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firm commitment

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firm commitment
In securities offerings, a commitment by the underwriter to purchase securities from the issuer for resale to the public. Thus, the sale is guaranteed by a firm commitment to the issuer. With a firm commitment, the risk of being unable to sell an entire issue at the offering price is transferred from the issuer to the underwriter. Also called bought deal.
firm commitment

A lender's unqualified and irrevocable promise to grant a loan for a specified amount, which may be a firm amount or a certain percentage of the appraised value.The commitment will also specify the interest rate,term,and collateral.For commercial mortgages,the borrower should ask that the firm commitment include a statement of anticipated legal fees and other fees and expenses and,if possible,negotiate an upper limit to attorneys'fees.



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This transaction demonstrates Mack-Cali's firm commitment to building value by securing long-term leases with high credit-quality tenants.
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Referrals, co-marketing, documentation, and promotion are included in a program requiring modest cost and firm commitment.
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Four executives provided a firm commitment to stop such marketing.
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