Practice Areas & Industries: Fulbright & Jaworski L.L.P.

Financing documentation. Fulbright supports bank financing operations with counsel and documentation for everything from credit facilities to collateral agreements to debt securitizations and numerous other financing tools.

Daily banking operations. Our regulatory and banking/finance attorneys can assist with matters related to a variety of operational areas:

Fiduciary liabilities. We also assist financial institutions and their personnel with:

• Fiduciary liability related to administration of personal trusts and estates, testamentary and inter vivo trusts and pension plans
• Directors and officers liability (defenses in class actions and FDIC litigation)

Attorneys in the Fulbright & Jaworski Structured and Project Finance Practice Group work with lenders and institutional investors in executing secured financings and negotiating, documenting and closing lending arrangements.

Structured finance transactions. We work with companies that require the flexibility of structured financings in their operations. These include nonrecourse or limited recourse "off-balance sheet" financings, in which the cash flow and assets of a project's sponsors are the primary basis and security for the financing.

Fulbright attorneys assist with securitizations involving all types of collateral that companies can use for a variety of reasons. For example:

• Improving liquidity
• Balance sheet management
• Optimizing the value of various types of assets (commodities, receivables, etc.)
• Managing risk

Support in hedging all types of risks. We have helped establish these types of risk management tools for companies in a wide range of industries, from energy to utilities to manufacturing, to name just a few.

The experience that our attorneys can provide in analyzing risks and helping to develop structures to hedge those risks is a critical asset to our clients.

Far-reaching experience. Fulbright & Jaworski has been involved in more than 100 power plant financings around the world, representing more than $40 billion in funding. These projects reach from China to Ghana, Croatia, South America and the United States.

This is just one of many industries where our attorneys have played important roles in financing major projects. Our work has included a wide range of agreements such as:

• Collateral security agreements (mortgages, ship mortgages, lease financings, trust and retention account agreements, general security agreements, pledges and fixed/floating charges)
• Credit and investment agreements (construction lending and other loan agreements, indentures, IFC investment agreements, lender facility agreements, equity support agreements, completion agreements and common terms agreements)
• Sovereign agreements for international infrastructure projects
• Agreements relating to project siting
• Project development agreements

International financing organizations. We have represented government entities, commercial interests and international financing organizations in the financing and restructuring of major infrastructure projects around the world. Some of the financing organizations with which we work are:

Billions of dollars in transactions. Each year since 1985, the Fulbright & Jaworski Equipment Finance Practice Group has closed transactions worth a billion dollars or more. The firm represents a wide variety of clients in U.S. and cross-border leasing and financing transactions for:

• Aircraft (commercial and corporate)
• Manufacturing equipment
• Mass transit
• Rail
• Vessels

Our clients include U.S. and foreign airlines, commercial banks, investment banks, credit companies, government entities in the public finance market, "vulture" funds, institutional investors, aircraft manufacturers and lessors/owners of aircraft, as well as ocean-going vessels.

Transaction types. Our work spans all types of transactions:

• Domestic leveraged leases
• Double-dip" lease structures in international jurisdictions
• Enhanced equipment trust certificate (EETC) offerings
• Foreign Sales Corporation (FSC) leasing
• Japanese Leveraged Leases
• Operating leases
• Pass-through trust certificate debt structures
• "Pickle accelerator" structures
• Public/private offerings of equipment-secured debt
• Secondary market sales of airline paper
• Secured loans/revolving credit facilities
• Securitizations
• Synthetic leases
• Vendor-supported "lease in, lease out" structures
• Vessel financing (including tax-advantaged under MARAD)

Bankruptcies and debt workouts. Fulbright also has extensive experience in bankruptcy remote structures and in executing workout transactions, some of which have realized 100% recovery of the original investments.

This highly rated practice area consistently gains recognition for Fulbright & Jaworski as one of the leading firms in the U.S. for bankruptcy matters.

One of the nation's 10 most active. In recent years, Fulbright has consistently ranked among the nation's 10 most active bond firms.

2002 municipal securities totals:

• 345 transactions
• $8.86 billion cumulative principal amount

Bond issuer representation. We have represented issuers of tax-exempt obligations as:

Other market participants. Fulbright often represents numerous other participants in the public finance market, including:

Multiple viewpoints. Having represented so many players in the public finance market helps us accomplish our clients' goals by negotiating solutions acceptable to all the market participants in any given market conditions.