This form is an opinion of local counsel for the lessee. The form provides that none of the agents and the lenders are required under the laws of the state to qualify as a foreign corporation, foreign trust company or otherwise in the state, or to file any designation for service of process in the state, solely as a result of its execution, delivery and performance of the subject documents to which it is a party.
Pennsylvania Form of Opinion of Local Counsel for Lessee
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US-60948
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How to fill out Form Of Opinion Of Local Counsel For Lessee?
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FAQ
Just as a tenant's estoppel certificate is relied upon by a lender as to the status of a lease and ostensibly precludes a tenant from later arguing about issues pertaining to its lease, the attorney opinion letter allow the lender to rely on the opinion of borrower's counsel as to certain matters relating to its
Enforceability Opinion means an executed original of a written legal opinion from counsel for Seller (such counsel to be reasonably acceptable to Buyer), concerning this Agreement and the Ancillary Documents (including enforceability and due authorization thereof) and related matters, in form and substance satisfactory
The purpose of a legal opinion in a transaction is to provide an additional layer of assurance to the party receiving the opinion. In loan transactions in the United States, it is customary for the borrower's counsel to provide an opinion to the lender (but not vice versa).
The purpose of a legal opinion in a transaction is to provide an additional layer of assurance to the party receiving the opinion. In loan transactions in the United States, it is customary for the borrower's counsel to provide an opinion to the lender (but not vice versa).
Borrower's Counsel is responsible for reviewing the provisions of the Tax Credit Documents to ensure the documents are consistent with the required opinion concerning the supremacy of the Primary Loan Documents and the Supporting Loan Documents.
Also called an opinion letter. An opinion from lawyers issued in letter form expressing legal conclusions about and/or legal analysis of a transaction or matter which is relied on by the addressee of the opinion.
Opinion of Counsel means a written opinion from legal counsel who is acceptable to the Trustee. The counsel may be an employee of or counsel to the Company or the Trustee.
A legal opinion letter provides the lender with certain assurances, and the borrower with the confidence and security that what they are signing is accurate in light of the transaction.
Lawyers very often use the term local counsel to describe an attorney who provides assistance on a matter within their jurisdiction, while the attorney primarily responsible for the matter, or lead counsel, practices in a different jurisdiction.
Opinion of Borrower's Counsel means an opinion rendered to the Lender by Borrower's counsel in a form acceptable to the Lender and its counsel.