Anthony J. Krol Partner

Tony Krol has more than 30 years of experience in complex business and finance transactions.  He has served as lead counsel in purchase and sale transactions, construction projects, real estate financings, commercial loan transactions, restructures and workouts.  His clients have included buyers, sellers, borrowers, lenders, real estate developers, manufacturers and real estate brokers.

A significant portion of Tony’s practice involves the acquisition, development, operation and financing of resort projects throughout the United States, in particular, timeshare projects.  His clients in this area have included some of the major lenders in the resort finance sector.

Another significant portion of Tony’s practice involves representing asset-based lenders.  These transactions have included single and multi-lender financings, complex intercreditor arrangements and financing secured by traditional collateral (inventory, accounts and equipment), as well as more complicated collateral pools (intellectual property, investment property and intangibles). Tony is generally involved in all aspects of these transactions, including credit structure, due diligence, loan documentation, intercreditor documentation, negotiation, closing and, if necessary, working out subsequent problems.

His technical expertise coupled with his knowledge of his clients’ credit culture and his one-on-one relationships with underwriters, line officers, in-house legal staff and workout/asset recovery staff have led his clients to rely on Tony in complex finance transactions because, as some of them have commented, “He’s got my back.” 

Tony is also involved in a number of professional and civic organizations, including the American Resort Development Association and the Commercial Finance Association.  He currently a member of the board of the Committee of Seventy, a non-partisan organization fostering clean and effective government, fair elections and an informed citizenry in the City of Philadelphia. He is also an active member of the Government Reform Subcommittee of that organization.

Representative Matters

Timeshare Resort Finance

• Represented lender on acquisition, construction and receivables loan financing for a highrise timeshare resort in Las Vegas
• Represented lender on acquisition, site development, construction, inventory and receivables loan financing for multi-locations right-to-use and deed interest timeshare projects in Pennsylvania 
• Represented lender on renovation and receivables financing for multi-location deeded interest and ground lease interest timeshare projects in Hawaii
• Represented lender in complex workout of multi-location timeshare projects affiliated with major vacation club
• Represented lender in construction, renovation, inventory and multiple receivables financing for multi-location deeded time share projects in Virginia
• Represented lender in multiple receivables financings for contract for deed timeshare project in South Carolina
• Represented lender in complex renovation, inventory, receivables and cash flow financings for timeshare project in New York, including negotiation of multiple intercreditor agreements with pari passu and subordinate lenders

Asset-Based Lending

• Represented lender in inventory and receivables based financing for major ventilation fan company, including subsequent workout and full payoff after default
• Represented lender in inventory financing of men’s clothing company, including subsequent workout and full payoff after default
• Represented lender in inventory and receivables financing of online pharmaceutical distributor
• Represented lender in inventory, receivables, equipment and cash flow financing for major chemical company with operations in U.S. and Canada
• Represented lender group in inventory and receivables financing for large fragrance company
• Represented lender in restructure of chemical company financing and subsequent workout and full payoff

General Commercial Lending

• Represented lender group in large syndicated financing of bakery company involving inventory and receivables financing, real estate and equipment term loan financing, and multiple tranches of subordinate financing
• Represented lender in large line of credit financing for professional sports team
• Represented lender in revolving credit and term loan facilities extended to plastics manufacturer secured by all assets

Other Business Transactions

• Represented real estate developer in acquisition and renovation of regional shopping center, including multiple subsequent refinancings
• Represented major second tier automotive supplier in leverage buyout financing, loan restructuring, senior secured financing, tranche B financing and subsequent workouts

Recognition & Involvement

Tony has been AV® rated by the Martindale Hubbell peer review rating system.