Financial covenant events of default: the borrower's perspective | Practical Law

Financial covenant events of default: the borrower's perspective | Practical Law

The combined effect of the unprecedented level of market turbulence in the debt and equity markets during 2008 and the anticipation of a recession throughout 2009 will focus the attention of many borrowers and lenders on financial covenants in facility agreements, and, more particularly, on borrowers' compliance with, or breach of, these covenants.

Financial covenant events of default: the borrower's perspective

Practical Law UK Articles 9-385-1026 (Approx. 5 pages)

Financial covenant events of default: the borrower's perspective

by Chris Lawrence, Macfarlanes LLP
Published on 23 Feb 2009
The combined effect of the unprecedented level of market turbulence in the debt and equity markets during 2008 and the anticipation of a recession throughout 2009 will focus the attention of many borrowers and lenders on financial covenants in facility agreements, and, more particularly, on borrowers' compliance with, or breach of, these covenants.