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.
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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 39 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
This course was last revised on July 30, 2025.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hour(s) 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 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hour(s) credit.
- AR CLE 1.0
- This course has been approved for 1.0 hour(s) of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- 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/Noggin Guru for auditing purposes. This activity may qualify for up to 1.0 hour(s) toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services/Noggin Guru is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hour(s) of participatory credit.
- CT CLE 1.0
- 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: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hour(s).
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hour(s).
- IL CLE 1.0
- This course was approved for a total of 1.0 hour(s) of MCLE Credit by the Illinois MCLE Board.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hour(s) of CLE credit.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services/Noggin Guru believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 65 Minutes.
- NM CLE 1.0
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hour(s) of credit.
- NV CLE 1.0
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hour(s).
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hour(s) in the area(s) of Areas of Professional Practice for 1.00 hour. 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 Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hour(s) of substantive law, practice and procedure CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hour(s).
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.
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- AK CLE 1.0
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- MO CLE 1.3
- NM CLE 1.0
- VT CLE 1.0
- WV MCLE 1.3
- WY CLE 1.0
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 39 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
Alessandro Bozzelli
Cassels Brock & Blackwell LLP
- More than 10 years of experience handling significant commercial finance and insolvency matters, representing both borrowers and lenders.
- Developed strong knowledge and experience in a wide range of financing and debt transactions with a particular emphasis on acting for borrowers and lenders in various financing matters including bilateral and syndicated lending, asset-based lending, aviation financings, acquisition financings, franchise financings, cross-border financings, project financings, renewable energy projects, mezzanine financings, inter-creditor arrangements, real estate financings, receivables financing transactions and factoring transactions.
- Frequent lecturer and presenter for various lender, industry and legal associations on topics concerning debt financing and lender’s rights.
- Recognized as a leader in his field by Lexpert, IFLR1000 and Best Lawyers in Canada: Ones to Watch.
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 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; SBICs 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; he also deals extensively with family-owned businesses and wrote Financing the Family-Owned Business, The Secured Lender
- 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
Kori Williams
Cassels Brock & Blackwell LLP
- More than 15 years of experience handling significant commercial finance and insolvency matters, representing both borrowers and lenders.
- Developed strong knowledge and experience in a wide range of financing and debt transactions with a particular emphasis on acting for borrowers and lenders in various financing matters including bilateral and syndicated lending, asset-based lending, acquisition financings, franchise financings, cross-border financings, project financings, renewable energy projects, mezzanine financings, inter-creditor arrangements, and real estate financings Frequent lecturer on topics concerning lenders and entrepreneurs
- Frequent lecturer and presenter for various lender, industry and legal associations on topics concerning debt financing and lender’s rights.
- Recognized as a leader in his field by The Canadian Legal Lexpert Directory and Best Lawyers in Canada.
Jeffrey A. Wurst, Esq.
Bodner Law PLLC
- 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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Why Lorman?
Over 39 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.
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