LETTER OF COMFORT
A parent company's letter to a lending institution that acknowledges support of its subsidiary company’s attempt for financing. This letter does not imply the principal company assures repayment of the loan sought by the subsidiary company. It is a reassurance given to the lending facility that the parent company is cognizant that the subsidiary company is seeking a loan, and supports its move in order to stay in the business industry. Letter of comfort is usually articulated in vague working; this will keep the parent company away from being laden with a legally enforceable obligation.
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