Designed and made in Canada
Commercial real estate · Loan workouts
Every term sheet and draft of a loan extension, in one room
A commercial mortgage is coming due and the property will not refinance on the old terms. The borrower and the lender work out an extension, a paydown, a rate change or a forbearance. A deal gives that one negotiation a shared, dated room for sixty days.
The problem
A workout runs on term sheets, marked-up drafts and side emails between the borrower, its counsel, the lender’s workout team and the lender’s counsel. Conditions are traded one at a time. Weeks later, nobody can say quickly which version of the paydown or the reporting covenant was the one agreed.
How Termsroom handles it
- Every term sheet and draft is kept in order with its date and who sent it, with what changed from the last one.
- The points still open, such as the new maturity date, the paydown, the rate, the fees and the reporting, are listed, and each one agreed is recorded.
- Your side keeps a private room for your client and your advisers. The lender sees only the shared table.
- The other side and their counsel join free, and need no storage of their own.
What you end up with
A dated record of the whole workout, from the first request to the agreed terms, kept read only for the file once the deal ends.
Where it fits
Maturity extensions
Extending a loan that is coming due, with the conditions the lender sets.
Loan modifications
A change to the rate, amortization, covenants or reserves of a loan in force.
Forbearance agreements
Time to cure a default, and the terms that come with it.
Refinancing term sheets
The rounds with a new lender before the commitment letter.
What it costs
Your first deal is free. After that, each workout is $150 for sixty days.
- A thirty-day extension is $50, up to two per deal, so one workout can run for up to 120 days.
- A firm with many files can buy five for $500 or twenty-five for $1,945, or take Deals Unlimited at $4,995 a year for up to 25 people.
Launch prices, the same figure in Canadian or US dollars, for purchases made until 31 October 2027. Until buying deals online opens, write to sales@termsroom.com.
Worth knowing
- A deal is two organisations: the borrower’s side and the lender’s side. A loan with several lenders negotiating at once, or a capital stack with several investors, is not supported.
- It does not sign the agreement. Sign it the way you do today, with your e-signature tool or on paper.
- It does not give legal or credit advice and does not tell you what to accept. Your counsel and your advisers still do that.
- It is not a loan servicing system and does not hold payment or account data.
A question? Talk to us.
Buying, a security review, a purchase order, or a question about your own situation: write to us and a person on the team will reply.