Effective as of August 1, 2018, Delaware amended its Limited Liability Company Act to allow LLCs to divide themselves into two or more LLCs and to allocate their assets, liabilities, rights and duties among the newly divided LLCs pursuant to a “plan of division”. Loan documents typically do not contemplate divisions, and so lenders should consider whether their agreements need to be modified to prevent leakage of credit support through the use of this new device. Our speakers discussed:

  • New Delaware amendment which took effect this month
  • Typical credit agreement language which may be impacted by this amendment
  • Suggestions for possible edits to credit agreements


Wednesday, September 5, 2018
4PM to 4:30PM | Webcast Only
0.5 | CLE Credit | For NYS Transitional and Non-Transitional Areas of Professional Practice


  • Emin Guseynov, Orrick, Herrington & Sutcliffe, LLP
  • Tal Hacohen, Orrick, Herrington & Sutcliffe, LLP
  • Bridget Marsh, LSTA, Intro

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