Operative-Terms-to-Daily-Simple-SOFR-Amendment

These provisions implement Adjusted Term SOFR and are suited to accompany either the Conforming Changes Cover Amendment or Replacement Cover Amendment.  The blackline, against the Form of Amendment (Term SOFR) dated June 21, 2022, is attached below as well (it will open as a zip file where both files are located).

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Blackline-LSTA-Operative-Terms-to-Daily-Simple-SOFR-AmendmentBenchmark-Replacement-Conforming-Changes-vs-Term-SOFR-June-21-2022.pdfLSTA-Operative-Terms-to-Daily-Simple-SOFR-Amendment-Benchmark-Replacement-Conforming-Changes-Oct-14-2022.DOCX

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The Kirschner Case: This is the End

The Supreme Court denied Kirschner's petition for certiorari, finally ending the case. As LSTA's Elliot Ganz explains, this cements that syndicated loans are not securities,…