Loan Agreement Schedule Preparation

Summary

This practice note describes how to prepare, review, and update the schedules that are appended to a credit agreement. This practice note focuses on the disclosure schedules, in which the borrower provides information about its assets or organizational structure or certain exceptions to ensure the accuracy of its representations and warranties. These schedules are prepared by the borrower's lawyers, working closely with their clients, and can be subject to heavy review and negotiation. This note includes a description of the types of schedules, some key negotiation points in deciding what to schedule, and some pointers on how to draft them and what lender's counsel should look for in reviewing these schedules. Finally, the note addresses what you should do if you need to update this information.