COMMITMENT Definition

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COMMITMENT is the act of standing behind a policy whose value ends when the policy is concluded. For example: " We made a commitment to do this".

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CROSS-AGED RECEIVABLE means all accounts receivable due from a Customer if more than 50% of the aggregate amount of all accounts receivable due from such Customer are aged more than 90 days.

PUTABLE BOND is a bond that contains a provision that allows the holder, or investor, a put option to tender the bond prior to maturity, generally at par. Normally a holding period, often several years, must occur before the put option may be exercised. However, the holder has flexibility, in the event interest rates go up, to tender this bond long before its normal maturity.

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