Committed credit facility

{
  "id": "MLC-T-LAW-001097",
  "term": "Committed credit facility",
  "field": "Law",
  "definition": "A formal agreement by a lender to provide a borrower with a specified amount of credit over a defined period, which the lender cannot unilaterally cancel. The borrower typically pays a commitment fee for the assurance of available funds. This facility provides greater certainty of funding compared to an uncommitted facility.",
  "url": "https://mlchart.com/terminology/law/committed-credit-facility/"
}