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Asset Based Finance, Part 1 & Part 2 (Teleseminar)
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Asset Based Finance, Part 1 & Part 2 (Teleseminar)

2 CLE hours total

7/8/2014 to 7/9/2014
When: 07/08/2014 - 07/09/2014
1:00 PM to 2:00 PM
Contact: (404) 521-0781

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An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.

Asset Based Finance, Part 1 & Part 2 - 2 CLE hours

Business loans generally come in two varieties – loans based on a company’s cash flow and loans based its tangible or intangible assets. With credit still tight, many companies often turn to asset-based finance to fund their operations and expansion. Credit is based on the company’s inventory, receivables, equipment or chattel paper on a term or revolving basis. Each type of collateral and loan structure has its unique drafting nuances that can help or hinder the company. This program will provide you with a practical guide to structuring asset-based loans based on inventory, receivables, equipment and chattel paper loans; understanding term and revolving loans structures; and enforcement issues and special considerations in bankruptcy.

Day 1 – July 8, 2014:
  • Asset v. cash flow borrowing – and how it impacts reps, warranties and covenants in loan documents 
  • Overlay of UCC Article 9 law and practice on asset-based finance
  • Types of loans – revolving loans based on inventory and receivables, terms loans based on equipment, and chattel paper financing
  • Structures – bilateral v. syndicated loans, letter of credit facilities, second liens, inter-creditor agreements
  • Compensation to lender – review of range of fees

Day 2 – July 9, 2014:
  • Focus on specific types of loans and structuring and drafting nuances of each
  • Equipment financing – attachment, perfection and priority issues 
  • Inventory financing – eligibility, lending formula, and attachment 
  • Receivables financing – identifiable cash proceeds, lockbox arrangements and control agreements
  • Anticipating enforcement – repossession, disposition, and retention
  • Bankruptcy issues 


Edwin E. Smith is a partner in the Boston office of Bingham McCutchen, LLP, where he has a national commercial law practice. As a Uniform Law Commissioner for the Commonwealth of Massachusetts, he served as a member of the drafting committee for the revisions of Article 9 of the Uniform Commercial Code. He formerly served as chair of the UCC Committee of the ABA Business Law Section and as the ABA Advisor/Liaison to the Permanent Editorial Board of the UCC. He is a member of the American Law Institute and the National Bankruptcy Conference, and is the past president of the American College of Commercial Finance Lawyers. He received his B.A. from Yale University and his J.D. from Harvard Law School.

Steven O. Weise is a partner in the Los Angeles office Proskauer Rose, LLP, where his practice encompasses all areas of commercial law. He has extensive experience in financings, particularly those secured by personal property. He also handles matters involving real property anti-deficiency laws, workouts, guarantees, sales of goods, letters of credit, commercial paper and checks, and investment securities. Mr. Weise formerly served as chair of the ABA Business Law Section. He has also served as a member of the Permanent Editorial Board of the UCC and as an Advisor to the UCC Code Article 9 Drafting Committee. Mr. Weise received his B.A. from Yale University and his J.D. from the University of California, Berkeley, Boalt Hall School of Law.

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