VRP Law Group, P.C.

A Boutique Business, Employment and Intellectual Property Law Firm

Vihar Patel - Partner
312-854-7090
vihar@vrplaw.com

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Our Latest Blog Post

Commercial Loan Documentation Practices of Lenders and Bankers: The Good, the Bad and the Ugly!

Most commercial banks and lenders utilize laser pro or commercially available loan documents for most typical loans. However, there is a tendency to issue and send various letters and amendments to the promissory note throughout the process that often can create a misunderstanding, a lack of meeting of the minds and ambiguities in the interpretation of the promissory note and/or any associated guarantees. In a recent case, the Lender had issued two letters of credit, executed a promissory note, and a guarantee without taking the time to cross-reference the documents and fully incorporating the borrowing bases in both all documents. The total amount of the loan or the line of credit was increased from 2 million to 2.6 million, but without incorporating the changes in the letter agreement and the original promissory note in the Additional Terms section. Thus, the bank was essentially an unsecured creditor or lender for the excess or increase in the amount of the line of […]

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Samples of Some of our Presentations on Business, Employment and Intellectual Property (Copyrights, Patents, Trademarks, and Trade Secrets) Law Matters:

1.Suggestions and Considerations for Trademark Owners

2. Considerations in Selecting A Business Entity

3.Attracting and Retaining Talented Employees_Sample

4.Understanding IP Rights_VRP Law_University of Chicago Sample Patents

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