Many businesses that participated in the Paycheck Protection Program (“PPP”) may have inadvertently defaulted on some of their pre-existing credit facilities or outstanding loans. As has become standard within these debt...more
7/13/2020
/ Borrowers ,
CARES Act ,
Compliance ,
Contract Terms ,
Coronavirus/COVID-19 ,
Debt ,
Future Debt Restrictions ,
Lenders ,
Loan Forgiveness ,
Loan Provision ,
Paycheck Protection Program (PPP) ,
Prior Express Consent ,
Representations and Warranties ,
SBA
The answer to this question will depend upon the language of your policy. Most business interruption insurance policies, however, will have coverage language and exclusions that will make it unlikely for a COVID-19 claim to...more
4/26/2020
/ Additional Insured Endorsements ,
Business Interruption ,
Business Losses ,
Civil Authority Coverage ,
Commercial General Liability Policies ,
Coronavirus/COVID-19 ,
Infectious Diseases ,
Insurance Claims ,
Policy Exclusions ,
Property Damage ,
State Insurance Administrations
Although Material Adverse Change (“MAC”) clauses are quite prevalent in loan and financing documents, there is very little case law in Maryland dealing with the successful or unsuccessful enforcement of these clauses. With...more
3/31/2020
/ Ambiguous ,
Borrowers ,
Burden of Proof ,
Condition Precedent ,
Contract Terms ,
Coronavirus/COVID-19 ,
Default ,
Lenders ,
Line of Credit ,
Loans ,
Material Adverse Change Clauses (MACs) ,
Merger Agreements