Loan Commitment Letter
(FL)

Summary

This loan commitment letter template identifies the terms and conditions of a contemplated loan secured by real property in the state of Florida. The letter details a lender's commitment to fund the loan to a borrower upon the borrower's satisfaction of certain requirements and conditions by a certain date. This template includes practical guidance, drafting notes, alternate clauses, and optional clauses. This template incorporates Florida law. The letter includes the principal amount of the loan, the rate of interest, and the repayment terms. The letter also identifies material terms and conditions of other borrower deliverables which will be included in the loan and security documentation package to be prepared, executed, and delivered in conjunction with the contemplated loan transaction. This loan commitment letter contemplates a scenario in which both the borrower and the guarantor are corporate entities, and as such references to governing and related entity documentation necessarily refer to the documentation one would expect when dealing with a corporate entity. Borrowers and guarantors can adopt any number of entity types, and/or can even be an individual or a nonentity. References to corporate entities and related entity documentation may need to be modified to reflect the nature of the parties and the entities actually involved in the loan transaction. For additional guidance on loan commitments, see Acquisition Loan Term Sheets and Loan Commitments.