Practical writing on financing structures, offering documents, ownership agreements and enforcement — written for the people who negotiate these terms rather than for other lawyers.
General commentary is no substitute for advice on a specific matter. Contact the firm to discuss yours.
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A guaranty is frequently the last document reviewed and the one with the longest reach. The obligations it creates often outlast the transaction that produced it.
Both sit between senior debt and common equity, and both are often described in similar economic terms. The differences that matter appear in the collateral, the remedies and the senior lender’s requirements.
The choice between Rule 506(b) and Rule 506(c) governs how a sponsor may market an offering and who may invest in it. It is made early, and it is difficult to reverse once marketing has begun.
