Finance lawyers Forum

[chingwoo]

For all you finance lawyers, how many templates do you use for your credit agreements?

Do you use specific templates for specific sponsors?

Doing a mass review of our credit agreements so trying to figure out how to batch up.

[Anonymous User]

Are you in private practice at a firm? This question is extremely context/client dependent, no clue what you mean by "batch up".

[Definitely Not North]

Yeah gonna need some more info and also there’s probably no good answer unless you’re bucketing very broadly. Credit agreements are typically heavily negotiated and usually end up pretty bespoke in the important parts even if you start from a form

[chingwoo]

At a lender with CLO exposure that has close to 1k total positions and 300 or so in the US. Basically trying to figure out if there are like four general credit agreement templates / structures that a range of finance lawyers or like 40. Entirely for sponsored deals.

Definitely seen significant crossover using the same agreement (ie; pro rata provisions are in 2.18) across different sponsors / law firms so just trying to figure out how many templates are floating around.

[chingwoo]

Yeah gonna need some more info and also there’s probably no good answer unless you’re bucketing very broadly. Credit agreements are typically heavily negotiated and usually end up pretty bespoke in the important parts even if you start from a form

It's a hunt for a specific deficiency that I'll likely be distributing out. You probably can guess what deficiency on my other comment .

[viperv]

For all you finance lawyers, how many templates do you use for your credit agreements?

Do you use specific templates for specific sponsors?

Doing a mass review of our credit agreements so trying to figure out how to batch up.

Most credit agreements are all based on the LSTA form--so I'd start there.

[chingwoo]

Yeah I'm fine it's just trying to make sure all the analysts can review correctly / efficienctly which is an issue.

[Definitely Not North]

Yeah gonna need some more info and also there’s probably no good answer unless you’re bucketing very broadly. Credit agreements are typically heavily negotiated and usually end up pretty bespoke in the important parts even if you start from a form

It's a hunt for a specific deficiency that I'll likely be distributing out. You probably can guess what deficiency on my other comment .

Ah — doing some LIBOR transition remediation? Currently doing a ton of that for different banks. AI can speed up the process/reduce costs if your outside counsel has it (I’ve been running that piece at my firm and, while far from perfect, it does make the review faster)

[Anonymous User]

Yeah gonna need some more info and also there’s probably no good answer unless you’re bucketing very broadly. Credit agreements are typically heavily negotiated and usually end up pretty bespoke in the important parts even if you start from a form

It's a hunt for a specific deficiency that I'll likely be distributing out. You probably can guess what deficiency on my other comment .

Ah — doing some LIBOR transition remediation? Currently doing a ton of that for different banks. AI can speed up the process/reduce costs if your outside counsel has it (I’ve been running that piece at my firm and, while far from perfect, it does make the review faster)

Worse haha; Serta uptier loophole checks.

-Chingwoo