On Thursday April 16, Sheppard Mullin submitted comments to the
Federal Reserve about its terms sheets for the $600 Billion Main
Street Loan Program. These comments raise and explore numerous
important questions that the Fed and Treasury will necessarily need
to grapple with to make the Main Street programs successful. We
believe that these comments together
with our comparative chart of
the two Main Street loans being offered will help readers gain an
initial understanding of how the Main Street Loan Program may work
with companies' existing debt and operations. We will provide
updates when new information is released about the Main Street
program.
As you are aware, things are changing quickly and there is no
clear-cut authority or bright line rules. This is not an
unequivocal statement of the law, but instead represents our best
interpretation of where things currently stand. This article does
not address the potential impacts of the numerous other local,
state
