This paper provides an overview of commercial lending, including a discussion of Term Sheets and Loan Agreements. Following this overview, the author provides recommendations on the legal due diligence required in commercial lending transactions. The paper provides an analysis of the documentation required in a commercial mortgage transaction, including Non-Disturbance Agreements, a General Assignment of Rents and Leases, and Debentures. Commercial mortgage lending precedents are included.
This paper was presented at our Land Mortgage Financing and Enforcement Fundamentals program in November of 2012.