19-3
    • § 19:2.1 : Lien Priorities and Debt Priorities19-3
    • § 19:2.2 : Limits on the Senior Lender’s Claim19-4
    • § 19:2.3 : Proceeds19-5
    • § 19:2.4 : The Lenders’ Relationships with the Borrower and Each Other19-5
    • § 19:2.5 : Modifications19-6
    • § 19:2.6 : Third Parties19-6
    • § 19:2.7 : Remedies19-7
    • § 19:2.8 : Insolvency Proceedings19-8
    • § 19:2.9 : Duration of the Agreement19-9
  • § 19:3 : Where the Borrower Fits In19-10
  • § 19:4 : Intercreditor Agreements with Factors19-10
  • § 19:5 : Financing In-Transit Inventory19-10
  • § 19:6 : Conclusion19-12
    • Form 19.1 : Intercreditor Agreement19F1-1
    • Form 19.2 : Intercreditor Agreement—SBA Section 504 Transaction19F2-1
    • Form 19.3 : Intercreditor Agreement with Vendor19F3-1
    • Form 19.4 : Intercreditor Agreement19F4-1
    • Form 19.5 : Intercreditor Agreement19F5-1
    • Form 19.6 : Assignment of Factoring Proceeds19F6-1
    • Form 19.7 : Vendor Agreement19F7-1
    • Form 19.8 : Intercreditor Agreement with Logistics Provider19F8-1
Chapter 20: Insurance; and Forms 20.1-20.4
  • § 20:1 : Introduction20-1
  • § 20:2 : Hazard Insurance20-1
    • § 20:2.1 : Evidence of Property Insurance20-2
    • § 20:2.2 : Personal Property20-4
    • § 20:2.3 : Real Property20-4
    • § 20:2.4 : Builder’s Risk Insurance20-8
  • § 20:3 : Liability Insurance20-9
  • § 20:4 : Life Insurance20-10
    • § 20:4.1 : Owner20-11
    • § 20:4.2 : Beneficiary20-11
    • § 20:4.3 : Amount20-12
  • § 20:5 : Insurance Premium Financing20-12
    • Form 20.1 : Evidence of Property Insurance—ACORD 27 (2009/12)20F1-1
    • Form 20.2 : Evidence of Property Insurance—ACORD 28 (2014/01)20F2-1
    • Form 20.3 : Assignment of Life Insurance Policy as Collateral20F3-1
    • Form 20.4 : Life Insurance Assignment Questionnaire20F4-1
Chapter 21: Environmental Concerns; and Forms 21.1-21.2
  • § 21:1 : Introduction21-1
  • § 21:2 : Alternative Approaches21-1
  • § 21:3 : A Free-Standing Indemnity21-4
  • § 21:4 : A Tour of the Indemnity Agreement21-4
    • § 21:4.1 : Definitions21-4
    • § 21:4.2 : Representations and Warranties21-8
    • § 21:4.3 : The Indemnity Itself21-10
    • § 21:4.4 : Other Covenants21-12
    • § 21:4.5 : Giving the Indemnitors a Chance to Fix the Problem on Their Own21-14
    • § 21:4.6 : More Lender Protections21-16
    • § 21:4.7 : The Rest of the Agreement21-19
    • Form 21.1 : Environmental Indemnity Agreement (Short Form)21F1-1
    • Form 21.2 : Hazardous Substances Indemnity Agreement21F2-1
Chapter 22: Opinion Letter to the Lender; and Form 22.1
  • § 22:1 : Introduction22-1
  • § 22:2 : Essential Points to Address22-1
  • § 22:3 : Mortgages and Security Interests Generally22-2
  • § 22:4 : Other Qualifications22-2
    • Form 22.1 : Lender’s Attorney’s Opinion Letter22F1-1
Chapter 23: Processing the Paperwork
  • § 23:1 : Introduction23-1
  • § 23:2 : Opening the File23-1
  • § 23:3 : Pre-Closing23-2
  • § 23:4 : At Closing23-2
  • § 23:5 : Post-Closing23-4
Chapter 24: Post-Closing Changes; and Forms 24.1-24.4
  • § 24:1 : Introduction24-1
  • § 24:2 : Changes in the Debtor24-2
    • § 24:2.1 : The Debtor Changes Its Name24-2
    • § 24:2.2 : The Debtor Changes Its Location24-3
    • § 24:2.3 : The “New Debtor” Problem24-3
    • § 24:2.4 : Entity Conversion24-4
  • § 24:3 : Transfers of Collateral24-4
    • § 24:3.1 : Other Transferees of Collateral Outside the Ordinary Course of Business24-4
    • § 24:3.2 : Buyers in the Ordinary Course24-5
  • § 24:4 : Moving Collateral24-5
  • § 24:5 : Effect of the 2010 Amendments to Article 924-6
  • § 24:6 : Summary of Actions Required and Deadlines24-7
  • § 24:7 : Getting the Most Out of Grace Periods24-8
  • § 24:8 : A Modest Proposal24-9
  • § 24:9 : Changes in the Deal24-9
    • § 24:9.1 : Amendments and Modifications24-9
    • § 24:9.2 : Avoiding Unintended Consequences24-11
      • Form 24.1 : Amendment to Loan Documents (with Amended and Restated Line of Credit Note and Amendment to Term Note as Exhibits)24F1-1
      • Form 24.2 : Commercial Loan Modification Agreement24F2-1
      • Form 24.3 : Loan Modification Agreement24F3-1
      • Form 24.4 : Guarantor’s Consent and Reaffirmation24F4-1
Chapter 25: Workouts and Forbearance Agreements; and Forms 25.1-25.4
  • § 25:1 : Introduction25-1
  • § 25:2 : Sample Forbearance Agreement25-2
    • § 25:2.1 : Definitions, Etc.25-4
    • § 25:2.2 : The Forbearance Itself25-7
    • § 25:2.3 : Conditions Precedent25-8
    • § 25:2.4 : Reps and Warranties25-11
    • § 25:2.5 : Covenants25-13
    • § 25:2.6 : Amendments to Loan Documents25-16
    • § 25:2.7 : Reaffirmations, Consents and Waivers25-16
    • § 25:2.8 : Collateral25-17
    • § 25:2.9 : General Release25-19
    • § 25:2.10 : Clean-up Provisions25-20
  • § 25:3 : Pre-Workout Considerations25-22
    • Form 25.1 : Forbearance Agreement25F1-1
    • Form 25.2 : Forbearance Agreement25F2-1
    • Form 25.3 : Reservation of Rights Letter25F3-1
    • Form 25.4 : Pre-Workout Letter Agreement25F4-1
Chapter 26: Debtor-in-Possession Financing and Use of Cash Collateral; and Forms 26.1-26.3
  • § 26:1 : Introduction26-1
  • § 26:2 : Groundwork26-2
  • § 26:3 : The Financing Order26-3
    • § 26:3.1 : Findings of Fact26-3
    • § 26:3.2 : Loan Terms26-4
    • § 26:3.3 : Collateral26-4
    • § 26:3.4 : Limitations on Challenges to the Lender’s Claims26-5
    • § 26:3.5 : Surcharges and Carve-outs26-5
    • § 26:3.6 : Management and Control Issues26-6
    • § 26:3.7 : Guarantors and Third Parties26-6
    • § 26:3.8 : Remedies26-6
    • § 26:3.9 : Final Orders26-7
  • § 26:4 : Use of Cash Collateral26-7
    • Form 26.1 : Interim Order Approving Debtor-in-Possession Financing26F1-1
    • Form 26.2 : Debtor-in-Possession Credit and Security Agreement26F2-1
    • Form 26.3 : Interim Order for Use of Cash Collateral26F3-1
  Table of Forms
  Index

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