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Commercial Lending - Illustrative Lender Representations

The following is a list of illustrative lender transactions handled by attorneys in Verrill's Commercial Lending Group:

  • Representation of lender, administrative agent and swingline lender in connection with an agented secured loan facility aggregating $90 million that includes a revolving loan facility, a letter of credit facility, a swingline loan facility and a term loan, for a petroleum products distribution business
  • $44 million mortgage loan to finance the acquisition of an office complex in Portland, Maine
  • Representation of lender and administrative agent in a secured agented loan facility aggregating $16 million, to finance the acquisition of specialized tanker trucks by a natural gas company
  • $16.5 million construction and term mortgage loan to finance the conversion of a building into an office building
  • $24 million mortgage loan to refinance a commercial building in New York City
  • $15.1 million mortgage loan to acquire a commercial building in Boston
  • $17.4 million construction and term mortgage loan to finance the acquisition and renovation of a commercial building in New York City
  • $24.5 million mortgage loan to finance the acquisition of a commercial building in Somerville, Massachusetts
  • $10.5 million mortgage loan to refinance a hotel located in Durham, North Carolina
  • $12 million mortgage loan to finance the acquisition of two medical office buildings located in Maine
  • $5.6 million construction mortgage loan to a non-profit corporation to finance the construction of a new residential care facility in Maine
  • $20 million unsecured reducing revolving loan facility for a multi-national educational business
  • Secured loan facility aggregating $2.7 million that includes a revolving loan and a mortgage term loan, for a medical device manufacturing business
  • Secured loan facility aggregating $10 million that includes a working capital revolver, an equipment revolver and a term loan, including a letter of credit facility, for a group of food processing businesses
  • Secured loan facility aggregating $17 million that includes a line of credit and a term loan, for a food distribution business
  • Secured loan facility aggregating $24 million that includes a line of credit and a term loan, for a multi-state manufacturing business
  • $25,000,000 secured line of credit for a multi-state industrial and mechanical construction business
  • Secured loan facility aggregating $10.3 million that includes term loans, mortgage loans and a revolving loan facility with a letter of credit facility, for a manufacturing business with locations in two states
  • Secured loan facility aggregating $5 million that includes a line of credit and a term loan, for a communications business
  • Secured loan facility aggregating $11.8 million that includes multiple lines of credit, revolving lines that convert to term loans, and term loans, for a group of equipment repair and restoration businesses
  • Secured loan facility aggregating $28.2 million that includes a line of credit that is seasonally adjusted, a letter of credit facility, term loans and an equipment revolver, for a regional product distribution business
  • Secured loan facility aggregating $6.875 million that includes multiple term loans, a construction loan (converting to term) and multiple lines of credit (for equipment acquisition and for working capital), for a group of nursing homes
  • Secured loan facility aggregating $9.2 million that includes lines of credit and term loans, for a group of companies in the natural resources business
  • Secured loan facility aggregating $8.05 million that includes term loans, a working capital line of credit and an equipment acquisition line of credit, for a machine manufacturing business
  • Secured loan facility aggregating $4.05 million that includes a term loan and a line of credit, for a local utility business
  • $10,000,000 line of credit facility for a multi-national paper making company
  • Representation of letter of credit bank in connection with the issuance of $6,525,000 in aggregate amount of Revenue Obligation Securities issued in connection with an expansion of an existing manufacturing facility
  • Secured loan facility aggregating $30 million that includes an asset-based working capital line of credit and an equipment line of credit, for a distributor
  • Representation of letter of credit bank in connection with the issuance by the Finance Authority of Maine of $5,065,000 in aggregate amount of Revenue Obligation Securities in connection with the construction of a new publishing facility
  • $4,500,000.00 mortgage loan for the acquisition of an office building in New Hampshire
  • Secured loan facility aggregating $5 million that includes a line of credit, term loan and equipment financing facility, for a tool and die manufacturing company.
  • Representation of lender and administrative agent in connection with several different multi-lender line of credit loans (secured and unsecured) provided to publicly held Real Estate Investment Trusts
  • Representation of lender in connection with several so-called "mezzanine loans" secured by pledges of the limited liability company membership interests in the single-purpose entities that own real estate, including the negotiation of intercreditor agreements between the first mortgage lender and the mezzanine lender
  • Continuing representation of the Maine Health and Higher Educational Facilities Authority (MHHEFA), an instrumentality of the state which issues bonds for the construction and renovation of hospitals, nursing homes and higher education facilities

Firm Highlights

Blog

Reporting Deferred Compensation on Form 990

Tax-exempt organizations often provide deferred compensation to their officers, key employees, and most highly compensated employees. Like current compensation payable to such employees, deferred compensation must be reported annually on Form 990, Schedule J...

News

Verrill Welcomes Attorney Nicholas Anania

(January 18, 2021) – Verrill is pleased to welcome attorney Nicholas Anania to the firm’s Portland, Maine office. Anania focuses his practice on a broad range of transactions and corporate work, including mergers and...

Matter

Longroad Energy

Verrill represents Longroad Energy (“Longroad”) on its renewable energy work in Maine. Longroad is a Boston, MA-headquartered renewable energy company that develops and operates wind and solar energy projects throughout North America. Verrill has...

Publication/Podcast

The Regulatory Sprint is Over - What’s at the Finish Line Under the New Stark and AKS Final Rules?

The U.S. Department of Health and Human Services (HHS) completed its “Regulatory Sprint” by finalizing changes to regulations pertaining to two federal fraud and abuse laws. On December 2, 2020, the Centers for Medicare...

Publication/Podcast

Massachusetts Health Care Bill Makes Several Significant Changes

While you were celebrating the New Year, Governor Baker signed Chapter 260 of the Acts of 2020, an “Act promoting a resilient health care system that puts patients first,” the result of the Legislature’s...

Publication/Podcast

Finding Teeth in Massachusetts' Prompt Payment Act

In Tocci v. IRIV Partners, LLC, Boston Harbor Industrial Development LLC and Hudson Insurance Co. (November 19, 2020, Sup. Ct. 19-405), the Massachusetts Superior Court granted summary judgment on a contractor’s breach of contract...

Matter

Swift Current Energy

Verrill represents the 100-megawatt Three Rivers Solar Project in Hancock County, Maine. Verrill assists the project with real estate and environmental permitting work, including negotiation of a protocol to allow the project to proceed...

Blog

DOL Guidance on Missing Pension Plan Participants - Part II

On January 18, we published a blog post regarding new Department of Labor (“DOL”) guidance on missing plan participants. That post is available here , and describes the DOL’s guidance on Missing Participants...

Blog

DOL Guidance on Missing Pension Plan Participants

The Department of Labor (“DOL”) has undertaken a nationwide compliance initiative to ensure that retirement plan participants receive the benefits that they were promised when they reach their retirement age. To that end, the...

News

Verrill Ranked in American Bar Association’s Health Law Top 10 in the Northeast

(January 19, 2021) – Verrill was recently ranked third in the American Bar Association (ABA) Health Law Section's Eighth Annual Top 10 Recognition for the Northeast Region. This is the sixth consecutive year that...

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