Facilitator Guide
Payoff Letters
Facilitator Guide
Payoff Letters
- Topic
- Commercial Lending
- Duration
- Format
- Remote or in person
What’s Covered
- Repayment confirmations
- Common components of a final payoff amount
- Payment instructions
- Terminations
- Reimbursement obligations
- Reinstatement provisions
- Signatures
Before the Session
Prepare the Attendees
Send the attendees an invitation for the session. Include this link, which has the videos and exercise they’ll need to prepare.
https://www.hotshotlegal.com/trainings/payoff-letters/attendee
Prepare Yourself
Watch the videos and read the exercise so you’re familiar with the Hotshot material.
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Course
A look at payoff letters, including when they’re used, why they’re important, and what they usually contain.
During the Session
- Are there any points in payoff letters that lawyers do negotiate? If so, what are they?
- What are some of the deal-specific components that the amount due in a payoff letter can be broken down into?
- What steps can the lender take to help them avoid having to provide a new payoff letter for minor delays?
- What are some common exceptions to the termination of the loan documents in a payoff letter?
- What’s a reimbursement obligation?
- Who are some of the parties that may be signatories to the payoff letter?
- Anecdotes and war stories (e.g., about a near-disaster or a tough negotiation)
- General practice tips (dos and don’ts)
- Firm-specific guidance and practices
After the Session
About Hotshot
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