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Richard S. Fries

Part I of this article provided an overview of the commercial loan workout landscape and began a discussion of essential provisions to include in a “state of the art” commercial real estate loan forbearance agreement, including acknowledgement of indebtedness, ratification of loan documents, waiver of defenses and general release, forbearance expiration date and payment modification. Part II of this article will cover economic concessions, additional collateral, recourse and remedies.

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