It takes approximately 700 years...

[muck_a_luck]

...to draft a deal when the borrower is a five-member TIC

Comments

[alpha_strike]

OK, in my world TIC means "titanium carbide". In what context are you using it?

[muck_a_luck]

Tenants-in-common. So instead of ABC, LLC, an Alabama limited liability company (the "Borrower"), we have ABC, LLC, an Alabama limited liability company, DEF, LLC, an Alabama limited liability company, GHI, LLC, an Oregon limited liability company, LMN, LLC, an Oregon limited liability company, and OPQ, LLC, a Missouri limited liability, as tenants-in-common (collectively, the "Borrower"), AND the corresponding five signature blocks, which are hella annoying to fit onto one page, depending on what else is on the page. Plus, there are five notice addresses, and five W-9s, and five different sets of organizational documents to check for stupidity (luckily thus far not my responsibility - I was giving my attorney comfort cookies yesterday, as I am not the type of person to take another person out for a drink). Not to mention that for this small loan, we have seven guarantors. So. Seven guarantor agreements. (for context, loans ten times this amount almost always have a single guarantor). Just completely annoying. And because of