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Continuing Considerations
June 30, 2020 | Issue No. 13
Partner | Real Estate
Associate

As COVID-19 continues to cause wholesale disturbance of numerous industries, lenders and borrowers will equally need to comprehend the potential consequences of their particular rights and obligations under their loan documents. While the crisis plays out, and as it becomes more apparent that the effects of COVID-19 will be enduring, lenders and borrowers may seek to implement material adverse effect (an “MAE”) clauses contained within documents. Ultimately, the issue they will face is whether COVID-19 is considered an MAE under their respective loan documents.

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Partner | Real Estate
Associate | Real Estate

In this market update, we discuss below some of the developments we have seen in the real estate financing sector for the last three months, and what’s likely to come.

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Partner | Real Estate
Associate | Real Estate

The Government passed the Coronavirus Act 2020 in March 2020 which provides various emergency measures. Amongst these, a ban on forfeiture of lease was imposed from 25 March 2020 to originally 30 June 2020 so that landlords may not forfeit a lease where it is due to non-payment of rent during this period.

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Partner | Real Estate
Associate | Real Estate

As the real estate industry continues to navigate the COVID-19 pandemic, lenders and borrowers have been forced to confront many new challenges. Simultaneously, the pandemic has heightened the importance of certain issues that are ever-present in the lending market – namely, the borrower’s desire to minimize costs and maximize repayment flexibility, and the lender’s desire for liquidity in the secondary markets. One loan feature which is emblematic of these somewhat conflicting considerations is a loan term for a lender to make future advances.

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Here is a rundown of Cadwalader's recent work on behalf of clients.

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William P. McInerney
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Duncan Hubbard
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Fredric L. Altschuler
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Melissa C. Hinkle
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Holly Marcille Chamberlain
Partner
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Alan W. Lawrence
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Jeremy Cross
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Bonnie A. Neuman
Partner
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bonnie.neuman@cwt.com

Christopher J. Dickson
Partner
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Matthew Robertson
Partner
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matthew.robertson@cwt.com

Steven M. Herman
Partner
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steven.herman@cwt.com

   
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