Guest Writer – Christopher T. Nixon, Winstead PC In my earlier posting, I introduced this topic, and addressed several “challenges” in the meaning of the MAC clause itself in the particular factual setting of a distressed debt: is the change “material?” is the change “adverse?” I then noted that a lender should be prepared for… Continue Reading
Tag Archives: non-monetary default
Into the Looking Glass: MBA Servicing & Technology Conference – day two
Posted in Good Times for Lenders, Market Trends, Single Purpose Entity, Tough Times for Lenders, Workout IssuesYesterday (Thursday) was the second, and my last, day of the conference. As I did with the first day of the conference, I summarize some of the sessions. So, here’s the executive summary: From a session on bankruptcy issues: as reported by the Commercial Mortgage Securities Ass’n in its press release, the bankruptcy court in the General… Continue Reading
Evaluating Material Adverse Change (MAC) Clauses in the Loan Default Context (Part 1 of 2)
Posted in 1 Guest Writers, Good Times for Lenders, Tough Times for LendersGuest Writer – Christopher T. Nixon, Winstead PC In an earlier posting we briefly covered the importance distinction between a “monetary” default and a non-monetary default. One non-monetary clause getting increased attention in the “material adverse change” clause. This is the first of a two-part series on this topic. Commercial lenders often include Material Adverse… Continue Reading
Loan Defaults – Monetary vs. Non-Monetary
Posted in Articles, Good Times for Lenders, Tough Times for LendersSo, you can readily see that your collateral is headed south. Your job is to jump on it and come up with some solutions. Before you jump into action, it would be wise to take a breath and consider what the default situation is and why you have the right to start taking action –… Continue Reading