Commitment letter: arranging mandate | Practical Law

Commitment letter: arranging mandate | Practical Law

A commitment letter (also called a mandate letter) to be sent by a bank to be appointed as an arranger on a "best efforts" basis to a borrower in relation to a proposed syndicated facility. It sets out the terms on which the arranger will arrange the loans or other facilities to be made to a borrower. The borrower grants the mandate by signing and returning a copy of the letter.

Commitment letter: arranging mandate

Practical Law UK Standard Document 1-203-5653 (Approx. 20 pages)

Commitment letter: arranging mandate

Maintained, England, Wales
A commitment letter (also called a mandate letter) to be sent by a bank to be appointed as an arranger on a "best efforts" basis to a borrower in relation to a proposed syndicated facility. It sets out the terms on which the arranger will arrange the loans or other facilities to be made to a borrower. The borrower grants the mandate by signing and returning a copy of the letter.