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Waivers Default

Amundsen Davis LLC

Forbearance Agreements: What Lenders Need to Know

Amundsen Davis LLC on

After an Event of DefaultContract occurs, it is important to understand the options available to the Lender other than demanding repayment or simply waiving the default. A Forbearance Agreement allows the Lender to preserve,...more

Jaburg Wilk

New Arizona Limited Liability Act - Do I Really Need a New Operating Agreement?

Jaburg Wilk on

The Revised Arizona Limited Liability Act ("New Act") has been effective since September 1, 2019 for new limited liability companies ("LLCs"). It now becomes effective for any existing LLCs on September 1, 2020. Especially...more

Bradley Arant Boult Cummings LLP

Pre-Bankruptcy Automatic Stay Waivers – More Valuable Than Ever These Days?

In the very unusual period in which we find ourselves today, it seems to be common wisdom that an avalanche of commercial loan defaults is coming. As such, it is a good time to take a fresh look at the terms and provisions...more

Patton Sullivan Brodehl LLP

Can a Loan Modification Waive the Borrower’s Right of Reinstatement?

Loans secured by a deed of trust typically provide that upon default (commonly, missed interest payments) the lender may elect to “accelerate” the loan, making the entire balance of principal and interest due....more

Kramer Levin Naftalis & Frankel LLP

Return of Yellowstone: The New York State Legislature Revives the Yellowstone Injunction

For more than 50 years, a commercial tenant threatened with eviction could count on obtaining a Yellowstone injunction tolling the tenant’s time to cure alleged lease defaults while challenging the legitimacy of those...more

Patton Sullivan Brodehl LLP

Loan Guaranties: Statutory and Legal Defenses Can Be Waived, But What About Equitable Defenses?

Guarantors of loans occupy a vulnerable position under California law. While direct borrowers often benefit from California’s robust statutory anti-deficiency framework, those protections are often unavailable for...more

Pillsbury Winthrop Shaw Pittman LLP

Final Regulations Will Affect Default Risk for Borrowers with Pension Plans

The Pension Benefit Guaranty Corporation (the PBGC) has adopted final regulations relieving certain sponsors of defined benefit pension plans from the obligation to report certain events that signal an increase in the plan’s...more

Womble Bond Dickinson

High Point Bank v. Highmark and Guarantor Liability in North Carolina

Womble Bond Dickinson on

When a borrower’s default results in a foreclosure sale and purchase of the secured property by the mortgagee lender, can a guarantor’s deficiency liability be reduced by the difference between the property’s fair market...more

Katten Muchin Rosenman LLP

New York Appellate Division Decision Provides Comfort for Secured Lenders Negotiating With Their Defaulting Borrowers

On October 28, the New York Supreme Court, Appellate Division – First Department affirmed the dismissal of claims brought by a defaulting borrower against its lender, Siemens First Capital Commercial Finance LLC*, in Whitecap...more

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