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Maintaining Revolving Line Availability — Law360
March 27, 2020 | Issue No. 70

A Law360 contributed article reports on some key considerations for maintaining availability of revolving credit facilities and the continued compliance by companies faced with the wide-ranging effects of COVID-19. Under certain circumstances, companies may consider preemptively seeking an amendment or waiver to avoid an anticipated default, or to create borrowing capacity, bearing in mind the ongoing obligations with respect to the representations and warranties under the credit agreement. Investment funds are similarly faced with reduced availability as a result of various exclusion events at the investor level, triggering a decrease in the borrowing base. Funds are encouraged to review their credit agreements to ensure ongoing access to their facilities. The article is available here

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