Let’s go straight to docs: Difference between revisions

“Going straight to docs” is a legal eagle’s high wire act, with no safety net. To be sure, the first cut of a [[Indenture|trust indenture]] ''may'' have all those key commercial elements built into it, but may not, and if it does they will be dispersed randomly and cryptically throughout its 90-page heft.

Which one must read, [[In toto|''in toto'']]. The modern ''[[rechtsadler]]'' knows but one way to review a trust indenture: she must start at the beginning and work her way through to the end. Should she encounter even a ''whiff'' of [[indemnity]], [[Limitation of recourse|recourse limitation]] or exclusivity on the way — however ill-judged, or insignificant, or uncalled-for it may be — she will be drawn to it as a moth is to a lamp. She will have to ''address'' it. To hell with the main commercial terms: this existential risk must be addressed, and now.

Whereupon, strap yourselves in for six months of torture as this performance grinds on: counsel will get waylaid with every typo, representation and scheduled form of drawdown request notice such that they may never make it to the gritty commercial terms. They may never even ''find'' them. Most likely, they will never even know what they ''are''.