This Legal Update explores the considerations that a warehouse lender should bear in mind when deciding whether to provide borrowing base credit for participation interests and defining eligible participation interests....
This Legal Update explores why, in order for an underlying loan to be included in a warehouse facility’s borrowing base, its original promissory note (if any) must be delivered to...
This Legal Update explores why, in order for an underlying loan to be included in a warehouse facility’s borrowing base, the underlying loan must be eligible to be sold and...
This Legal Update explores why, in order for an underlying loan to be included in a warehouse facility’s borrowing base, the underlying loan’s obligor cannot be a governmental authority. Example...
This Legal Update explores why, in order for an underlying loan to be included in a warehouse facility’s borrowing base, the underlying loan must be fully funded (or, for any...
This Legal Update explores why, in order for an underlying loan to be included in a warehouse facility’s borrowing base, the underlying loan’s documentation cannot contain confidentiality restrictions that could...
This Legal Update explores why, in order for an underlying loan to be included in a warehouse facility’s borrowing base, the underlying loan cannot be used for “personal, family or...
This Legal Update explores why, in order for an underlying loan to be included in a warehouse facility’s borrowing base, the underlying loan cannot be margin stock. Example of Eligibility...
There is a spectrum of potential financing structures for a private credit fund (a “Credit Fund”) to obtain liquidity, including at various levels in the fund structure, such as at...
The rise of the direct lending market has led to a dramatic rise in supporting liquidity strategies to optimize the market. These strategies include the use of financings to provide market participants with leverage and/or supplemental liquidity to support their direct lending activities.