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Course summary
Length: 3 days
Price: 2,750 - 3,695 GBP, 2,900 - 4,990 USD, 4,020 EUR excl. VAT
Course type: Open / Scheduled
Next available date: 13/07/2017 - Bridgetown
Course Dates
Bridgetown
13/07/2017  
2,900 USD
Paris
25/09/2017  
4,020 EUR
Singapore
15/11/2017  
4,990 USD

Advanced Loan Documentation

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Advanced Loan Documentation

This course is a follow-on to the M1 - Loan Documentation course. This Advanced Loan Documentation training course tackles the advanced structural & commercial aspects of the loan agreement and gives delegates an in-depth, practical insight to enable them to make and respond to comments on the documents.

The comprehensive three-day programme covers topics such as key clauses in the loan agreement, structural issues, the loan agreement in different commercial contexts, contractual support arrangements and legal issues that arise in the financing transactions. It combines lectures with a series of hands-on workshops to equip legal professionals with the knowledge and skills required to deal with the advanced aspects of loan documentation.

Participants will:

  • Be taken through the critical elements of various loan transactions.
  • Enhance their knowledge of other common financing documents including a subordination agreement and a contract assignment.
  • Appreciate how to avoid the conflict between conditions precedent, representations, undertakings and events of default.
  • Be capable of discussing  and commenting on issues commonly raised by borrowers, on the loan agreement.
  • Obtain a comprehensive understanding of various forms of contractual support and their advantages and disadvantages as compared with claims in debt.

By the end of the programme, delegates will be familiar with all core aspects of loan documentation.

Suitability - Who should attend?

This Advanced Loan Documentation course is beneficial to:

  • In-house lawyers in banks
  • Bank executives involved in the documentation of loans
  • Bankers concerned with the negotiation of loans
  • Corporate counsels
  • Lawyers in private practice who advise clients on loan agreements

Training Course Content

Review of key loan agreement issues

  • “Relevant companies”
  • Conflict between representations, conditions precedent, undertakings and events of default
  • The Pari Passu clause
  • The negative pledge
  • The cross default clause
  • The material adverse change clause
  • Linking the loan to the borrower’s rating
  • “Material”, “reasonable” worth the debate?
  • Grace periods
  • Prepayment events
  • Subjectivity and control in the context of events of default

Workshop 1: review clauses from a loan agreement and identify key issues for the borrower.

The loan agreement in different commercial contexts

Comparison of provisions appropriate to a corporate risk, project risk and/or an asset risk

  • Drawdown
  • Financial ratios
  • Undertakings
  • Defaults
  • Additional considerations where the borrower is a special purpose company

Homework preparation for workshop 2

Workshop 2: review comments from a borrower on a loan agreement and consider the bank’s response.

Review workshop

Key legal issues part 1: basic points

  • Types of claim and remedies

Key legal issues part 2: governing law and jurisdiction

  • What courts have jurisdiction to deal with disputes in an international context? What law will they apply?

Key legal issues part 3: bank/agent liabilities

Responsibility for misrepresentations

  • For the arranger
  • For a bank selling a participation in the secondary market
  • For the borrower
  • For the lawyers

Exclusion clauses

  • How effective are they?

Key legal issues part 4: bank/agent liabilities

Other responsibilities of the banks

  • Agents and trustees
  • Fiduciary duties
  • Conflicts of interest

Key legal issues part 5: clawback/unenforceability

  • In what circumstances might obligations be avoided or become unenforceable?
  • Financial assistance
  • Ultra vires
  • Commercial benefit
  • Preferences
  • Transactions at an undervalue
  • Registration
  • Penalties
  • Administration
  • Interference with contacts

Workshop 3: participants will be given a scenario and asked to spot the legal issues.

Structural issues

  • Damages and debt – what are the differences?
  • Structural subordination
  • Substitutes for guarantees e.g.
  • Commitments to inject capital
  • Comfort letters
  • Put options, leases, offtake agreements and other contractual support
  • Contract assignments
  • Security on bank accounts
  • Security, title financing and recharacterisation

Workshop 4: participants will review key terms of a contract which a bank is proposing to take as security and identify issues which need to be resolved.

Intercreditor arrangements

  • We will review a number of different intercreditor agreements relevant to different circumstances.

Expenses

The cost of this course is:

  • London United Kingdom: £3,350.00 + VAT
  • Dubai UAE: £2,750.00
  • Bridgetown Barbados: $2,900.00
  • Paris France: €4,020.00 + VAT
  • Singapore Singapore: $4,990.00
  • London United Kingdom£3,360.00 + VAT

In-House Training

Euromoney also delivers in-house training for teams and departments, giving companies the opportunity to save up to 50% on training costs. Please contact Euromoney for more information.

Provider: Euromoney Learning Solutions - Legal Training

Euromoney Legal Training

With over 60 years of experience, Euromoney Learning Solutions draws on its unique heritage to redefine learning. As a world leading provider of premium public courses, e-learning, books and tailored in-house training programmes, Euromoney Learning Solutions facilitates change in businesses...


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Euromoney Learning Solutions - Legal Training



Nestor House, Playhouse Yard
EC4V 5EX London

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Reviews by course attendees

          (5)
Delegate   |   12/07/2012
Very useful and interesting, great to have the opportunity to actively participate; clear practical Examples General Counsel - Rabobank International
          (5)
Delegate   |   12/07/2012
Very thorough and well taught Past delegate - Lloyds Banking Group
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