Course curriculum

    1. Slides

    2. Introduction

    3. Why Learn a Framework For Analyzing LMEs

    4. Overview of LME Litigation / Litigation & Settlements

    5. Common Legal Issues - Contractual Claims

    6. Serta & Mitel Litigation - "Open Market Purchase" / Courts Demand Contractual Basis For Claims

    7. Ongoing Disputes

    8. Lessons From Recent LME Litigation

    9. LME Covenant Analysis - How it Works / Liability Management Options

    10. LME 1.0, 2.0, 3.0

    11. The Framework For Analyzing LMEs

    12. The Framework For Analyzing LMEs / Goals of the Parties

    13. Is the Borrower Considering an LME?

    14. The Framework For Analyzing LMEs / Subordination

    15. Why Do Guarantees Matter / Case Study - Guarantor Coverage

    16. Why Does Collateral Matter / The Three Buckets Analysis / Collateral Release

    17. How to Analyze The Capital Structure

    18. The Framework For Analyzing LMEs / Defensive Maneuvers / How to Analyze Blockers

    19. The Framework For Analyzing LMEs / Amendments / Amendments vs. Waiver

    20. Case Study - Amendments & Waivers / How to Analyze Amendments

    21. The Framework For Analyzing LMEs - Priming Risk

    22. Priming (Uptiers)

    23. Debt Covenant - How it Works / Debt Covenant Analysis - 3 Data Points

    24. Liens Covenant - How it Works / Calculating Secured Debt Capacity - In Practice

    25. How to Analyze Secured Debt Capacity

    26. The Framework For Analyzing LMEs / Priming (Drop Downs) / When is the Restricted Payments Covenant Relevant

    27. Restricted Payments Covenant - How it Works

    28. Build-Up Basket - Conditions to Use

    29. Unrestricted Subsidiaries & Dropdowns

    30. How to Analyze Dropdown Capacity

    31. The Framework For Analyzing LMEs / Pro Rata Provisions / Comparing the Language

    32. Anti-Serta Language & DIP Financing Exception

    33. How to Analyze Pro Rata Repayments?

    34. The Framework For Analyzing LMEs / Asset Sales Covenant - How it Works

    35. Asset Stripping Mechanics / Asset Sales Covenant - FMV & C/CE Conditions

    36. Case Study: Fair Market Value / Case Study: Asset Sales Application of Proceeds

    37. How to Analyze the Asset Sales Covenant?

    38. The Framework For Analyzing LMEs - Decision Tree

    39. Q&A Question 1: Is there any way to establish whether reclassification has been used, or to determine the effect of a super grower?

    40. Q&A Question 2: Is there a way to determine whether a borrower has designated a subsidiary as an Unrestricted Subsidiary?

    41. Q&A Question 3: Doesn’t the Asset Sales covenant restrict the borrowers ability to dispose of assets? How does it function to increase Restricted Payments capacity?

    42. Q&A Question 4: Are there any other provisions apart from Asset Sales that can increase Restricted Payments capacity?

    43. Q&A Question 5: Where the primary goal of the borrower is to extend maturity would it be more likely to be a pro rata deal than a non-pro-rata deal? 

    44. Q&A Question 6: What are we seeing in sacred rights?

    45. Q&A Question 7: Can I factor my receivables and then use freed up capacity to borrow more debt?

About this course

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  • 45 lessons
  • 1.5 hours of video content

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