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Pricing options:
Full course (including optional 3rd day): £2,995
Two days: £2,495 |
Loan Documentation (Secured) takes you through the documentation for a secured loan, providing you with a thorough understanding of the
commercial, documentary, and
transactional implications of secured lending.
The course pays particular attention to the impact of the security on the loan agreement and transaction process, in terms of due diligence, conditions precedent, representations and covenants. The course also highlights the commercial aspects of security documents such as the application of funds clause.
The course takes a multijurisdictional approach and guides you through the issues which commonly arise when trying to take security over different assets in different countries, and the ways in which the transaction process and the documentation package are designed to ensure these issues are identified and adequately addressed.
By attending this course you will:
- Be guided through the key components of the documentation for secured lending
- Be able to identify the commercial aspects of security documents with ease
- Appreciate the importance of the application of funds clause
- Understand the transaction process for a secured transaction
- Appreciate how legal issues affect the value of security
- Understand the ways in which security can be challenged
- Appreciate how the terms of the loan agreement are adjusted to reflect the identity of the borrower, the type of credit risk involved in the transaction and the results of the due diligence
- Understand the different functions of representations, conditions precedent and due diligence in protecting lenders
- Appreciate the differences between the concepts of mortgages, fixed charges, floating charges, pledges and liens under English common law
This is a must-attend course for anyone involved in secured lending.
Day 1
The Structure
Who is the Borrower?
- Structural subordination
- Upstream guarantees
- Limitation on recourse
- Use of spvs
Loan Overview and Covenants
- Positive and negative covenants
- Scope of the covenants
- Change of ownership
Type of Credit Risk
- Project, asset and corporate loan agreements compared
Workshop: covenants
Security Basics
- The right in rem
- The issues for due diligence
- The application of funds
- The conditions precedent
- Negative pledge
Security Creation Perfection and Effect
- Common issues with the following questions
- What does the security attach to
- How is it created
- How is it perfected
- How is it enforced
- What priority does it give?
Security for syndicated loans
Workshop: creation, perfection and effect of security
Day 2
Legal and Practical Issues
Clawback of Security
- Corporate issues
- Substantive issues
- Insolvency issues
Due Diligence and Closings
- Transaction and borrower due diligence compared
- Impact on documentation – representations or conditions?
- Value and saleability of secured asset
- Other due diligence issues eg tax, other funds, etc
- Location of due diligence
- Legal opinions
Workshop: due diligence
Guarantees
- Indemnities
- Waivers of subrogation and reimbursement
- Contra proferentem
- Lenders’ acts affecting guarantee claim
- Letters of comfort
Classification of English Security
- Mortgages
- Fixed and floating charges
- Pledges and liens
- Assignments priorities
Day 3 (Optional)
The Loan Agreement Money Issues
- Market disruption, gross up and increased cost clauses
Administrative Provisions and Representations
- “Default”
- “Financial Indebtedness”
- Pari passu
- Repeating representations
Undertakings
- Negative pledge and no disposals
Events of Default and boilerplate
- Cross default, litigation and mac Loan transfers and the role of the Agent
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The Course Director is an English solicitor with over 20 years experience in international banking transactions, including syndicated loans, subordinated debt, structured finance and tax driven transactions.
She was a partner in the banking department at Norton Rose for 8 years and was responsible for training for 2 years. She was head of professional development at Herbert Smith. She has been highly recommended as one of the leading experts in her field by Legal 500 and by Chambers. She is the author of “International Loan Documentation” and is a highly sought after trainer.
Courses run by this instructor
Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.
17-18 Jun 2013 (Limassol, Cyprus)
This two-day intensive Euromoney Legal Training course will cover all aspects of security documentation focusing on the anatomy of the security document itself and the legal ramifications of an incorrectly drafted document.
18-20 Sep 2013 (London, United Kingdom)
This three-day intensive Euromoney Legal Training course will cover all aspects of a loan transaction, concentrating particularly on the agreement itself and on the legal implications of a properly drafted and incorrectly drafted document.
23-25 Sep 2013 (Paris, France)
This Euromoney Legal Training course is the follow on to our ever popular loan documentation training programme that has run for more than ten years. The course will deal with the more structural and commercial side of the loan agreement and will give delegates more opportunities to practice making and responding to comments on the documents.
14-16 Oct 2013 (London, United Kingdom)
Essential Documentation and Procedural Issues
25-27 Nov 2013 (Paris, France)
This three-day intensive Euromoney Legal Training course will cover all aspects of a loan transaction, concentrating particularly on the agreement itself and on the legal implications of a properly drafted and incorrectly drafted document.
7-9 Oct 2013 (Amsterdam, Netherlands)
This Euromoney Legal Training course is the follow on to our ever popular loan documentation training programme that has run for more than ten years. The course will deal with the more structural and commercial side of the loan agreement and will give delegates more opportunities to practice making and responding to comments on the documents.
Click here to view Advanced Loan Documentation in Paris
18-21 Jun 2013 (London, United Kingdom)
19-21 Jun 2013 (London, United Kingdom)
9-11 Dec 2013 (London, United Kingdom)
9-12 Dec 2013 (London, United Kingdom)
The Euromoney Legal Training course will consist of a series of lectures and workshops that will provide you with a practical insight into dealing with the documentation of loans. By the end of the course you will be thoroughly familiar with the most important aspects of loan documentation.
24-25 Sep 2013 (London, United Kingdom)
Navigating the complexities of the updated Prospectus rules
24-25 Jun 2013 (London, United Kingdom)
26-27 Sep 2013 (London, UK)
Ensuring your business is fully compliant in 2013 and beyond
26-27 Sep 2013 (London, United Kingdom)
An Essential and Practical guide for In-house Lawyers, Company Secretaries and Compliance Officers
4-5 Nov 2013 (London, UK)
An Essential Introduction to the Key Legal and Documentation Issues
Please note that the dates below, 4-5 November, are likely but not yet confirmed. Final dates TBC soon.
27-29 Aug 2013 (Accra, Ghana)
Mergers & Acquisitions has been arranged to offer a comprehensive and practical guide to the international sale and purchase of companies from a strategic, legal, commercial and financial viewpoint.
27-29 Nov 2013 (Accra, Ghana)
This Euromoney Legal Training course explains how project finance works in detailed and practical terms. This programme aims to expose delegates to the rapidly changing face of project finance across the world and thus ensure a full awareness of the different methods being adopted in various countries and sectors. With interactive workshops being an integral part of this course, delegates will examine real life examples of project finance. Receive up-todate information on current projects, and benefit from the new ideas being implemented globally.
23-25 Sep 2013 (Dublin, Ireland)
Documentation and Negotiation
4-6 Nov 2013 (Dubai, United Arab Emirates)
Documentation and Negotiation
23-24 Sep 2013 (London, UK)