Larry Hermalyn joins Lowis & Gellen from Bank of America, N.A., where he was an Assistant General Counsel representing the Commercial Bank, Business Banking and the Private Bank in commercial transactions in Chicago and the Upper Midwest Region. His responsibilities included negotiating and drafting loan and security agreements, intercreditor agreements and related documentation for $20 million to $250 million complex credit facilities for the Bank’s General Industries, Government and Health Care Groups. He also prepared syndicated credit agreements and advised senior management on loan structuring, workouts and bank regulatory issues, such as Anti-Tying and Rules 23A and 23B, Reg U, Reg W, Anti-Money Laundering, the Bank of America Privacy Policy, Associate Information Sharing (Public and Private Side), loan securitization and Sarbanes Oxley compliance.
Among other documents and legal forms used routinely by Bank of America, Mr. Hermalyn drafted an “Uncommitted Line Agreement” for use in the Chicago market and loan documents for the Bank of America national Franchise Banking Initiative in Business Banking, which makes loans to top tier national franchisees.
Mr. Hermalyn also served as counsel to the Bank’s Mid-Cap Specialized Industries Group, which makes loans to borrowers in the restaurant, gaming, beverage and sports industries, and provided training to Bank of America Associates on several areas of specific regulatory compliance and Bank of America standard loan documents.
Previously, Mr. Hermalyn was an Assistant General Counsel for Fleet/Boston and legal counsel to the Global Vendor Finance Group, a $3 billion plus vendor finance company, and represented the Franchise Finance Group in the documentation of loans to tier one franchisees and in the syndication and securitization of such loans.
Mr. Hermalyn has also been a Vice President/Legal with Sanwa Business Credit Corporation, representing the Real Estate, Franchise Finance and Private Equity Groups; a partner with the Chicago law firm of Greenberger Krauss & Jacobs, focusing on the representation of financial institutions and real estate developers in real estate and commercial finance transactions; and a Senior Attorney with the Federal Deposit Insurance Corporation responsible for the disposition of large and complex assets.
Mr. Hermalyn is admitted to practice in Illinois and Pennsylvania and is a member of the Chicago Bar Association. He received his law degree from the Indiana University School of Law, Bloomington, where he was a member of the Indiana Law Journal and a recipient of the Rufus Magee Fellowship.
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