First-Out Revolver Clauses | Practical Law

First-Out Revolver Clauses | Practical Law

Standard Clauses for "first-out" revolver provisions to be included in loan agreements and other related loan documents for first-out credit facilities where one lender group is paid ahead of other equally and ratably secured lenders in certain circumstances. These Standard Clauses have integrated notes with important explanations and drafting and negotiating tips.

First-Out Revolver Clauses

Practical Law Standard Clauses 3-523-0952 (Approx. 18 pages)

First-Out Revolver Clauses

by Marc Hanrahan and Jerome McCluskey, Milbank, Tweed, Hadley & McCloy, LLP, with Practical Law Finance
Law stated as of 08 Oct 2015 • USA (National/Federal)
Standard Clauses for "first-out" revolver provisions to be included in loan agreements and other related loan documents for first-out credit facilities where one lender group is paid ahead of other equally and ratably secured lenders in certain circumstances. These Standard Clauses have integrated notes with important explanations and drafting and negotiating tips.