Commitment letter: joint arranging mandate | Practical Law

Commitment letter: joint arranging mandate | Practical Law

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

Commitment letter: joint arranging mandate

Practical Law UK Standard Document 8-422-5167 (Approx. 20 pages)

Commitment letter: joint arranging mandate

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