Commercial Loan Commitment Letter | USA

This Mississippi Certificate of Corporate Borrower is part of the paperwork documenting and securing a commercial loan. An officer of the corporation makes certifications regarding:

• the borrower's corporate status, its legal and valid authority to enter into the agreement,
• the financial situation of the borrower,
• the title and status of the property being mortgaged by the borrower as security for the loan,
• the presence of any hazardous substances on the property,
• the existence of any legal actions against the borrower or with respect to the property.

Any commercial loan transaction which uses business property as security should require an Environmental Indemnity from the borrower, like this template for lenders in the USA.

• The indemnity specifically covers the real property which the borrower is mortgaging as security for repayment of the loan.
• The borrower indemnifies the lender against any claims for environmental contamination of or damage to the property or from any violation of federal, state or local environmental regulations.
• The liability of the borrower as indemnitor will survive the repayment of the loan in perpetuity.
• The form can be used anywhere in the United States.

Protect against expensive and onerous legal claims. Download the Environmental Indemnity Agreement for your loans officers.

Every commercial loan transaction should require the borrower to sign a Security Agreement. Use this customizable downloadable template.

• This form is only for use in the United States.
• The borrower (debtor) grants the lender (secured party) a security interest in certain property of the borrower, as collateral to secure repayment of the borrower's indebtedness under a promissory note.
• The parties intend the agreement to be a security agreement under the Uniform Commercial Code.
• The secured party has the right to take whatever action it considers necessary to protect its security interest.
• All amounts secured by the agreement become immediately due and payable if the borrower files for bankruptcy or becomes insolvent.
• The debtor waives any statute of limitations with respect to enforcement of the secured party's lien.

No lender should be without a standard form Security Agreement. If you don't have one yet, download your copy now.