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Commitment Letters, Proposal Letters and Term Sheets

Learn the differences between commitment letters and proposal letters and how to use each to your advantage.

A proposal letter can be a great marketing tool for a lender. It can also be a trap for the unwary if the letter is construed as a commitment to lend when the lender does not yet have credit approval. Learn the differences between commitment letters and proposal letters and how to use each to your advantage, and avoid using them to your disadvantage. This topic will benefit both borrowers and lenders alike.


Runtime: 92 minutes
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Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Types of Letters, and Which to Use Depending on the Circumstances

  • Purpose and Objective for Each Type of Letter, From Both the Borrower's and Lender's Perspective
  • Additional Considerations for Each Type of Letter, From Both the Lender's and the Borrower's Perspective

Additional Lender Considerations

  • The Lender Has Considerations for Which the Borrower Has No Counterpart
  • Can Commitments Be Oral? Can a Borrower Sue a Lender on the Basis of an Alleged Oral Commitment?
  • Boilerplate: One Party's Boilerplate Is Sometimes Another Party's Deal Breaker
  • What Should Be Included to Protect Your Interest, and What May Be Nice to Have but Is Not Necessarily Essential

Recent Cases of Interest

  • Recent Cases of Interest Discussing Enforceability of Commitment Letters and the Consequences of Breach by Both the Lender and the Borrower
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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OnDemand Webinar

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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In Partnership With

More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Anthony Callobre

Anthony Callobre

Buchalter Nemer

  • Shareholder in the Bank and Finance Practice in the Los Angeles office of Buchalter Nemer
  • Focuses on commercial lending and corporate finance and debt financing transactions, ranging from upper-market to investment grade-credits
  • Represents commercial banks, commercial finance companies, hedge funds, private equity groups, business development companies, and other investors and lenders
  • Frequent lecturer and author on current trends in secured financing including commitment letters, proposal letters and term sheets
  • Fellow and former member of Board of Regents, American College of Commercial Finance Lawyers
  • Past-chair, Subcommittee on Syndications and Lender Relations, Commercial Financial Services Committee, Section on Business Law, American Bar Associations
  • J.D. degree, Boston University of Law; Master of Laws, Boston University of Law; B.A. degree, Brown University
Shadi J. Enos

Shadi J. Enos

Buchalter Nemer

  • Associate in the Bank and Finance Practice Group in the Los Angeles office of Buchalter Nemer
  • Represents a broad spectrum of commercial banks and financial institutions in asset-based lending, cash flow lending and syndicated finance
  • Vice editor of the Recent Developments Subcommittee for the ABA’s Uniform Commercial Code Committee
  • “#Ouch: The $1.5 Billion Mistake You Don’t Want to Make!,” ABL Advisor, April 1, 2015
  • Co-wrote, “ABA Law of Guaranties: A Jurisdiction-by-Jurisdiction Guide to U.S. and Canadian Law,” February 2013
  • Co-wrote, “The Pre-Workout Agreement: Still the Best Practice,” California Business Law Practitioner, Volume 27/Number 3, 2012
  • Lecturer, The UCC Engine: Search Strategies, Filing, and Perfection Rules, Hidden Liens and Priority Issues, Commercial Finance Conference of California, 2012
  • J.D. degree, magna cum laude and Order of the Coif, Loyola Law School; B.Sc. degree in mathematics/economics, summa cum laude, University of California, Los Angeles
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Product ID: 396231
Published 2016
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