TIMELINE
The total time from initiation of letter of intent to closing is approximately two months. This assumes no material delays due to matters uncovered during the process. This is a timeline based upon a standard transaction
| 1. Letter of Intent Extended 2. Meeting with Borrower, Site Visit Discuss ATAX Term Sheet 3. 3rd Party reports engaged by ATAX |
Initiate |
| 1st Week | |
4. Inducement Resolution by Issuer 5. Commence Legal Documents |
1st - 2nd Week |
6. First Draft of Documents Circulated 7. 3rd Party Received |
1 Month |
8. Final Drafting Session 9. Form of Documents to Issuer 10. Adoption of Authorizing Resolution of Bonds 11. Lock Interest Rate 12. Preclosing/Closing |
2 Months |