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Limitations on Lender Assignments To Competitors In Subscription Credit Facilities and Other Fund Financings

19 March 2015
Winter 2015 Fund Finance Market Review
In a typical syndicated credit facility, the lenders are generally prohibited from assigning their rights and obligations under the credit agreement without the borrower’s consent (typically not to be unreasonably withheld) unless the borrower is in default of its obligations under the credit agreement or the assignment is made to an existing lender, an affiliate of a lender or a non-natural person that meets certain other specified criteria1 (each such person, an “Eligible Assignee”).


  • Kristin M. Rylko
    T +1 312 701 7613
  • Zachary K. Barnett
    T +1 312 701 8841
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