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conditional commitment

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conditional commitment

An agreement by a lender to extend a loan with specified terms, but only if certain conditions are met, such as retention of occupancy rates at a certain level until the time of closing,securing of key man insurance for an important manager-owner,release from a contingent liability that might impair the borrower's financial condition, or any number of other conditions.



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The protester argues that the agency erred in rejecting its offer based on the firm's failure to furnish evidence of a conditional commitment of funds in an amount necessary to prepare the space.
This will serve as a conditional commitment fur approval of a $1,800,000 construction financing.
To ensure the system can be used in a more active manner for rapid deployment, the Secretariat is attempting to clarify the conditional commitments and verify the quality and quantity of personnel and equipment that might be made available.
 
 
 
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