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The Delaware Bankruptcy Court in Bayside Capital Inc. v. TPC Group Inc. offers a counterpoint to TriMark by holding that a “sacred right” provision in an indenture, which required the...
Judge Rakoff’s Nine West decision allowed fiduciary duty claims to proceed against LBO seller directors and officers based on anticipated subsequent transactions by purchaserJudge Danie...
A key feature of many modern credit agreements is an “incremental” or “accordion” provision, which can allow a borrower to increase the aggregate amount of financing available und...
In a typical “term loan B” (TLB) financing, the initial lenders expect to distribute the TLB paper to investors prior to funding. But what happens when that expectation cannot be met,...
On August 8, 2014, The Loan Syndications and Trading Association (“LSTA”) published in final form its latest iteration of the Model Credit Agreement Provisions (the “2014 MCAPs”),...