Rimon
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Rimon’s interdisciplinary team has significant experience across the equipment leasing and finance industry. We primarily represent national and state banks and bank subsidiaries, independent and captive leasing and finance companies, financial services corporations, and investment funds, including some of the 50 largest equipment leasing and finance companies in the United States, as rated by The Monitor 100.

Our team members are actively involved in the Equipment Leasing and Finance Association (ELFA) and include a past member of ELFA’s Legal Committee, a vice-chair of ELFA’s Energy Subcommittee, and frequent lecturers at ELFA forums.  We contribute frequently to various publications supporting the industry, and our lawyers include the author of a regularly scheduled column in The Monitor since 2002; a member of the Board of Directors of LJN’s Equipment Leasing Newsletter; and publishers in a variety of other journals including the ABF Journal and The Journal of Equipment Lease Financing.  We also contribute to other associations, including the Maritime Law Association, and our lawyers are honored in the Best Lawyers of America®, Chambers, Super Lawyers® and with AV (Preeminent) ® distinctions in Martindale Hubbell.

We are experienced in a wide range of transaction and equipment types. Transaction types include:

  • TRACs, Split-TRACs, Fair Market Value (FMV); Service Contracts; sale-leasebacks, and other true lease structures
  • Synthetic leases
  • Leases intended as security, equipment finance agreements and traditional loan transactions
  • Progress payment, interim funding and construction financings
  • Sublease and inventory structures
  • Mixed goods and services transactions
  • Vendor programs
  • Assignments and syndications, including sales of interest, participations, portfolio acquisitions, discounting transactions, back-leveraging, warehouse and funding lines

We routinely handle virtually all equipment types, including transportation equipment (aircraft, vessels, vehicles and railcars); construction equipment; FF&E; electricity generation facilities (including solar, wind, landfill-gas-to-energy, anaerobic digester and combined heat and power); computer, telecommunications and other high-tech equipment; medical equipment; drilling rigs and gas compression equipment; and manufacturing equipment and facilities.

Representative Transactions

  • Creation of form documentation used by several of the largest equipment leasing and finance companies in the United States (as rated by The Monitor 100) for transactions of all sizes and types, including for true leases, non-true leases, equipment financings, and syndications.
  • Preparation of fifty-state surveys on a variety of relevant topics, including licensing, usury, motor vehicle titling, and landlord lien issues.
  • Preparation of comprehensive internal policies and analyses covering lien perfection, lessor liability, insurance and corporate verification.
  • Assisting multiple bank and bank subsidiaries in connection with their establishment of policies and procedures when purchasing transactions involving electronic signatures and, in some instances, electronic chattel paper.
  • Auditing client portfolios and procedures.
  • Providing in-house seminars for operations and other personnel.

Aircraft

  • Representation of a U.S. aircraft lessor in multiple transactions in which the lessor leased multiple Boeing 737 aircraft to airlines located in Latin America (including Mexican, Brazilian, Bolivian, and Ecuadorian airlines), Europe (including Belgian, Irish, Swedish, Danish and Romanian airlines), the Middle East and Africa (including Emirati and Tunisian airlines), the former USSR (including a Georgian airline), Asia and Pacific (including Indonesian, Mongolian, and Indian airlines) and North America (including a Canadian airline)
  • Representation of Wings Capital Partners on the acquisition and finance of nine commercial jet aircraft subject to operating leases and registered in several different jurisdictions and on their initial $200 million secured loan facility with Wells Fargo Bank, NA to fund the acquisition of a portfolio of mid-life narrow body aircraft.
  • Representation of Banco Nacional de Desenvolvimento Econômico e Social in providing separate export credit facilities for the purchase of Embraer aircraft by Flight Options LLC and Taca International Airlines, S.A.
  • Representation of The Huntington National Bank, as administrative agent, in connection with a $1 billion revolving loan facility secured by helicopters and related leases in multiple jurisdictions and certain other assets for The Milestone Aviation Group Limited, financed by a syndicate of 16 lenders.
  • Representation of Deutsche Bank AG, London Branch, as agent, in connection with a series of debt facilities for The Milestone Aviation Group Limited totaling $400 million, including a multiple drawing term loan facility secured by helicopters and related leases and certain other assets, including a 7 lender syndicated term facility, generally regarded as the first syndicated portfolio financing for a helicopter leasing company.
  • Representation of American Airlines in numerous aircraft leveraged lease financings.

Vessels

  • Representation of syndicates of lenders in connection with the refinancing of the entire fleet of a large barge and towboat operator operating on the Mississippi Rivers and adjacent canals and waterways.
  • Representation of multiple financial institution lessors in connection with numerous charter agreements involving fleets and individual vessels.
  • Representation of lenders both on large capital and middle market loans secured by offshore vessels and inland barges and pushboats, including vessels under construction.
  • Serving as US domestic counsel in connection with loans secured by foreign flagged vessels.

Vehicles

  • Representation of a bank subsidiary in connection with a  $20 million financing of vehicles subject to a complex operating and fleet management structure used by the borrower and unaffiliated third parties, raising unique collateral issues.
  • Representation of a bank in connection with the $50 million financing of tractor trailers as part of the acquisition of the borrower by an operating and investment company, and representation of the bank in connection with the subsequent syndication of portions of such transaction to multiple investors.
  • Representation of a bank subsidiary in connection with multiple acquisitions of beneficial ownership interests in titling trusts involved with TRAC and Split TRAC leases, including transactions acquired by the assignor through vendor programs.
  • Representation of multiple banks and bank subsidiaries in connection with leases or financings provided to various transportation companies, many of which sublease or lease the vehicles to unaffiliated third parties, including owner operators.

Railcars

  • Representation of an independent finance company in connection with its sale of a portfolio of railcars and the associated leases in transactions worth approximately $200 million.
  • Representation of a bank subsidiary in connection with a swap of railcar leases amongst multiple financial institutions with the same lessee.
  • Representation of the equipment finance divisions of multiple banks in transactions in which the divisions sold their beneficial interests, as owner participants, in leveraged lease transactions involving railcars and aircraft.
  • Representation of a bank subsidiary in connection with financings secured by railcars.
  • Representation of the equipment finance subsidiaries of multiple banks in connection with the sale-leaseback transactions of solar generation facilities in Alabama, Georgia, Mississippi and Tennessee.
  • Representation of the lender in connection with a construction-to-term loan facility for a $62.5 million landfill-gas-to-energy facility in California, and the subsequent sale by such lender of a participation interest in the financing.
  • Serving as U.S. counsel in connection with multiple financing transactions in Latin America, including a $30 million construction to term loan financing involving two cold reserve power plants capable of producing approximately sixty megawatts of electricity, and an $11 million financing of a power plant.
  • Representation of the lender in connection with non-recourse construction-to-term loan project financing for a $15 million natural-gas-fired power plant in Ontario, Canada designed to power a greenhouse for a cannabis facility.
  • Representation of a client on leveraged lease financing of a US subsidiary of a German semiconductor company and the subsequent buy-out of secured lending syndicate interest in financed equipment.
  • Representation of multiple banks and bank subsidiaries in connection with the acquisition of equipment leases and financings with a value of over $1 billion, including review and diligence of underlying leases or loans being assigned and negotiation of assignment documents.
  • Representation of equipment leasing and finance company in connection with its acquisition of a lease of equipment involving ongoing maintenance, warranty and other obligations of the original lessor/assignor that raised “bundling”, true sale and other issues.
  • Representation of a bank subsidiary in connection with a synthetic lease of earthmoving, construction and material handling equipment totaling in excess of $20 million.
  • Representation of a bank subsidiary in connection with its acquisition of a portfolio of over $100 million of equipment leases, installment sales contracts and other equipment financings.
  • Representation of a bank in connection with its establishment of vendor programs.
  • Representation of a captive finance company in connection with a $50 million financing of frac pumps and trailers.
  • Representation of a bank subsidiary in connection with $25 million lease of containers, and the subsequent syndication of a portion of the transaction.
  • Representation of multiple banks and bank subsidiaries in connection with the financing of manufacturing plants, including various progress payment and construction related issues.

More About the Firm

Spherical Organizational Structure: Rimon has received international recognition for its spherical organizational structure. It allows for an agile and dynamic team that works closely together to efficiently respond to client needs.  Our experienced partners form the surface of the sphere, working directly with clients without bureaucratic interference. They are fully supported by a close team of associates, the Rimon Network, administrative staff, and management.

No Hierarchy Amount Partners: Unlike in a pyramid model, our attorneys do not have to follow the dictates of superiors who are unfamiliar with their clients. They do not have to feed the top of a pyramid or follow bureaucratic rules. Instead, Rimon attorneys turn their attention to serving clients by working as a team of equals, supported by staff, Rimon Network, and associates. Rimon’s management fosters teamwork and excellence instead of getting in the way of client representation.

Compensation aligned with Clients’ Interests: Our attorneys are not compensated based on their ranking in a hierarchy or relationship with management. Our compensation structure is based purely on work done for our clients. Attorneys are rewarded for bringing in new work and for assisting their peers. This ensures that our attorneys focus on client needs and relationships, rather than firm politics.

Agility: We recognize that every client has different needs. One size does not fit all. For this reason, our attorneys have the freedom to determine alternative billing structures and tailored representation for our clients.

Consistent Excellence: Since we do not rely on the leveraged model of a pyramid structure, most of our attorneys are partners with years of high-level experience. Our attorneys do not cut their teeth on our clients’ important work. At the same time, our support team ensures clients don’t pay partner rates for data entry or basic research. Furthermore, with management working on the day-to-day business issues of the firm, our attorneys can focus on our clients.

Teamwork: The pyramid structure often rewards hoarding work, or working with the most connected partners for political reasons, even if they are not the right ones for the job. The Rimon model encourages attorneys to work together as a single, efficient team, in a way that serves the client best. Hierarchy, bureaucracy, and politics do not get in the way.

Stability: Since our partners work as a team but do not depend on each other for their compensation, Rimon’s structure allows for greater stability. Attorneys do not suffer as a result of weak performance in a specific office or sector, nor do they rely on a few rainmakers to keep the firm afloat.

Dynamism: The flexibility of the spherical structure and Rimon’s culture promotes constant dynamism. Freed from the stiff pyramid structure, new ideas can be implemented by those most likely to be successful.


Rimon Attorneys With Expertise in Equipment Leasing and Finance Include: