Equipment Finance

• Preparation of and revisions to client documentation spanning a variety of transaction types, including equipment finance agreements, leases for security, terminal rental adjustment clause (TRAC), fair market value (FMV), service contract and other true lease structures, capital leases, operating leases, PUT option leases, mixed goods and services transactions, vendor lease programs, and traditional loan transactions.
• Preparation of and revisions to client policies and procedures.
• Structuring, documenting, negotiating and closing complex transactions.
• Auditing lease and loan portfolios, and advising on lien perfection concerning all types of assets including heavy or specialized equipment, motor vehicles, aircraft, railroad rolling stock, and maritime vessels.
• Litigation services, including enforcement and dispute resolution, replevins, injunctions and other provisional remedies, and all aspects of defenses, counterclaims, and cross claims including commercial reasonableness of disposition under Article 9 of the Uniform Commercial Code (UCC), lien priority contests, and multistate enforcement of judgments.
• Bankruptcy and creditors’ rights representation, including workouts and forbearance transactions, restructurings, bankruptcy and state insolvency proceedings of all sizes and levels of complexity, lease re-characterization, relief from stay and cash collateral proceedings, and preference avoidance and fraudulent conveyance actions.

Phillips Lytle is an active member of the Equipment Leasing and Finance Association (ELFA) and other trade organizations.