Also called: Drawdown schedule
Commitment schedule
A commitment schedule is the document under a master facility that records the details of one specific drawdown — the asset, amount, term, rate, repayment and any balloon. Each asset funded under the facility has its own schedule.
What is a commitment schedule?
A commitment schedule is the document under a master facility that records the details of one specific drawdown — the asset, amount, term, rate, repayment and any balloon. Each asset funded under the facility has its own schedule.
Example
Buying a truck and a trailer under one master facility produces two schedules: 60 months on the trailer, 48 on the prime mover.
Why it matters
It is the document that actually sets what you pay for that asset, so it is the one to check line by line.