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Key Issues and Risks in Documenting Syndicated Loan Agreements

Make sure you are appropriately drafting for interlender issues in the syndicated loan transaction.

Legal counsel representing both borrowers and lenders are frequently asked to draft, for review, the central credit document for the syndicated loan transaction. While there are valuable precedents available, and a significant move toward standardized documentation, the preparation or review of credit agreements is fraught with issues and risks that need to be understood, tailored to the transaction, and appropriately drafted for. This topic will equip the lawyer acting in this capacity to properly identify the risks specific to the transaction, make informed and reasonable suggestions for change to the structure of the loan transaction, composition and rights of the lending group, and appropriate protections for the borrower when dealing with the syndicated.

Runtime: 93 minutes
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Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Key Syndication Terms, Documents and Issues

Role of the Agent(s)

How to Identify and Consider Interlender Issues in the Syndicated Loan

Balancing Syndicate Participant's Rights

Understanding the Issues That Require Consideration in the Drafting of the Interlender Arrangements and Syndicated Loan Transaction

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on April 13, 2021.

Call 1-866-352-9540 for further credit information.

  • AK CLE 1.5
     
  • Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.6
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.6 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • ND CLE 1.5
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.5 hours of CLE credit.
     
  • NH MCLE 1.6
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 93 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • VT CLE 1.5
     
  • This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 6 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
     
  • WI CLE 1.5
     
  • This program qualifies for 1.5 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • NJ CLE 1.8
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • VT CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Alison R. Manzer

Alison R. Manzer

Cassels Brock & Blackwell LLP

  • Partner in the Financial Services and Business Law Groups with Cassels Brock & Blackwell LLP
  • Practice encompasses a broad range of commercial practice in the financial services sector, including financial institution regulation, corporate, and commercial lending, asset-based financing, securitization and structured finance, private equity, project finance, asset finance and leasing, business reorganization, syndicated lending, fund formation and governance, and related areas
  • Practice involves multi-jurisdiction transactions where she has expertise in the structuring requirements of financing, investment, and securitization transactions to solve taxation, conflicts of laws, document structure, currency, and rate issues, among others
  • Elected as a fellow of the American Bar Foundation
  • Active with the American Bar Association, member of council, council committee on membership diversity and inclusion; past president, Association of Commercial Finance Attorneys; and Regent American College of Commercial Finance Lawyers
  • Lectured and written extensively on legal matters, particularly dealing with financial institution issues
  • Books – Canada/U.S. Commercial Law Guide; A Guide to Canadian Money Laundering Legislation; The Bank Act Annotated; A Practical Guide to Canadian Partnership Law; Banking and Credit Relationships, Real Estate Finance in Canada; Asset Based Lending in Canada; Law and International Finance; Halsbury's Laws of Canada - Banking and Finance; Practice Advisor (banking and lending) and Project Finance Canada, all published by national legal text publishers
  • Recognized in the Canadian Legal Lexpert Directory each year starting with its first publication in areas including structured finance, asset/equipment finance, and leasing and banking and financial institutions; recognized as a leading lawyer by Chambers Global and Chambers Canada for banking and finance; The Best Lawyers in America and best lawyers in Canada for equipment finance law; the Guide to the World's Leading Banking Lawyers; IFLR 1000 Banking; Financial Services Legal 500 Canada Banking and Finance; Leading U.S./Canada Cross-Border Lawyer and the Guide to the World's Leading Women in Business Law (banking and finance); and a distinguished rating in the Martindale-Hubbell Law Directory
  • Completed the Canadian Securities Course and the advanced securities programs, Canadian Investment Finance I and II with the Canadian Securities Institute
  • Adjunct professor - Osgoode Hall Law School, York University, Toronto (International Finance)
  • LL.B. law degree, LL.M. degree in banking and financial services, B.Sc. Hon. degree in biochemistry, MSc. degree (Bus Res), M.B.A., and DBA
James C. Schulwolf

James C. Schulwolf

Shipman & Goodwin LLP

  • Partner at Shipman & Goodwin LLP
  • Represents senior and mezzanine lenders, institutional investors, venture capital investors (including SBICs), private equity funds, hedge funds, emerging growth companies, and private companies in financing, investment, leasing, acquisition, corporate, licensing, and restructuring transactions
  • Regularly advises these clients with respect to structuring, negotiating, and closing complex transactions, also regularly advises clients with respect to distressed investments and the restructuring of existing investments and loans
  • Experience includes the representation of senior lenders in complex commercial, asset-based, and acquisition financings; mezzanine lenders and hedge funds; SBIC’s and venture capital funds; emerging growth companies; hedge fund, buyers, sellers, and sponsors; and institutional investors in direct investments, fund of funds investments, and investments in private equity funds
  • Recognized authority on drafting and negotiating intercreditor and subordination agreements on behalf of senior and subordinate lenders and wrote “Controlling Your Destiny-Key Issues in Subordination and Intercreditor Agreements”, The Secured Lender (1995); he also deals extensively with family-owned businesses and wrote "Financing the Family-Owned Business," The Secured Lender (2002)
  • Lectures frequently on issues relating to commercial and real estate lending, intercreditor issues, venture finance, and venture capital investment
  • Achieved the highest rating in the Martindale-Hubbell Law Directory; listed as a Connecticut Super Lawyer® in business/corporate (2006 to 2015) and banking, mergers & acquisitions (2006 to 2009); listed in The Best Lawyers in America® in banking and finance law, equipment finance law (2005 to 2016); named "Lawyer of the Year," Best Lawyers' 2014 Hartford Region banking and finance law; chair (2010 to 2013), Commercial Finance Committee, American Bar Association, Section of Business Law; fellow (1998 to present) and member of the Board of Regents (2005 to 2009), American College of Commercial Finance Lawyers; and Connecticut Bar Foundation James W. Cooper Fellow
  • J.D. degree, New York University School of Law; B.A. degree, cum laude, Amherst College
Jeffrey A. Wurst, Esq.

Jeffrey A. Wurst, Esq.

Armstrong Teasdale

  • More than 30 years of experience handling significant commercial finance and bankruptcy matters
  • Esteemed fellow of the American College of Commercial Finance Lawyers and panelist on the American Arbitration Association’s National Roster of Arbitrators
  • In-depth experience representing both lenders and borrowers in litigation arising from transactions, and is often called upon to handle interlender disputes
  • Represented both agents and co-lenders in syndicate-related disputes
  • Litigation experience includes the successful defense of major money center banks in venues across the country related to lender liability, lien priority disputes, fraudulent conveyance, and similar actions
  • The ABF Journal, Secured Finance Network, Turnaround Management Association, and other industry-leading publications turn to Jeff for critical insights and articles
  • An established writer and blogger, his Wurst Case Scenario, the commercial finance law newsletter, has thousands of followers
  • Frequent lecturer on topics concerning lenders and entrepreneurs
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Product ID: 408684
Published 2021
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