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The Devil in the Details

Last month, we discussed the fact that in theory, a borrower's issuance of junior secured debt is a boon for its senior secured lender. In practice, however, we pointed out that a senior secured lender should view proposed junior secured financing skeptically because the existence of such debt can become highly problematic for the senior lender. In Part Two, we continue our discussion, which focuses on additional elements and negotiating points that an inter-creditor agreement should contain.

35 minute read January 25, 2005 at 01:29 PM
By
Erica M. Ryland
The Devil in the Details

Last month, we discussed the fact that in theory, a borrower's issuance of junior secured debt is a boon for its senior secured lender.

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