Compare a facility agreement with the firm's licensed credit-agreement form
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List the facility's economics, covenants, defaults and voting clauses in a gap table against the firm's licensed form. Do not quote a member-only model.
- What the lawyer must review
- The LSTA public page of 21 July 2026 describes model credit agreement provisions for private corporate credit. The clause text is member-only. Compare the facility with the form the firm is licensed to use, and confirm governing law. Opinion 512 requires you to verify the gap table against the facility. A missing row is not a comment to the other side until you write it.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes preparing preliminary structure or wording. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Review operative clauses in the complete document, including definitions, cross-references, schedules and inconsistencies with the instructions.
- Review the original source set for relevant material absent from the output, including contrary evidence, qualifications and remaining gaps.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.
Forms and precedents for this task
| Form or precedent | Kind | AI use | Summary |
|---|---|---|---|
| US commercial loan commitment letter outline | Letter | AI use Yellow | Outline of a US commercial loan commitment letter. |
Signed-in accounts can read the full text of each one. All precedents.