Michael J. Royle

  1. People /

Michael J. Royle

Michael J. Royle

Partner

  1. People /

Michael J. Royle

Michael J. Royle

Partner

Michael J. Royle

Partner

Kansas City

T: +1 816 391 7676

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Biography

Michael Royle has been representing corporate and banking clients for more than 30 years. In the banking industry, Mr. Royle represents regional, national and international lending institutions in commercial loan transactions. He works with lenders and borrowers on asset based lending ("ABL lending"), loan and security agreements, subordination agreements, intercreditor agreements, participation agreements, agency agreements and a multitude of documents for complex lending transactions.

Mr. Royle represents venture capital firms and investment funds in the negotiation of their loan and acquisition transactions. He also has experience with syndicated loans and upper middle market transactions.

 

Civic Involvement & Honors

  • The Best Lawyers in America, Banking and Finance Law (2014-2024)

Professional Affiliations

  • American Bar Association
  • Kansas City Metropolitan Bar Association
  • Missouri Bar

Admissions

  • Missouri, 1984

Education

Washburn University, J.D., 1983

Southwest Missouri State University, B.S., cum laude, 1980

Related Practice Areas

  • Funds Finance

  • Bank Transactions & Strategy

  • Bank Regulatory Compliance, Operational Support & New Products

  • Finance

  • Banking Sector

Experience

  • Represented Lender in a $33 million asset based lending transaction with a portion of the loan being made to a Canadian subsidiary.  Borrowers manufacture and distribute rubber and plastic garden hoses throughout the United States and Canada.  The collateral securing the loan was both personal and real property located  in several jurisdictions in the United States and Canada.
  • Represented Lender in a $15 million asset based lending transaction in multiple jurisdictions. The Borrowers are in the lumber industry and the collateral for the loan included various forms of personal property,  cut-timber and real property.
  • Represented a private equity fund as the lender in a $140 million dollar transaction involving the acquisition of two power plants. 
  • Represented producer of small kitchen appliances in purchase of a $12 million asset based lending facility.
  • Represented lender in a $9.3 million asset based loan to finance the acquisition of an ecommerce apparel company.

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The Small Business Administration’s (“SBA”) release of an Interim Final Rule on loan forgiveness and an Interim Final Rule on SBA loan review procedures, each under the Paycheck Protection Program (“PPP”), add additional clarity to the PPP loan forgiveness application previously released.  Although the interim final rule promises that it provides “a high degree of certainty to PPP borrowers,” all borrowers should continue to consult their lawyers and accounting professionals as they prepare to apply for loan forgiveness.  Borrowers should remain aware that the official guidance is changing weekly, if not daily.  We continue to note that the applications for PPP loans were revised after being initially provided, and while we have no reason to believe the loan forgiveness application will necessarily be revised at this point, the possibility remains.
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The Small Business Administration’s (“SBA”) release of its official loan forgiveness application under the Paycheck Protection Program (“PPP,” Section 1102 of the CARES Act) answered a number of questions that borrowers and their legal and accounting advisers had regarding the program. But the application also leaves some questions unanswered, and borrowers, their lawyers, and their accountants are eagerly awaiting the release of promised loan forgiveness regulations that are expected to be posted online in coming days or weeks on Treasury's website. Borrowers should consult all existing regulations and guidance as they prepare to apply for PPP loans and as they prepare to apply for loan forgiveness. What follows is a high-level discussion of what we have observed in the latest guidance, but borrowers should be aware that the official federal guidance is changing weekly if not daily, and, depending on the complexity of a borrower’s application, consultation with a lawyer or accountant may be vital to ensuring compliance with the program. We also note that the original applications for PPP loans were revised after being initially provided and, while we have no reason to believe the loan forgiveness application will be revised at this point, the possibility certainly exists.
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The Small Business Administration’s (“SBA”) release of its official loan forgiveness application under the Paycheck Protection Program (“PPP,” Section 1102 of the CARES Act) answered a number of questions that borrowers and their legal and accounting advisers had regarding the program. But the application also leaves some questions unanswered, and borrowers, their lawyers, and their accountants are eagerly awaiting the release of promised loan forgiveness regulations that are expected to be posted online in coming days or weeks on Treasury's website. Borrowers should consult all existing regulations and guidance as they prepare to apply for PPP loans and as they prepare to apply for loan forgiveness. What follows is a high-level discussion of what we have observed in the latest guidance, but borrowers should be aware that the official federal guidance is changing weekly if not daily, and, depending on the complexity of a borrower’s application, consultation with a lawyer or accountant may be vital to ensuring compliance with the program. We also note that the original applications for PPP loans were revised after being initially provided and, while we have no reason to believe the loan forgiveness application will be revised at this point, the possibility certainly exists.
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