Tag Archives: Amendments

6 Months Later, Lenders Continue To Address ECP Issues

As most market participants are aware, the Dodd-Frank rule requiring all swap guarantors to be eligible contract participants ("ECP"s) under the Commodity Exchange Act became effective on March 31, 2013. Six months after effectiveness, lenders continue to address ECP issues under existing documents, and should be sure they are properly protected under new agreements.… Continue Reading

Can You Amend Your Loan Agreement Without a 100% Vote?

One question we hear a lot these days is whether a syndicated loan agreement can be amended to do certain things without consent of all of the lenders. With more borrowers in financial trouble, it has become increasingly important - and sometimes necessary for the borrower's survival - to get amendments passed quickly. But it can be difficult, if not impossible, to get all of the lenders to agree. This is part one of a series of posts about what to do when this issue comes up.… Continue Reading