Definition of A Commitment


A Commitment means in relation to the Original Lender, the amount set opposite its name under the heading "A Commitment" in Part 2 of Schedule 1 (Original Properties and Original Lenders) to the extent not cancelled or reduced by it under or in accordance with this Agreement.
Sample 1

Examples of A Commitment in a sentence

A Commitment and Certificate issued as the result of any Application submitted hereunder and the coverage provided under this Policy will be for the sole and exclusive benefit of the Insured and the Owner of the related Loan, and in no event will any Borrower or other Person be deemed a party to, or an intended beneficiary of, this Policy or any Commitment or Certificate.
The initial amount of each Lender's Tranche A Commitment is set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender shall have assumed its Tranche A Commitment, as applicable.
Within the limits of each Lender's Unused Tranche A Commitment, and subject to the other terms and conditions hereof, the Tranche A Borrowers may borrow under this Section 2.1(a), prepay under Section 2.4, and reborrow under this Section 2.1(a).
Subject to the terms and conditions set forth herein, each Term A Lender severally agrees to make a single loan to the Borrower on the Closing Date in an amount not to exceed such Term A Lenders Term A Commitment.
Subject to the terms and conditions hereof, Advances under the Facility A Commitment may be repaid and reborrowed from time to time on a revolving basis.