Navigate complex commercial loan documents and understand the key components of a credit agreement.
Commercial loan transactions are complex, often involving multiple parties as lenders, borrowers, and guarantors, different types of collateral security, many complex business terms, and the possibility of bankruptcy. Commercial loan documentation reflects this complexity, and lenders and borrowers need to understand the business and legal issues involved in drafting and enforcing such documentation. This program will help lenders, borrowers, and their counsel understand the basic legal and business issues that commercial loan documentation must address, the basic documents used to address those issues, and the typical terms of those documents, with a focus on how those terms would be enforced in a loan default scenario.
Topics Covered
Upon completion of this subject, students will have a solid background in the key legal and financial concepts addressed in typical commercial loan documentation. This will allow you to make more informed decisions and provide proactive, forward-thinking counsel to your clients. This subject addresses various topics, including:
- The key terms and components of a commercial credit agreement, including representations and warranties, covenants and events of default
- Issues involved in drafting promissory notes and guarantees, including the structural, technical and legal considerations that go into creating these documents
- Requirements of commercial loan collateral documentation, including an overview of the various types of agreements and the situations they are best suited to
Continuing Education Credits
Commercial Loan Documentation may qualify you for continuing education credits. You may also put it towards completion of the ABA Certificate of Banking Compliance program. Lorman Education Services is listed in the national registry of continuing professional education (CPE) sponsors.
Training Options
All Lorman Education Services programs have been designed with the flexibility necessary to meet the time constraints of today’s busy professionals. Our commercial loan education training package is available as an archived webinar so you can access it at any time, from any Internet-enabled computer. You can also download an MP3 of the webinar to listen to it on a device of your choosing, or order a USB flash drive containing the audio files and associated reference materials.
Helping Legal Professionals Expand Their Practice
Laws around commercial real estate are changing constantly. Most law organizations recommend ongoing professional development to stay on top of the latest developments. At Lorman Education Services, we give busy professionals multiple options for furthering their practice and expanding their knowledge.
We routinely update our courses to reflect the latest legal changes and financing trends nationwide. View our complete selection of webinars and programs by visiting our Training section.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Basic Principles
- Borrowers, Guarantors, and Their Assets
- Lenders, Agents, and Participants
- Basic Legal Considerations
- Basic Loan Document Provisions
- Security for the Loan
- Default and Remedies
- Bankruptcy Considerations
Boilerplate and Why It Is Important
- Choice of Law and Consent to Jurisdiction and Venue
- Recourse Limitations
- Indemnities
- Assignment and Participation Provisions
- Amendment Provisions
- Further Assurances
Basic Loan Documents and Their Terms
- Loan Agreements and Promissory Notes
- Guaranties
- Authorization Documents
- Legal Opinions
Basic Security Documents and Their Terms
- Perfection of Liens and Security Interests
- Personal Property Security Documents
- Real Property Security Documents
- Ancillary Security Documents
Questions and Answers
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 28, 2023.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- IL CLE 1.0
- This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
- NH MCLE 1.1
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 65 Minutes.
- NV CLE 1.0
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
William R. Wyatt
Sheppard, Mullin, Richter & Hampton LLP
- Partner in Sheppard, Mullin, Richter & Hampton LLP’s Menlo Park, CA office
- Represents lenders, agents, participants, and borrowers in documenting, restructuring, and enforcing commercial loan transactions secured by both real and personal property
- Has presented webinars on foreclosing on real and personal property collateral and on due diligence considerations for participation loans
- Member of the New York and California bars, and has practiced both in Sheppard Mullin’s New York and San Francisco offices
- Can be contacted at [email protected] or 650-815-2655
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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