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Welcome! Strafford is now BARBRI! The expert courses you know from the trusted global leader in legal education.
About the Course
Introduction
This CLE course will guide commercial finance counsel in drafting intercreditor agreements and those seeking to enforce or resist intercreditor agreements during bankruptcy proceedings. The panel will discuss ways that first lien and second lien lenders can best protect their economic interests in the event of bankruptcy.
Description
Bankruptcy courts must often resolve issues regarding the enforceability of intercreditor agreements between first and second lien lenders. An intercreditor agreement executed by first and second lien lenders who have separate credit agreements with the borrower is quite typical.
Section 510 of the Bankruptcy Code states that subordination agreements are enforceable in bankruptcy cases under non-bankruptcy law. Over the years, case law has evolved regarding the enforceability of provisions that restrict (what some courts believe are) fundamental bankruptcy rights.
Listen as the panel of experienced finance and bankruptcy attorneys discusses the forms of intercreditor agreements, current case law on the enforceability of intercreditor agreements in bankruptcy proceedings, and how first lien and second lien lenders can protect their economic interests in the event of bankruptcy.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Live Online
On Demand
Date + Time
- event
Tuesday, October 22, 2024
- schedule
1:00 p.m. ET./10:00 a.m. PT
- Recent case law on the enforceability of intercreditor agreements in bankruptcy proceedings
- Cases holding that an intercreditor agreement cannot waive a second lien lender's fundamental bankruptcy rights
- Cases holding that an intercreditor agreement may waive statutory bankruptcy rights if enforceable as a matter of applicable state law
- Best practices when drafting and negotiating intercreditor agreements to protect lender interests, including discussion of forms of intercreditor agreements currently being used in the market
The panel will review these and other relevant issues:
- What are the lessons for lenders' counsel from recent bankruptcy case law regarding intercreditor agreements?
- Which intercreditor provisions require special attention as to enforceability in bankruptcy?
- How can senior lien and subordinate lien lenders best protect their interests in bankruptcy?
The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> Related Courses
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