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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 for the Loan Agency Group for SRS Acquiom. As an accomplished financial industry professional, she leads the loan agency product.
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.