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Our checklist for hiring a successor agent will help you follow best practices when a facility agent on a distressed credit facility resigns or is removed by the lenders. If not handled correctly, the disruption of having a facility agent resign or be removed can interrupt the orderly administration of a credit facility. Be sure to follow best practices from our team of experts. Topics covered in this helpful checklist include:
Process for Initiating the Resignation of a Facility Agent
- Voluntary Resignation Process
- Involuntary Resignation Process
Process for Appointing the Successor Facility Agent
- Required Consents
- Successor Agent Agreement
Best Practices for Appointing a New Facility Agent
- Start Early
- Communicate
- KYC
- Confirm Positions
Download the checklist above.
Renee Kuhl
Managing Director, Loan Agency tel:612-509-2323
Renee is the managing director of the SRS Acquiom Loan Agency Group. With more than 15 years of experience as administrative and collateral agent on loan transactions and more than ten years managing teams in loan agency and restructuring products, she is an accomplished financial industry professional and leads the loan agency business globally.
Before joining SRS Acquiom, Renee served as an administrative vice president at Wilmington Trust, N.A., most recently leading the loan agency and restructuring products. In addition to her 10 years at Wilmington Trust, she also worked for Wells Fargo Bank, N.A. in the corporate trust and shareholder services departments.
Renee has a Juris Doctorate from Mitchell Hamline School of Law in Minnesota, and a B.A. in political science and history from Azusa Pacific University in Azusa, California.