Finance Deals & Syndicated Lending · glossary
A formal letter from a law firm to the lenders confirming legal points: each Obligor exists, had power to sign, signed properly and is bound. It never says the borrower is a good risk. An opinion of lenders' counsel is a condition precedent. Schedule 2 · Chapter 2
Explained in Chapter 2, Who's Who in a Syndicated Loan, of Finance Deals & Syndicated Lending.
The lenders also want a legal opinion, a formal letter from a law firm to the lenders confirming legal points about the deal. An opinion from the lenders' counsel is one of the conditions in Schedule 2 that Atlas must meet before it can draw.Read Chapter 2, Who's Who in a Syndicated Loan →
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