availability period

availability period
England, Wales
availability period Also known as the commitment period.
It is a set period during which a borrower may draw down a loan.
In a term loan, it is usually a relatively short period after signing the facility agreement. In a revolving facility, the period extends, in general terms, throughout the life of the loan.
Typically, any commitment fees will accrue and be payable during this period.
See also

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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