Waiver and Consent Requests

Summary

This practice note provides an overview of waiver and consent requests. Borrowers often request waivers and/or consents when its circumstances have changed in a more temporary way than would warrant an amendment to the credit agreement. These situations may be handled through a waiver or consent, or through a forbearance or standstill agreement. This practice note covers the common types of consent and waiver requests made by borrowers, conditions the lenders may require to grant a waiver or a consent, and how to document such waivers and consents.