Qualifying Commitment to Lend Law and Legal Definition

According to 12 CFR 32.2 [Title 12 -- Banks and Banking; Chapter I -- Comptroller of the Currency, Department of the Treasury; Part 32 -- Lending Limits] qualifying commitment to lend means “a legally binding written commitment to lend that, when combined with all other outstanding loans and qualifying commitments to a borrower, was within the bank's lending limit when entered into, and has not been disqualified.”