Uncommitted Facility

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Uncommitted Facility

An agreement between a bank and a company or, rarely, an individual to provide an unspecified amount in loans on demand from the borrower. The borrower is under no obligation to actually take out a loan at any particular time. Funds borrowed are not repaid on any particular schedule, but they must be repaid on demand from the bank. This agreement is fairly common in situations where a business must make payroll but does not always have the operating income to do so. See also: Committed facility, Line of credit, Overdraft facility.
References in periodicals archive ?
8bn) since end-2008, and currently has a unutilized borrowing facility of USD 1,170mn, including USD 607mn of uncommitted facilities.
facilities, in addition to uncommitted facilities and finance lease agreements,
The new facility, which extends the previously uncommitted facilities, will be available for working capital loans and for the issuance of letters of credit of up to $300 million.
Mr Richards said Hammerson has more than pounds 600 million in cash and uncommitted facilities and was reviewing whether this should be used to make fresh investments, to return capital to shareholders, or a combination of the two.
3 billion under committed and uncommitted facilities.
Ward, Chairman and CEO, stated, "Cash flow from operations, combined with the Revolving Credit Facility and other uncommitted facilities, will meet the Company's capital requirements for the foreseeable future.
The available capacity under these uncommitted facilities is not factored into Fitch's liquidity considerations.
Ward, Chairman and CEO, stated, "Cash flow from operations, combined with an increase in the Revolver and other uncommitted facilities, will meet the Company's strategic needs for the foreseeable future.
uncommitted credit facilities, the available capacity under these uncommitted facilities are not factored into Fitch's liquidity considerations.
3 million was outstanding), the available capacity under these uncommitted facilities are not factored into Fitch's liquidity considerations.
In addition, about $4 billion of other existing credit facilities at various GM and GMAC subsidiaries in Europe, Canada and Australia are also being renegotiated on a one-on-one basis with certain banks in order to extend maturities and convert currently uncommitted facilities into committed revolving credits.
At March 31, 2009, no borrowings were outstanding on any of the facilities, but the company had LCs outstanding of approximately $243 million on its committed facilities, and $218 million on uncommitted facilities.