28Aug
Debt-Free Deals with "Free Debt" – Practical Solutions for Sellers with PPP Loans in M&A
The majority of middle-market M&A has followed a similar structure for quite some time: while ensuring normalized working capital, the seller sweeps “Cash” and pays off all “Debt” at closing. The nuance, of course, lies in the definitions of “Cash” and “Debt.” “Cash” is usually a straightforward definition and excludes restricted cash, as well as checks and wires in transit. On the other hand, the definition of “Debt” usually takes up one-half to three-quarters of a page and, with limited...
By:
Holland & Hart LLP
Source Url: https://www.jdsupra.com/legalnews/debt-free-deals-with-free-debt-46193/
Related
The Setting Every Community Up for Retirement Act of 2019, or "Secure Act", has been passed by Congr...
Read More >
One of the essential factors for plaintiffs in discrimination cases can be showing that they were tr...
Read More >
The overall ongoing trend in major Western economies of tightening Foreign Investment Control is not...
Read More >
On December 23, the National Labor Relations Board reversed its 2014 decision in Babcock & Wilcox Co...
Read More >
The Small Business Administration’s latest guidance tells PPP lenders under what conditions they ma...
Read More >
Seyfarth Synopsis: In 20/20 Communications, Inc. v. Crawford, the Fifth Circuit joined eight other c...
Read More >