Finance Transactions: Structuring Legal Opinions for Amendments, Joinders, New Collateral, and ExtensionsRead Time: 1 min
When a loan is modified, the lender will typically require a new or updated opinion of counsel regarding authority, enforceability, and other matters relating to the loan. Whether payment terms are being amended, new borrowers or guarantors are added, there is a change in the collateral, new funds are advanced, or the loan is being extended, there are complex issues to consider.
When should lender’s counsel require an opinion on both the applicable amendments and the underlying loan documents? What UCC perfection issues need to be covered in the opinion when there is new collateral? New debt? A new borrower? On Tuesday, October 11, 2022, Marshall Grodner (Baton Rouge) will co-present a Strafford CLE course on the issues finance counsel should consider when rendering or reviewing opinions in connection with various types of loan modifications.