A hotel comfort letter is a document issued by a hotel franchisor to a lender when a hotel owner (the borrower) seeks financing. It provides the lender with assurances about the relationship between the franchisor, borrower,...more
If you’re a commercial property owner facing the threat of foreclosure, or just skimming headlines you’ve likely seen the phrase “giving back the keys”. Although this expression may sound like an informal and straightforward...more
1. Demonstrates Commitment. While the majority are non-binding, the parties’ willingness to negotiate and execute a letter of intent demonstrates a preliminary commitment to the deal. 2. Confirms Material Terms. Reaching an...more