ERISA provisions in credit and financing agreements are often not as extensive as those found in purchase and merger agreements, where they serve to alert and protect buyers against costly compliance problems. While the provisions in credit agreements also can be used during negotiations to identify potential liabilities of the borrower, the primary focus is typically on defined benefit plan funding and termination liabilities, which are often more likely to give rise to liens or other rights that could impair the lender's rights.

Practical Law's Employee Benefits & Executive Compensation service contains resources to help draft and negotiate credit agreements, including: