Legal Question in Business Law in Florida
Survivability Clause in Commitment Letters
If a commitment letter has the following: ''The terms, conditions and requirements of this loan commitment shall survive the closing of the loan,'' 1) are we covered by this clause if something is omitted from the loan docs? 2) if the loan docs state that ''in the event of a conflict, the loan documents supercede any other agreement,'' does that negate the commitment letter?
Asked on 9/12/03, 1:13 pm
1 Answer from Attorneys
Alexander M. Rosenfeld
Rosenfeld & Stein, P.A.
Re: Survivability Clause in Commitment Letters
I really cannot comment on partial,possibly out of context clauses from an agreement. You should bring the entire agreement to competent counsel for his/her review.
Answered on 9/12/03, 2:39 pm
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