Description
Forbearance Agreements are an integral part of commercial law. They establish an agreed- upon course of conduct between a lender and a borrower that, in the ultimate case, reinstates a defaulted loan into a performing loan once again. We will review the particulars of the lending relationship, including the review of loan documents now in default, discussing goals with your lender/client, commencing discussions with the borrower and counsel and ultimately (and hopefully) preparing the draft Forbearance Agreement for additional discussions and eventual execution.
Equally important is the required thorough review of loan documents to ascertain whether terms and conditions missing/absent in the original documents may be ‘recaptured’ by modifications/amendments to the Forbearance Agreement. Finally, if offered/available, additional collateral of the borrower and/or (if present) guarantor to further secure the loan (and mitigate the risk of an additional default) will be required to be prepared and included in the Forbearance Agreement and executed subsequent with its execution.
Forms of draft Forbearance Agreements will be distributed and discussed.
Online registration for this webinar will close on Thursday, October 13, 2022 at noon. If you would still like to register after this date, please call our office at 401.421.5740 and we can process your registration manually.
The RIBA assumes no responsibility for opinions, statements, and facts in any Continuing Legal Education/Annual Meeting program. Neither the opinions expressed in any program, nor its content represent the official view of the Rhode Island Bar Association or the views of its members.