commitment letter Definition

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commitment letter

Definition

A formal offer by a lender making explicit the terms under which it agrees to lend money to a borrower over a certain period of time. also called standby loan commitment or commitment letter or firm commitment lending. also called loan commitment.

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'commitment letter' appears in the definitions of these other terms on BusinessDictionary.com

commitment fee, letter of interest (LOI), letter of commitment, loan commitment letter

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