Commercial Finance

Commercial Finance matters, through the representation of financial institutions and other lenders, involving corporations, public bodies, and other entities, have been at the core of the firm's Practice since its formation in 1984. Maynard attorneys routinely represent numerous state and national banks, insurance companies and other institutional lenders as general and special counsel in a variety of matters including financing transactions, regulatory matters and general commercial matters. Over the years, the firm has provided representation with respect to many of the largest commercial loan transactions in Alabama. Loan amounts have ranged from $500,000 to $2 billion. Lawyers in this area of the firm's Practice have structured a variety of loans and other financing transactions, including:

• Secured and unsecured revolving loan facilities
• Secured and unsecured term loan facilities
• Hospital/nursing/assisted living home loans
• Project financing
• Bank holding company loans
• Airplane financing
• Ship mortgage financing
• Multi-lender credit syndications
• Real estate and construction loans
• Industrial development project financing and other tax-exempt financing, with and without credit enhancement
• Letters of credit
• Asset-based loans
• Asset securitizations
• Sale and leaseback transactions
• Affordable housing loans
• Medical office building loans
• Ground lease financing
• Equipment financings (including leases)

The firm frequently acts as special counsel in a variety of multi-state transactions involving out-of-state lenders, including providing third party opinions and advice and assistance relating to mortgage tax issues. Attorneys in the Commercial Finance Group also have extensive experience in counseling clients with respect to various aspects of debtor-creditor relations and regulatory matters, such as interest and usury, loan charges and consumer credit protection, as well as the various theories of "lender liability."

Representative transactions involving the Commercial Finance Group include:

• Representation of the lender in a complex financing of a national broadcasting media company involving multiple credit facilities and preferred stock (totaling $2 billion) and real estate collateral consisting of media properties located throughout the United States
• Representation of the lender in a complex financing of a national newspaper company involving multiple credit facilities and preferred stock (totaling $1.8 billion) and real estate collateral consisting of newspaper properties located throughout the United States
• Representation of the lender in a complex financing of a resort developer involving multiple credit facilities and preferred stock (totaling $750 million) and real estate collateral consisting of resort properties located in Alabama
• Representation of letter of credit-issuing bank in credit-enhanced, bond transactions in amounts ranging from $2 million to $20 million
• Representation of the agent bank in a $150 million multi-lender syndicated revolving credit and letter of credit facility for an insurance company
• Representation of the agent bank in a $1 billion multi-lender syndicated revolving credit and letter of credit facility for a public life insurance company
• Representation of the agent bank in a $750 million multi-lender syndicated revolving credit and letter of credit facility for a soft drink bottling company
• Representation of the agent bank in a $125 million multi-lender syndicated revolving credit and letters of credit facility for a stevedoring company
• Representation of the agent bank in a $50 million multi-lender syndicated letter of credit facility for a private education company
• Representation of a regional lender in connection with restructurings and workouts of troubled credits
• Representation of a regional lender in connection with credit facilities for the purpose of acquiring and developing residential subdivisions
• Representation of the lender in acquisition financing of senior housing facilities in Alabama
• Representation of the lender in acquisition financing of senior housing facilities in Texas
• Representation of the lenders in various post-petition financing arrangements in chapter 11 bankruptcy proceedings secured by real and personal property assets of the bankruptcy estate
• Representation of a regional lender in financing the construction and/or rehabilitation of affordable housing projects across the Southeast, including handling issues concerning HOME loans, HAP Contracts, Section 231 decouplings, and other similar matters
• Representation of borrowers in various large corporate financings, including syndicated senior revolving credit and term loan facilities, both secured and unsecured, securitized real estate financings, sale/leasebacks and other specialized financings

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