Commitment letter

A letter (also called a mandate letter) in which a lender sets out the terms on which it is prepared to lend money to the borrower. It is generally accompanied by a term sheet (www.practicallaw.com/6-107-7383) setting out the terms of the loan. If the letter is then signed by the borrower and returned to the lender it forms the mandate (www.practicallaw.com/6-373-0960).

{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247245042220", "objName" : "Commitment letter", "userID" : "2", "objUrl" : "http://us.practicallaw.com/cs/Satellite/us/resource/8-373-0959?null", "pageType" : "Resource", "academicUserID" : "", "contentAccessed" : "true", "analyticsPermCookie" : "2-32bd5319:14966e7f179:-4e2f", "analyticsSessionCookie" : "2-32bd5319:14966e7f179:-4e2e", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }