Checklist · Banking & Finance
US commercial loan closing checklist
Closing checklist for a US commercial loan. Each condition is copied from the signed facility. The list does not invent conditions the statute requires.
- Kind
- Checklist. Steps or checks to work through and tick off.
- Where it applies
- United States
- AI use
- Yellow You and the tool draft together, with you directing. You check every statement you rely on.
- Law stated as at
- 22 October 2026
- Status
- Maintained. Checked on 22 October 2026 against the authority it cites, for United States.
- Version
- 1
- Source
- Written for this library
When to use it
Use when a signed or agreed facility needs a closing list and a tracker. Do not use it to decide that a condition is satisfied, or to file a security document.
Used for these tasks
- Build the conditions-precedent checklist from the signed facility
- Extract conditions precedent into a closing checklist
- Build a conditions-precedent tracker for a facility agreement
Each task page says how far AI may help with the task and what the lawyer must review.
How AI may be used
Yellow: the lawyer copies each condition from the facility and decides whether it is satisfied.
AI may
- Turn each condition precedent in the facility into a row with a document, a responsible person and a status.
- Leave a row blank where the facility is silent, and flag it for the lawyer.
- Note an electronic signature against § 7001(a) where the facility permits one.
AI must not
- Do not mark a condition satisfied.
- Do not add a condition and present it as required by law.
- Do not complete a financing statement, mortgage or filing cover sheet.
- Do not draft a legal opinion.
The lawyer checks
- Read the signed facility and match every row to a clause.
- Decide which searches, opinions and payoff letters the deal actually requires.
- Confirm governing law and the filing office before any security document is lodged.
Method: how the Green, Yellow and Red levels are decided. This is guidance for planning, not legal advice.
Read the full text
The full text is available after you log in. It is free. When you log in you can:
- read the whole precedent, with its drafting notes beside it;
- copy it, or download it as a Word file or Markdown;
- add it to your firm’s knowledge base, so colleagues can find it;
- let the AI tools you connect read it from that knowledge base.
The summary, the law it rests on and the AI-use guidance above stay public. Privacy.
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All precedents for Banking & Finance · Tasks and AI use in this area