Term Sheet Change Requests

Learn how to respond to change requests on term sheets

Overview

When a facility agent reviews a term sheet, they may request changes beforeapproving it. This guide explains how borrowers respond to change requests byediting, re-signing, and resubmitting their term sheets.

Who Can Use This

      • Borrowers : Edit and resubmit term sheets when changes are requested

When This Is Used

Use this process when:

      • Your term sheet status shows CHANGES_REQUESTED

      • The facility agent has requested modifications to your term sheet

      • You need to update and resubmit your term sheet

Step-by-Step Process

Step 1: Review the Change Request

1. Check Dashboard

      • Navigate to Credit Facility section

      • Find your term sheet with status CHANGES_REQUESTED

      • The Action column shows Edit Term Sheet

2. Understand What Needs to Change

      • Review the change request details provided by the facility agent

      • Note what specific changes are requested

      • Understand the reasoning if provided

                                                            Review Changes Requested - Issuer

Step 2: Edit the Term Sheet

1. Click Edit Term Sheet

      • Click the Edit Term Sheet action

      • The term sheet opens for editing

2. Make Requested Changes

      • Update the fields as requested by the facility agent

      • Modify financial terms if needed (amount, rate, etc.)

      • Upload new or revised documents if required

      • Address all requested changes

Step 3: Update and Re-sign

1. Click Update

      • After making all changes, click Update

      • An Adobe Sign popup window opens automatically

2. Complete E-Signature

      • Review the updated term sheet document

      • Complete the electronic signature process

      • Status changes to BorrowerSigned

Step 4: Resubmit to Facility Agent

1. Submit Term Sheet Popup Appears

      • After signing, the Submit to FA popup appears

      • Review the submission details

2. Click Submit

      • Click Submit to resubmit the updated term sheet

      • Status changes from BorrowerSigned to FAReview

      • Facility agent receives notification

                                                                              Submit Term Sheet to FA

Step 5: Await Review

1. Monitor Status

      • The facility agent reviews your updated term sheet

      • Possible outcomes:

            ◦ Approved : Status changes to Accepted, master commitment created

            ◦ Rejected : Status changes to Rejected (create new term sheet)

            ◦ Changes Requested Again : Repeat the process

Change Request Flow

CHANGES_REQUESTED → Edit Term Sheet → Update → Sign (Adobe Sign) → Submit → FAReview

The facility agent may:

      • Approve → Accepted → Master commitment created

      • Reject → Rejected (final)

      • Request more changes → CHANGES_REQUESTED (repeat process)

Rules & Validations

      • Only CHANGES_REQUESTED Can Edit : You can only edit term sheets whenthey're in CHANGES_REQUESTED status.

      • Re-signing Required : Every time you update a term sheet, you must sign itagain via Adobe Sign.

      • Submit After Signing : You must submit the term sheet after signing for thefacility agent to review.

      • Multiple Rounds Possible : The facility agent may request changes multipletimes before approving.

      • Address All Changes : Make sure to address all requested changes beforeresubmitting.

What Happens Next

After Resubmitting:

      • Facility agent reviews your updated term sheet

      • You receive notification of the decision

If Approved:

      • Status changes to Accepted

      • Master commitment is automatically created

      • Facility configuration proceeds

If Rejected:

      • Status changes to Rejected (final state)

      • You need to create a new term sheet

If More Changes Requested:

      • Status changes back to CHANGES_REQUESTED

      • Repeat the edit, sign, and submit process

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