Just on the commitment fee, it's worth expanding on.
The advantage to FAR id that it locks in the current rates despite what might happen to lending conditions, LIBOR, world war 3, etc
There's surety there.
Obviously the flip side is you are paying for that comfort.
LIBOR = 7.75% * 40% = 3.1%
FAR will pay 3.1% interest on any undrawn amounts.
So if balance $300,000 - mthly interest is $775 (USD)
$200,000 - mthly interest is $516 (USD)
$100,000 - mthly interest is $258 (USD)
etc
Ann: Financing Update, page-309
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