COMMITTITUR

committitur (k<<schwa>>-mit-<<schwa>>-t<<schwa>>r). [Latin “he is committed”] Archaic. An order or minute stating that the person named in it is to be committed to the custody of the sheriff.[Blacks Law 8th]

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COMMITTEE

committee (k<<schwa>>-mit-ee).1. (k<<schwa>>-mit-ee). A subordinate group to which a deliberative assembly or other organization refers business for consideration, investigation, oversight, or action <the bill was sent to legislative committee>. “One of the outstanding characteristics of membership organizations the world over is the powerful role played by committees in setting policy and in carrying out their…

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COMMITMENT LETTER

commitment letter. 1. A lender’s written offer to grant a mortgage loan. • The letter generally outlines the loan amount, the interest rate, and other terms. — Also termed letter of commitment. [Cases: Mortgages  211.C.J.S. Mortgages §§ 274–276.] 2.LETTER OF INTENT. [Blacks Law 8th]

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COMMITMENT FEE

commitment fee.An amount paid to a lender by a potential borrower for the lender’s promise to lend money at a stipulated rate and within a specified time. • Commitment fees are common in real-estate transactions. See LOAN COMMITMENT . [Blacks Law 8th]

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