Turn the conditions precedent into a closing checklist
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List each closing condition from the credit agreement, the document that answers it, and whether that document is in the closing set.
- What the lawyer must review
- Each condition is the clause in this agreement, not a market standard. Opinion 512 allows you to use a checklist only after you have tested the tool on a sample of conditions and compared the rows with the agreement. Do not tell the client the conditions are met because a row says a document is present. Keep the closing set out of a public tool (Model Rule 1.6).
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Consider narrowly defined preparation support after confirming 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.
- 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 closing checklist | Checklist | AI use Yellow | Closing checklist for a US commercial loan. |
Signed-in accounts can read the full text of each one. All precedents.