Market Trends 2020: Defaulting Lender and "Yank-a-Bank" Provisions

Summary

This practice note provides an overview of defaulting lender provisions, including Yank-a-Bank provisions which allow the borrower to replace a lender in the syndicate, and discusses recent market trends in publicly filed credit agreements from the first half of 2020. This practice note also includes links to the relevant transaction documents using Transactions Search powered by Intelligize®, along with links to additional resources in Practical Guidance.