{"component": "clause", "props": {"groups": [{"size": 20, "snippet_links": [{"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [15, 53]}, {"key": "the-representations-and-warranties-of-the-company", "type": "clause", "offset": [75, 124]}, {"key": "the-lender", "type": "clause", "offset": [143, 153]}, {"key": "agrees-to", "type": "clause", "offset": [161, 170]}, {"key": "the-closing-date", "type": "clause", "offset": [194, 210]}, {"key": "in-the-aggregate", "type": "definition", "offset": [245, 261]}, {"key": "commitment-to", "type": "clause", "offset": [388, 401]}, {"key": "loan-to-the-company", "type": "clause", "offset": [411, 430]}, {"key": "pursuant-to", "type": "clause", "offset": [431, 442]}, {"key": "section-21", "type": "clause", "offset": [448, 459]}], "samples": [{"hash": "7iURyBNB19S", "uri": "/contracts/7iURyBNB19S#loan-commitment", "label": "Senior Secured Loan Agreement (R&b Falcon Corp)", "score": 18.0, "published": true}, {"hash": "6xxOs5ZXLUI", "uri": "/contracts/6xxOs5ZXLUI#loan-commitment", "label": "Senior Secured Loan Agreement (RBF Finance Co)", "score": 18.0, "published": true}], "snippet": "Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Company herein set forth, the Lender hereby agrees to lend to the Company on the Closing Date and thereafter up to $225,600,000 in the aggregate (the \"Loan\") consisting of $112,800,000 of 7-year Tranche advances and $112,800,000 of 10-year Tranche advances. The Lender's commitment to make the Loan to the Company pursuant to this Section 2.1 is herein called the \"Loan Commitment.\"", "hash": "fbeede6bb31f23312b7f0e4ec3354c98", "id": 1}, {"size": 17, "snippet_links": [{"key": "the-terms-and-conditions", "type": "definition", "offset": [11, 35]}, {"key": "each-lender", "type": "clause", "offset": [48, 59]}, {"key": "agrees-to", "type": "clause", "offset": [70, 79]}, {"key": "the-borrowers", "type": "definition", "offset": [131, 144]}, {"key": "equal-to", "type": "definition", "offset": [158, 166]}, {"key": "initial-term-loan-commitment", "type": "definition", "offset": [181, 209]}, {"key": "at-any-time", "type": "clause", "offset": [258, 269]}, {"key": "prior-to-the", "type": "clause", "offset": [270, 282]}, {"key": "delayed-draw-term-loan-commitment-termination-date", "type": "definition", "offset": [283, 333]}, {"key": "loans-to", "type": "clause", "offset": [353, 361]}, {"key": "aggregate-amount", "type": "definition", "offset": [382, 398]}, {"key": "and-company", "type": "clause", "offset": [457, 468]}, {"key": "the-initial-term-loan", "type": "clause", "offset": [506, 527]}, {"key": "subject-to-section", "type": "clause", "offset": [679, 697]}, {"key": "amounts-owed", "type": "definition", "offset": [707, 719]}, {"key": "with-respect-to", "type": "clause", "offset": [730, 745]}, {"key": "loan-shall", "type": "definition", "offset": [755, 765]}, {"key": "paid-in-full", "type": "definition", "offset": [769, 781]}, {"key": "term-loan-maturity-date", "type": "clause", "offset": [800, 823]}, {"key": "action-on-the-closing-date", "type": "clause", "offset": [916, 942]}, {"key": "after-giving", "type": "clause", "offset": [943, 955]}, {"key": "the-funding", "type": "clause", "offset": [966, 977]}, {"key": "action-upon", "type": "clause", "offset": [1147, 1158]}, {"key": "pro-rata-share", "type": "definition", "offset": [1238, 1252]}, {"key": "in-accordance-with", "type": "definition", "offset": [1265, 1283]}, {"key": "the-definition", "type": "definition", "offset": [1302, 1316]}], "samples": [{"hash": "7ILqeHPzUXN", "uri": "/contracts/7ILqeHPzUXN#loan-commitment", "label": "Financing Agreement (Biohaven Pharmaceutical Holding Co Ltd.)", "score": 30.1622180939, "published": true}, {"hash": "5xJdM7CyuSY", "uri": "/contracts/5xJdM7CyuSY#loan-commitment", "label": "Financing Agreement (Biohaven Pharmaceutical Holding Co Ltd.)", "score": 29.8555774689, "published": true}], "snippet": "Subject to the terms and conditions hereof:\n(i) each Lender severally agrees to make, on the Closing Date, an Initial Term Loan to the Borrowers in an amount equal to such Lender\u2019s Initial Term Loan Commitment; and\n(ii) each Lender severally agrees to make, at any time prior to the Delayed Draw Term Loan Commitment Termination Date, Delayed Draw Term Loans to the Borrowers in an aggregate amount equal to such Lender\u2019s Delayed Draw Term Loan Commitment; and Company may request only one borrowing under the Initial Term Loan Commitment which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Section 2.9, all amounts owed hereunder with respect to the Term Loan shall be paid in full no later than the Term Loan Maturity Date. Each Lender\u2019s Initial Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender\u2019s Initial Term Loan Commitment on such date. Each Lender\u2019s Delayed Draw Term Loan Commitment shall be permanently reduced immediately and without further action upon the funding of each Delayed Draw Term Loan in an amount equal to such Lender\u2019s Pro Rata Share (calculated in accordance with clause (a)(ii) of the definition thereof) of such funded Delayed Draw Term Loan. Each Lender\u2019s Delayed Draw Term Loan Commitment shall terminate immediately and without further action on the earlier to occur of (i) the Term Loan Maturity Date and (ii) the Delayed Draw Term Loan Commitment Termination Date after giving effect to the funding of such Lender\u2019s Delayed Draw Term Loan Commitment, if any, on such date.", "hash": "a12c743d862089474b2bd78ff2b181d5", "id": 2}, {"size": 11, "snippet_links": [{"key": "the-terms-and-conditions", "type": "definition", "offset": [15, 39]}, {"key": "the-lender", "type": "clause", "offset": [58, 68]}, {"key": "agrees-to", "type": "clause", "offset": [69, 78]}, {"key": "revolving-loans", "type": "clause", "offset": [84, 99]}, {"key": "each-borrower", "type": "clause", "offset": [151, 164]}, {"key": "availability-period", "type": "definition", "offset": [176, 195]}, {"key": "aggregate-principal-amount", "type": "clause", "offset": [202, 228]}, {"key": "at-any-time", "type": "clause", "offset": [229, 240]}, {"key": "not-to-exceed", "type": "definition", "offset": [253, 266]}, {"key": "the-loan-commitment", "type": "clause", "offset": [267, 286]}, {"key": "provided-that", "type": "clause", "offset": [288, 301]}, {"key": "amount-of-loans", "type": "clause", "offset": [326, 341]}, {"key": "borrower-shall", "type": "clause", "offset": [371, 385]}, {"key": "borrower-sublimit", "type": "definition", "offset": [401, 418]}, {"key": "to-borrow", "type": "clause", "offset": [505, 514]}, {"key": "the-loans", "type": "clause", "offset": [546, 555]}, {"key": "in-accordance-with", "type": "definition", "offset": [556, 574]}, {"key": "the-provisions", "type": "clause", "offset": [575, 589]}], "samples": [{"hash": "fHG5SA6ce7T", "uri": "/contracts/fHG5SA6ce7T#loan-commitment", "label": "Revolving Loan Agreement (Seadrill Partners LLC)", "score": 24.7453804016, "published": true}, {"hash": "52E2pcjdVvJ", "uri": "/contracts/52E2pcjdVvJ#loan-commitment", "label": "Revolving Loan Agreement", "score": 24.3552360535, "published": true}, {"hash": "aGCTpuXBNJP", "uri": "/contracts/aGCTpuXBNJP#loan-commitment", "label": "Revolving Loan Agreement (Seadrill Partners LLC)", "score": 24.3264884949, "published": true}], "snippet": "(a) Subject to the terms and conditions set forth herein, the Lender agrees to make revolving loans (each, a \u201cLoan\u201d and, collectively, the \u201cLoans\u201d) to each Borrower during the Availability Period in an aggregate principal amount at any time outstanding not to exceed the Loan Commitment, provided that the aggregate principal amount of Loans at any time outstanding to a Borrower shall not exceed the Borrower Sublimit of such Borrower.\n(b) During the Availability Period, each Borrower shall be entitled to borrow, prepay or repay, and reborrow the Loans in accordance with the provisions hereof.", "hash": "e8292020fc307e8c0ae7bf50ef187465", "id": 4}, {"size": 9, "snippet_links": [{"key": "to-pay", "type": "clause", "offset": [12, 18]}, {"key": "the-purchase-price", "type": "clause", "offset": [34, 52]}, {"key": "new-loan", "type": "clause", "offset": [68, 76]}, {"key": "as-specified", "type": "clause", "offset": [77, 89]}, {"key": "this-contract", "type": "definition", "offset": [99, 112]}, {"key": "buyer-obtaining", "type": "clause", "offset": [133, 148]}, {"key": "by-lender", "type": "definition", "offset": [198, 207]}, {"key": "verification-of-employment", "type": "definition", "offset": [220, 246]}, {"key": "of-buyer", "type": "clause", "offset": [268, 276]}, {"key": "sufficient-funds", "type": "clause", "offset": [337, 353]}, {"key": "requirements-for-funding", "type": "clause", "offset": [403, 427]}, {"key": "deemed-waived", "type": "definition", "offset": [463, 476]}, {"key": "notice-of", "type": "clause", "offset": [567, 576]}, {"key": "inability-to", "type": "clause", "offset": [585, 597]}, {"key": "buyer-shall", "type": "clause", "offset": [738, 749]}, {"key": "in-default", "type": "clause", "offset": [753, 763]}], "samples": [{"hash": "6wtM9ORRh4P", "uri": "/contracts/6wtM9ORRh4P#loan-commitment", "label": "Contract to Buy and Sell Real Estate", "score": 29.0154342651, "published": true}, {"hash": "cTyoARP5pKJ", "uri": "/contracts/cTyoARP5pKJ#loan-commitment", "label": "Contract to Buy and Sell Real Estate (Commercial)", "score": 28.2423686981, "published": true}, {"hash": "hgsgxAzmS7n", "uri": "/contracts/hgsgxAzmS7n#loan-commitment", "label": "Contract to Buy and Sell Real Estate", "score": 18.0, "published": true}], "snippet": "If Buyer is to pay all or part of the Purchase Price by obtaining a new loan as specified in \u00a7 4b, this contract is conditional upon Buyer obtaining a written loan commitment including, if required by lender, (1) lender verification of employment, (2) lender approval of Buyer\u2019s credit-worthiness, (3) lender verification that Buyer has sufficient funds to close, and (4) specification of any remaining requirements for funding said loan. This condition shall be deemed waived unless Seller receives from Buyer, no later than Loan Commitment Deadline (\u00a7 2c), written notice of Buyer\u2019s inability to obtain such loan commitment. If Buyer so notifies Seller, this contract shall terminate. IF BUYER WAIVES THIS CONDITION BUT DOES NOT CLOSE, BUYER SHALL BE IN DEFAULT.", "hash": "41b2cb4bcb31467b5c9d197e593c9fe9", "id": 7}, {"size": 13, "snippet_links": [{"key": "to-the-borrower", "type": "definition", "offset": [66, 81]}, {"key": "the-property", "type": "clause", "offset": [104, 116]}, {"key": "the-administration", "type": "clause", "offset": [120, 138]}, {"key": "provide-for", "type": "definition", "offset": [177, 188]}, {"key": "in-accordance-with", "type": "definition", "offset": [225, 243]}, {"key": "agreement-or", "type": "definition", "offset": [249, 261]}, {"key": "otherwise-disposed-of", "type": "definition", "offset": [268, 289]}], "samples": [{"hash": "fhy6t99SEfO", "uri": "/contracts/fhy6t99SEfO#loan-commitment", "label": "Loan Agreement", "score": 33.9313240051, "published": true}, {"hash": "k803gtkCei5", "uri": "/contracts/k803gtkCei5#loan-commitment", "label": "Loan Agreement", "score": 33.6680183411, "published": true}, {"hash": "eyzvpYVOlHx", "uri": "/contracts/eyzvpYVOlHx#loan-commitment", "label": "Loan Agreement", "score": 33.6680183411, "published": true}], "snippet": "The Borrower acknowledges and agrees that the monies attributable to the Borrower\u2019s Loan Commitment are the property of the Administration and are held by the Administration to provide for advances to be made to the Borrower in accordance with this Agreement or to be otherwise disposed of by the Administration in accordance with this Agreement.", "hash": "f73895a0038d359047c6fea67e8238c7", "id": 3}, {"size": 9, "snippet_links": [{"key": "the-terms-and-conditions", "type": "definition", "offset": [15, 39]}, {"key": "the-lender", "type": "clause", "offset": [58, 68]}, {"key": "agrees-to", "type": "clause", "offset": [69, 78]}, {"key": "revolving-loans", "type": "clause", "offset": [84, 99]}, {"key": "to-the-borrower", "type": "definition", "offset": [148, 163]}, {"key": "availability-period", "type": "definition", "offset": [175, 194]}, {"key": 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"/contracts/hzbAokQhF9A#loan-commitment", "label": "Revolving Loan Agreement (Hoegh LNG Partners LP)", "score": 25.4763851166, "published": true}], "snippet": "(a) Subject to the terms and conditions set forth herein, the Lender agrees to make revolving loans (each, a \u201cLoan\u201d and, collectively, the \u201cLoans\u201d) to the Borrower during the Availability Period in an aggregate principal amount at any time outstanding not to exceed the Loan Commitment.\n(b) During the Availability Period, the Borrower shall be entitled to borrow, prepay or repay, and re-borrow the Loans in accordance with the provisions hereof.", "hash": "205d29de7eed5a1a41f1d7daf53a7ad9", "id": 8}, {"size": 11, "snippet_links": [{"key": "from-time-to-time", "type": "clause", "offset": [0, 17]}, {"key": "business-day", "type": "definition", "offset": [25, 37]}, {"key": "commitment-termination-date", "type": "clause", "offset": [61, 88]}, {"key": "each-lender", "type": "clause", "offset": [90, 101]}, {"key": "to-the-borrower", "type": "definition", "offset": [157, 172]}, {"key": "equal-to", "type": "definition", "offset": [198, 206]}, {"key": "borrowing-of-loans", "type": "clause", "offset": [263, 281]}, {"key": "requested-by", "type": "definition", "offset": [282, 294]}, {"key": "terms-and", "type": "clause", "offset": [340, 349]}, {"key": "the-conditions", "type": "clause", "offset": [361, 375]}, {"key": "each-borrower", "type": "clause", "offset": [384, 397]}], "samples": [{"hash": "ptC2w5x7VU", "uri": "/contracts/ptC2w5x7VU#loan-commitment", "label": "Credit Agreement (Dollar Thrifty Automotive Group Inc)", "score": 18.0, "published": true}, {"hash": "l4aTLDFXjVM", "uri": "/contracts/l4aTLDFXjVM#loan-commitment", "label": "Credit Agreement (Dollar Thrifty Automotive Group Inc)", "score": 18.0, "published": true}, {"hash": "fijOQRQodDp", "uri": "/contracts/fijOQRQodDp#loan-commitment", "label": "Credit Agreement (Dollar Thrifty Automotive Group Inc)", "score": 18.0, "published": true}], "snippet": "From time to time on any Business Day occurring prior to the Commitment Termination Date, each Lender will make Loans (relative to such Lender, its \"Loans\") to the Borrower so requesting such Loans equal to such Lender's Percentage of the aggregate amount of the Borrowing of Loans requested by such Borrower to be made on such day. On the terms and subject to the conditions hereof, each Borrower may from time to time borrow, prepay and reborrow Loans.", "hash": "1060472833faddd4ef179d2013d5ad87", "id": 5}, {"size": 10, "snippet_links": [{"key": "subject-to-the-terms", "type": "clause", "offset": [0, 20]}, {"key": "each-lender", "type": "clause", "offset": [54, 65]}, {"key": "agrees-to", "type": "clause", "offset": [76, 85]}, {"key": "to-the-borrower", "type": "definition", "offset": [97, 112]}, {"key": "at-any-time", "type": "clause", "offset": [125, 136]}, {"key": "from-time-to-time", "type": "clause", "offset": [141, 158]}, {"key": "period-from", "type": "definition", "offset": [171, 182]}, {"key": "the-closing-date", "type": "clause", "offset": [183, 199]}, {"key": "maturity-date", "type": "definition", "offset": [222, 235]}, {"key": "the-loan-commitment", "type": "clause", "offset": [267, 286]}, {"key": "provided-that", "type": "clause", "offset": [335, 348]}, {"key": "sum-of", "type": "clause", "offset": [357, 363]}, {"key": "loans-outstanding", "type": "definition", "offset": [388, 405]}, {"key": "with-respect-to", "type": "clause", "offset": [521, 536]}, {"key": "the-lender", "type": "clause", "offset": [561, 571]}, {"key": "pro-rata-share", "type": "definition", "offset": [574, 588]}, {"key": "outstanding-loans", "type": "definition", "offset": [603, 620]}, {"key": "commitment-percentage", "type": "clause", "offset": [705, 726]}, {"key": "this-credit-agreement", "type": "clause", "offset": [790, 811]}, {"key": "amount-of-the-loan", "type": "definition", "offset": [861, 879]}], "samples": [{"hash": "fS2XDFDI2Uj", "uri": "/contracts/fS2XDFDI2Uj#loan-commitment", "label": "Five Year Credit Agreement (Dominion Resources Inc /Va/)", "score": 21.5831623077, "published": true}, {"hash": "izbNSolsoYM", "uri": "/contracts/izbNSolsoYM#loan-commitment", "label": "Credit Agreement (Dominion Resources Inc /Va/)", "score": 21.0, "published": true}, {"hash": "ha9BlaC6IVJ", "uri": "/contracts/ha9BlaC6IVJ#loan-commitment", "label": "Five Year Credit Agreement (Dominion Resources Inc /Va/)", "score": 21.0, "published": true}], "snippet": "Subject to the terms and conditions set forth herein, each Lender severally agrees to make Loans to the Borrower in Dollars, at any time and from time to time, during the period from the Closing Date to the earlier of the Maturity Date and the date of termination of the Loan Commitment (each, a \u201cLoan\u201d and collectively, the \u201cLoans\u201d); provided that (i) the sum of the aggregate amount of Loans outstanding to the Borrower plus the L/C Obligations then outstanding on any day shall not exceed the Loan Commitment and (ii) with respect to each individual Lender, the Lender\u2019s pro rata share of the sum of outstanding Loans plus the L/C Obligations then outstanding on any day shall not exceed such Lender\u2019s Commitment Percentage of the Loan Commitment. Subject to the terms and conditions of this Credit Agreement, the Borrower may borrow, repay and reborrow the amount of the Loan Commitment made to it.", "hash": "b6231cc36b0894282cf6e1948dabcf4c", "id": 6}, {"size": 9, "snippet_links": [{"key": "by-the-lender", "type": "clause", "offset": [36, 49]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [64, 88]}, {"key": "mortgage-loan", "type": "definition", "offset": [143, 156]}, {"key": "approval-letter", "type": "definition", "offset": [197, 212]}, {"key": "prequalification-letter", "type": "definition", "offset": [219, 242]}, {"key": "a-loan", "type": "definition", "offset": [259, 265]}, {"key": "this-contract", "type": "definition", "offset": [293, 306]}], "samples": [{"hash": "agRBjToO573", "uri": "/contracts/agRBjToO573#loan-commitment", "label": "Residential Contract for Sale and Purchase", "score": 22.6489105225, "published": true}, {"hash": "3ayLAAgZQrF", "uri": "/contracts/3ayLAAgZQrF#loan-commitment", "label": "Residential Contract for Sale and Purchase", "score": 22.6489105225, "published": true}, {"hash": "hu8xqvHIxPS", "uri": "/contracts/hu8xqvHIxPS#loan-commitment", "label": "Residential Contract for Sale and Purchase", "score": 20.8247776031, "published": true}], "snippet": "\u201cLoan Commitment\u201d means a statement by the lender setting forth the terms and conditions upon which the lender is willing to make a particular mortgage loan to a particular borrower. Neither a pre-approval letter nor a prequalification letter shall be deemed a Loan Commitment for purposes of this Contract.", "hash": "78a89c7f0aee79ad80b09581eef23b9e", "id": 9}, {"size": 9, "snippet_links": [{"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [15, 53]}, {"key": "section-122", "type": "clause", "offset": [65, 77]}, {"key": "subject-to-the-availability-of-funds", "type": "clause", "offset": [91, 127]}, {"key": "pursuant-to-the-indenture", "type": "clause", "offset": [142, 167]}, {"key": "agrees-to", "type": "clause", "offset": [180, 189]}, {"key": "loans-hereunder", "type": "clause", "offset": [195, 210]}, {"key": "aesop-leasing", "type": "definition", "offset": [228, 241]}, {"key": "from-time-to-time", "type": "clause", "offset": [242, 259]}, {"key": "the-initial-closing-date", "type": "clause", "offset": [272, 296]}, {"key": "loan-commitment-termination-date", "type": "definition", "offset": [314, 346]}, {"key": "loan-principal-amount", "type": "definition", "offset": [383, 404]}, {"key": "all-loans", "type": "clause", "offset": [408, 417]}, {"key": "aesop-i-operating-lease-loan-agreement-borrowing-base", "type": "definition", "offset": [471, 524]}, {"key": "the-foregoing", "type": "definition", "offset": [526, 539]}, {"key": "commitment-of-the-lender", "type": "clause", "offset": [540, 564]}], "samples": [{"hash": "jbQEjj0A4IC", "uri": "/contracts/jbQEjj0A4IC#loan-commitment", "label": "Loan Agreement (Avis Rent a Car Inc)", "score": 18.0, "published": true}, {"hash": "fvwDnrcnC59", "uri": "/contracts/fvwDnrcnC59#loan-commitment", "label": "Loan Agreement (Avis Rent a Car Inc)", "score": 18.0, "published": true}, {"hash": "5vPjx7DAvHt", "uri": "/contracts/5vPjx7DAvHt#loan-commitment", "label": "Loan Agreement (Avis Rent a Car Inc)", "score": 18.0, "published": true}], "snippet": "Subject to the terms and conditions of this Agreement, including Section 12.2, and further subject to the availability of funds to the Lender pursuant to the Indenture, the Lender agrees to make loans hereunder (the \"Loans\") to AESOP Leasing from time to time on or after the Initial Closing Date and prior to the Loan Commitment Termination Date; provided, that on any one date the Loan Principal Amount of all Loans made hereunder to AESOP Leasing shall not exceed the AESOP I Operating Lease Loan Agreement Borrowing Base. The foregoing commitment of the Lender is called the \"Loan Commitment\".", "hash": "ef944798466576f3c1c2c7607f878884", "id": 10}], "next_curs": "ClgSUmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjQLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ihhsb2FuLWNvbW1pdG1lbnQjMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 557, "children": [["use-of-proceeds", "Use of Proceeds"], ["commitment", "Commitment"], ["commitment-fee", "Commitment Fee"], ["loan-commitment", "Loan Commitment"], ["suspension-or-termination-of-commitment", "Suspension or Termination of Commitment"]], "parents": [["commitments", "Commitments"], ["loans", "Loans"], ["amount-and-terms-of-the-loans", "Amount and Terms of the Loans"], ["the-loan", "The Loan"], ["loan-commitment-and-loan", "Loan Commitment and Loan"]], "title": "Loan Commitment", "id": "loan-commitment", "related": [["term-loan-commitment", "Term Loan Commitment", "Term <strong>Loan Commitment</strong>"], ["revolving-loan-commitment", "Revolving Loan Commitment", "Revolving <strong>Loan Commitment</strong>"], ["term-loan-commitments", "Term Loan Commitments", "Term <strong>Loan Commitments</strong>"], ["loan-commitments", "Loan Commitments", "<strong>Loan Commitments</strong>"], ["swing-loan-commitment", "Swing Loan Commitment", "Swing <strong>Loan Commitment</strong>"]], "related_snippets": [], "updated": "2026-01-31T05:58:33+00:00", "also_ask": ["What are the essential conditions precedent that must be included to protect the lender?", "How can the commitment be structured to allow flexibility for both parties without undermining enforceability?", "What are the most common negotiation pitfalls or leverage points in loan commitment clauses?", "How do courts typically interpret ambiguous or conditional loan commitments in disputes?", "How does this clause compare to market standards or regulatory requirements for similar transactions?"], "drafting_tip": "Specify the loan amount and conditions for disbursement to ensure clarity; define the commitment period to prevent disputes; require written confirmation to establish enforceability.", "explanation": "A Loan Commitment clause defines the lender's obligation to provide a specified loan amount to the borrower under agreed terms and conditions. It typically outlines the timeframe during which the commitment is valid, any conditions precedent that must be satisfied before funds are disbursed, and may specify fees or penalties if the borrower does not proceed. This clause ensures both parties have a clear understanding of when and how the loan will be made available, reducing uncertainty and facilitating planning for the borrower's financial needs."}, "json": true, "cursor": ""}}