I'm hoping someone knows the answer to this. The Financing Agreement required by statute in Maryland must include "the term during which the financing agreement remains in effect." Must that be a specific date or would it be permissible to state that the financing agreement remains in effect until the commitment letter is issued?

The statute does not include a definition of "term" and I can't find any discussion of whether this would be acceptable. If anyone has any insight I would appreciate the help.