Form of Emerging Business Credit Agreement

By: Committee on Commercial Finance, ABA Business Law Section

We are pleased to share the new form of the Emerging Business Credit Agreement (EBCA), which is the product of a collaborative project of the Commercial Finance Committee of the American Bar Association (ABA) Business Law Section and the Primary Market Committee of the Loan Syndications and Trading Association (LSTA).
The new EBCA includes three supplements that have been prepared with the agreement: the Security Supplement, the Financial Covenants Supplement, and the Agency Supplement. We worked under the expert guidance of our external counsel, Thomas Mellor and Sean Zoltek of Morgan, Lewis & Bockius LLP, who drafted the EBCA form. They have led us in the production of an excellent form with numerous guideposts and in-depth drafting notes, some of which are highlighted below.
The EBCA is intended to be used for a borrower that is an “emerging business.” For the purposes of this form, the term “emerging business�

This is premium content for:

ABA Business Law Section Members.

Please log in or join the Business Law Section to read this full article.

For more information about joining the Section, click here.

Connect with a global network of over 30,000 business law professionals


Login or Registration Required

You need to be logged in to complete that action.