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LSDefine

Simple English definitions for legal terms

committed credit facility

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A quick definition of committed credit facility:

A committed credit facility is an agreement between a borrower and a lender where the lender promises to lend money to the borrower if certain conditions are met. The borrower can choose to reduce or end the credit facility at any time, but the lender can only end it if the borrower doesn't follow the agreement. These types of credit facilities are usually long-term and can last up to five years.

A more thorough explanation:

A committed credit facility is a type of loan agreement between a borrower and a lender. In this agreement, the lender agrees to lend a specific amount of money to the borrower, provided that the borrower meets certain conditions. Once these conditions are met, the lender is obligated to lend the money.

For example, let's say a company needs to borrow $1 million to expand its business. The company negotiates a committed credit facility with a bank. The bank agrees to lend the money, but only if the company meets certain conditions, such as maintaining a certain level of revenue or profitability. If the company meets these conditions, the bank is obligated to lend the money.

Committed credit facilities are generally long-term, lasting up to five years. The borrower can terminate or reduce the credit facility at any time, while the lender can only terminate if the borrower defaults on the credit facility.

commitment | commodity classification request

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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