Cadwalader, Wickersham & Taft LLP

This Practice Note explains what a clearing house is, the different models of clearing houses, how clearing houses are regulated under EU EMIR and UK EMIR and what EACH is, as well as a brief explanation on the impact of Brexit on derivatives clearing houses in the EU and the UK.

This Practice Note describes the documentation required to document a derivatives clearing relationship structured under the principal model

This Practice Note discusses the ISDA and FIA Cleared Derivatives Execution Agreement and Addendum setting out how they are structured and what the key terms are.

This Practice Note discusses Term Loan B (or TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors. It explores the structure of a typical TLB facility, how it differs from traditional leveraged loans in Europe, its key features and recent trends.