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I'm setting up a contract with a lender (I'm the borrower)

Hi, I'm setting up a...
Hi, I'm setting up a contract with a lender (I'm the borrower) and one of the stipulations for the lender is that I give him access (right of first refusal) to fund other separate deals within the company. I'm not sure what the header should be for the clause? Also, could you please look this over and make any corrections you deem necessary?10. BORROWER OBLIGATION: As per agreed between the parties, the Borrower is to give right of first refusal to Lender on separate, commodity-grade coffee deals ("Container Deals"). Should Borrower fail to comply with said agreement, this contract is immediately voided and Borrower will be obligated to return loan within 90 days, as well as a full-year worth of interest payments.Please let me know if you need any additional information from me.
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12/18/2017
Infolawyer
Infolawyer, Attorney
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This provision provides lender with a competitive advantage and first option. It is not unusual but you may want to make clear that if you get an offer to lend with superior rates/terms, you may accept that transaction instead.

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Customer reply replied 8 months ago
But are there any wording changes in there that you would make outside of that? These deals are actually fixed returns, so there wouldn't necessarily be a better opportunity from another lender. He did stipulate though on the first two deals, so we should probably add that wording in there. Also, is the "BORROWER OBLIGATION" clause wording good or should we change that to "CONTRACT PROVISION" or something similar?

The wording is fine, and if not concerned with superior competing loans, I would not push back on this language at all.

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