Closing a Loan Transaction Toolkit
Resources to assist a corporate borrower in closing a loan transaction, including information on the conditions that must be satisfied and how to organize the closing.
Before lenders disburse a loan to a borrower, there are typically many conditions precedent ( www.practicallaw.com/7-382-3355) in the loan agreement that must first be satisfied (or waived by the lenders or an agent acting on behalf of the lenders). The extent and nature of these conditions, and the complexity of the closing process depend on several factors, including:
The size and nature of the transaction.
The nature and creditworthiness of the loan parties ( www.practicallaw.com/6-382-3596) .
The existence, scope and location of any collateral ( www.practicallaw.com/3-382-3343) .
Ensuring that these conditions are satisfied by the closing date can be difficult. This Toolkit contains continuously maintained resources to help counsel manage the closing process, including:
Information on the conditions that must be satisfied in a typical loan transaction, including legal opinions, resolutions ( www.practicallaw.com/7-382-3765) and secretary's certificates ( www.practicallaw.com/1-382-3792) .
Practical guidance on organizing the closing, including ensuring documents are properly executed and delivered.
For additional documents and information, see Finance, Lending: General.