In the second part of this two-part series, Baker McKenzie’s leveraged finance teams in London and New York consider available remedies under both English and New York law if commitments are not met. In the first part of this series we set out the importance of funding certainty and examined how that certainty is created under both English and New York law governed documentation. We now consider what the consequences might be for a borrower should a lender choose not to fund under a commitment and what remedies might be available in such situation.

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