The increasing popularity of subscription credit facilities with fund managers has prompted questions about how to structure the facilities to both account for varied investor bases and accommodate other fund types – such as hedge funds – so that they can take advantage of them. These were some of the items addressed in a recent webinar, which was moderated by Rorie A. Norton, Editor of the Hedge Fund Law Report, and featured Thomas Draper, partner at Foley Hoag, and Michael C. Mascia, partner at Cadwalader. This second article in a two-part series details key considerations when banks calculate the size of a subscription credit facility based on a fund’s investor base and ways to account for certain structural components, as well as provisions to be addressed when preparing fund limited partnership agreements and side letters that facilitate a smooth adoption of the facility. The first article described ways the market has adjusted its use of these facilities to account for certain concerns raised by investors; the economic and logistical benefits they offer; and steps that certain hedge funds and credit funds are taking to adopt them. See “Types, Terms and Negotiation Points of Short- and Long-Term Financing Available to Hedge Fund Managers” (Mar. 16, 2017); and “Financing Facilities Offer Hedge Funds and Managers Greater Flexibility (Part Two of Three)” (Jun. 9, 2016).