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Availability period
Practical Law UK Glossary 7-382-4213 (Approx. 3 pages)
Glossary
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.