Hanging Buyouts

As noted several days ago, the current market conditions are causing private equity buyout firms that have signed and not yet closed large buyouts to ask their lawyers to read the deal paper and look for exits.  The buyers are finding that the credit markets are very tight and make placing agreed debt financing very expensive.  Some deals have "reverse breakup fees" that enable the buyer to walk simply by paying a chunk of cash.  I suspect that buyers are looking for ways to walk that do not trigger the reverse breakup fee.  Using the old fashioned way, they are looked for failed conditions and breached covenants.