Committed Credit Facility
Committed Credit Facility. A credit facility which has been formally agreed between a potential lender and a potential borrower.
This represents a formal commitment from the potential lender. The commitment may also describe committed tranches of the Credit Facility set out for different purposes. This may have fees associated with it.
A credit facility that is committed to be available for a stated period under specific conditions and is formally recorded as an obligation of a finance provider. The committed nature of the facility requires a more stringent credit assessment than is the case with an Uncommitted Facility
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