Contractual commitment to advance funds definition

Contractual commitment to advance funds generally means a bank's obligation to advance funds under a legally binding contractual commitment to make a loan or extension of credit.
Sample 1Sample 2Sample 3
Contractual commitment to advance funds means a bank’s obligation to do either of the following:
Sample 1Sample 2Sample 3
Contractual commitment to advance funds means an obligation on the part of the industrial loan corporation to make payments, directly or indirectly, to a designated third party contingent upon a default by the industrial loan's customer in the performance of an obligation under the terms of that customer's contract with the third party or an obligation to guarantee or stand as surety for the benefit of a third party to the extent permitted by law. The term includes standby letters of credit, guarantees, puts and other similar arrangements. Undisbursed loan or lease funds and loan or lease commitments not yet drawn upon are not considered a contractual commitment to advance funds.
Sample 1Sample 2Sample 3

Examples of Contractual commitment to advance funds in a sentence

  • As used in RCW 30A.04.111 and this chapter, the terms "loan," "loans," "extension of credit," "extensions of credit," and "loan or extension of credit" refer, as applicable, to the singular or plural of "loans and extensions of credit." (3) "Contractual commitment to advance funds" generally means a bank's obligation to advance funds under a legally binding contractual commitment to make a loan or extension of credit.

  • As used in RCW 30A.04.111 and this chapter, the terms "loan," "loans," "extension of credit," "extensions of credit," and "loan or extension of credit" re- fer, as applicable, to the singular or plural of "loans and extensions of credit."(3) "Contractual commitment to advance funds" generally means a bank's obligation to advance funds under a legally binding contractual commitment to make a loan or extension of credit.

  • As used in RCW ((30.04.111)) 30A.04.111 and this chapter, the terms "loan," "loans," "extension of credit," "extensions of credit," and "loan or extension of credit" refer, as applicable, to the singu­ lar or plural of "loans and extensions of credit."(3) "Contractual commitment to advance funds" generally means a bank's obligation to advance funds under a legally binding contractual commitment to make a loan or extension of credit.

  • As used in RCW 30A.04.111 and this chapter, the terms "loan," "loans," "extension of credit," "extensions of credit," and "loan or extension of credit" refer, as applicable, to the singular or plural of "loans and extensions of credit."(3) "Contractual commitment to advance funds" gen- erally means a bank's obligation to advance funds under a legally binding contractual commitment to make a loan or extension of credit.(12/1/17) [Ch. 208-512A WAC p.

  • As used in RCW 30.04.111 and this chapter, the terms "loan," "loans," "extension of credit," "extensions of credit," and "loan or extension of credit" refer, as applicable, to the singular or plural of "loans and extensions of credit."(3) "Contractual commitment to advance funds" gen- erally means a bank's obligation to advance funds under a legally binding contractual commitment to make a loan or extension of credit.

  • Co n- s u m e r p a pe r a lso i n cl u des p a pe r cov- e r i n g t h e le a se ( w h e r e t h e b an k is n o t t h e ow n e r o r lesso r ) o r p ur c ha se of eq u ip m e n t fo r u se i n m anufa c t ur i n g, far m i n g, co n s t ru c t io n , o r exc a v a t io n .(f) Contractual commitment to advance funds.


More Definitions of Contractual commitment to advance funds

Contractual commitment to advance funds means a bank's obligation to do either of the following:
Sample 1Sample 2Sample 3

Related to Contractual commitment to advance funds

  • Maximum Revolving Advance Amount means $30,000,000.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.