A bank will offer a binding, or credit approved term sheet which...

A bank will offer a binding, or credit approved term sheet which has an acceptance period detailed within it.

Until that acceptance period lapses, you’re free to do whatever you like. In fact, I’ve never seen a bank pull a term sheet if the acceptance period is lapsed, they’ll just extend the offer period.

No ones going to get touchy and walk away from a deal because Alara is talking to other banks.

My read on this is that Alara are yet to receive a binding term sheet, however should t be too far away now and likely they’ll have the benefit of a couple or more deals to chose from.