COVID-19 Resource Center

Stay ahead of the COVID-19 pandemic

We know COVID-19 has presented many challenges for all professional service firms and corporations today and we are here to help in any way we can. Our customers and community have informed us of the high volume of work needed to be done to best advise their clients and internal stakeholders during these unprecedented times. We, at Kira Systems, are dedicated to leveraging our expertise to help you prepare by providing all our resources to support you.

Read our Response to COVID-19

Featured:

Study: Blocking the Next "Trap Door" - Strengthening Collateral Protection By Limiting Baskets In Credit Agreements

Within the credit agreements, corporate borrowers are required to pledge collateral in order to secure their, or their guarantors’, obligations under the credit documents, and comply with various covenants on actions that the borrower may not take. However, to provide borrowers with limited flexibility to continue operating in the ordinary course of business, many negative covenants include a basket, or deductible - a maximum dollar amount relating to a specific exception to a negative covenant. This is known as the “trap door”.

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Resources

Study

Study: Intellectual Property Intel - Understanding the Impact of Bankruptcy on a Business’s Most Valuable Assets

While COVID-19 has wreaked havoc on the global economic marketplace, not all concerns are immediately tangible. There is a piece of the puzzle that lies in intangible assets amidst the assets at play. A business’s intellectual property is one of its most important and most valuable assets.

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Webinar

Webinar: Rapid Response Loan Review in a Changing Regulatory Environment

Loan defaults are predicted to reach 10% globally, as the impacts of Coronavirus spread through the economy. Planning how to handle these, including accessing government liquidity support, requires extensive data.

Webinar

Webinar: Bring Visibility to your Contracts in a New Era of Remote Work

While you’ve no doubt heard a ton about COVID-19’s financial impact on businesses worldwide, there is yet another major shift that organizations are having to take into account: As companies pivot away from physical offices (with some planning never to return), it’s become more important than ever them to digitize their processes and data.

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Webinar

Webinar: COVID-19’s Economic Impact: What Experts Say About Braving the Storm

The economic impact of COVID-19 has been far-reaching, with Chapter 11 bankruptcy filings surging 26% in the last month compared to 2019.

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Study

An Analysis of Liquidated Damages Provisions and Business Restructuring Considerations

Chapter 11 filings have surged exponentially and the list of companies filing for bankruptcy only continues to grow. Learn how distressed companies and non-debtors may benefit from the certainty and efficiency these clauses provide, saving all parties time, money, and effort during critical times.

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Guide

Guide: 3 Key Lease Provisions to Consider During the Coronavirus Pandemic

Landlords and tenants have been significantly impacted by government-mandated closures of non-essential businesses in response to the COVID-19 pandemic. While force majeure provisions have been a hot topic since the onset of the pandemic, within the real estate context, we wanted to examine the relative differences between landlords and tenants with regards to the availability of force majeure relief.

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Webinar

Webinar: Termination for Convenience in Travel, Hospitality, and Entertainment Commercial Contracts

Following up on the Industry Analysis Study, our Legal Knowledge Engineering Associate will walk you through how to identify termination for convenience provisions that may support your organization’s ability to get out of contracts you no longer consider beneficial.

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Study

Industry Analysis: Termination for Convenience in Travel, Hospitality, and Entertainment Commercial Contracts

With the economic impact of COVID-19 halting consumer spending on travel, hospitality, and entertainment, your (or your clients’) organization is likely in the midst of rightsizing its business in order to mitigate potential risks. While trying to navigate through these unprecedented times, understanding contractual obligations has become more critical than ever.

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The Impacts of COVID-19 on Businesses and How AI-Powered Software Can Help

The Coronavirus (COVID-19) pandemic has many implications for businesses worldwide, but not every organization has the kind of visibility into their contracts that would allow them to take appropriate action. View our guide outlining the potential impacts on your organization, and how AI-powered software (like Kira) helps accelerate the contract review process so that you can identify and mitigate risks more easily.

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study

Force Majeure Provisions in Commercial Contracts

We used Kira to look at commercial contracts involving Chinese entities & found that 72% of 130 contracts reviewed included force majeure provisions. Learn the other insights we uncovered from using Kira’s AI-powered technology, such as the prevalence of “catch-all” language and inclusion of acts of government in force majeure provisions.

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webinar

The Impacts of COVID-19 on Contracts: What We Learned About Force Majeure in Chinese Contracts

Jennifer Tsai, our Legal Knowledge Engineering Associate, will walk you through the impacts that Coronavirus (COVID-19) can have on your commercial contracts, and what steps your organization, or clients’ organizations can take to minimize any potential impact of force majeure and other clauses in them.

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deal point study

The Effects of Force Majeure in Contracts

Following up on our previous study, “Force Majeure Provisions in Chinese Contracts”, we reviewed the same Chinese commercial contracts to determine and learn of the types of consequences that would follow if a force majeure event was determined to have occurred.

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blog

Is Coronavirus Infecting Your Supply Chain?

In addition to its human toll, the current Coronavirus outbreak has wreaked havoc on global supply chains and commodities markets. With the virus' rapid spread, the extension of the Lunar New Year holiday by the Chinese government, and transportation disruptions leaving hundreds of millions of workers unable to return to work (among other things), many Chinese businesses are struggling to fulfill their contractual obligations.

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