A contractual provision in certain bank loan commitment letters that makes it a condition precedent to making loans that the borrower and its subsidiaries not incur any other debt or issue any securities for a specified period of time that would compete with the syndication of the loans. This condition only applies to syndicated loans and is a protection for the initial lenders to ensure they can syndicate the loans to other lenders or investors. For more information on commitment letters, see Practice Note, Commitment Letters Overview: Lending.