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Friday, March 30, 2012 1:01:30 AM
I am very familiar with "conditional commitment letters" in the mortgage field. Such letters are used by people when making an offer on a residence, but carry little weight. They do not signify pre-approval which means that the lender has already vetted and pre-approved the borrower up to a certain loan amount.
See: http://www.mortgageloan.com/your-commitment-letter-firm-or-conditional-1913
"Conditional Commitment Letter" is the term Clifford Pope used in the PR. This means there is NO commitment for $10 million in funding.
And no, I am not going to give any more specifics about my background or name the corporations involved. However those who really do have experience with M&A would know that I would not know that lingo if I didn't have knowledge of and experience with such.
Please note that I did not ask you to give any specifics about your experience in loan negotiations and acquisitions.
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