It’s an Event! An Event of Default…

Your lender client just called you and notified you that its borrower is on the verge of a default under its credit agreement. Review this resource kit to make sure you are up to speed on the types of defaults and standard grace periods to correct a default and materiality thresholds to trigger a default. 

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Related Content

• Events of Default Provisions in Credit Agreements
  Read this practice note which discusses the events of default section of a credit agreement. These provisions set forth the events or circumstances that the lenders believe will threaten the borrower’s ability to repay the loans as and when due.

• Events of Default Enforcement, Remedies, and Cures (Credit Agreement)
  Review this practice note, which discusses the cure or waiver of events and defaults, and how proceeds following an event of default are distributed to creditors under a “waterfall.”    

• Events of Default and Remedies Clauses (Credit Agreement)
  Use these events of default and remedies clauses in a credit agreement in a syndicated loan transaction. These clauses state the typical scenarios that would cause an event of default under the credit agreement. 

• Borrower Default and Lender Next Steps
  Review this practice note, which provides a guideline of actions that lenders may take following, and sometimes prior to, a default or an event of default under a credit agreement by a borrower.

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