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Examples of revolving credit include credit cards, personal lines of credit and home equity lines of credit (HELOCs).

A letter of credit, or "credit letter," is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.

Facility Amount means the sum of the Aggregate Revolving Commitments and the Aggregate Term Loan Amount, as adjusted from time to time pursuant to the terms and conditions of this Agreement.

Definition of revolving 1a : tending to revolve or recur especially : recurrently available. b : of, relating to, or being credit that may be used repeatedly up to the specified limit and is usually repaid in regular proportional installments. 2 : turning around on or as if on an axis a revolving platform.

Facility Documents means this Note and any other documents, instruments, or agreements delivered as security or collateral for, or a guaranty of, the Loans, or in connection with, or as support for, any of the foregoing, whether by the Borrower or a Third Party, and any updates or renewals thereof (including, without

Also known as a loan or credit facility agreement or facility letter. An agreement or letter in which a lender (usually a bank or other financial institution) sets out the terms and conditions (including the conditions precedent) on which it is prepared to make a loan facility available to a borrower.

A revolving line of credit refers to a type of loan offered by a financial institution. Borrowers pay the debt as they would any other. However, with a revolving line of credit, as soon as the debt is repaid, the user can borrow up to her credit limit again without going through another loan approval process.

Revolving credit lines offer borrowers the option to draw funds up to a limit, repay and redraw them as they see fit. In term loans, borrowers usually make a single draw of funds and commit to pay a fixed amount periodically.

Loan facility. noun C BANKING, FINANCE. an arrangement where a person or organization can borrow money up to a particular amount if and when they need it: The industry was granted a government-backed £410m loan facility to prevent it from going bust.

Revolving credit is an agreement that permits an account holder to borrow money repeatedly up to a set dollar limit while repaying a portion of the current balance due in regular payments. Each payment, minus the interest and fees charged, replenishes the amount available to the account holder.

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"Event of Default" shall mean any of the events or occurrences specified in. Article 5 hereof, or as otherwise specified in the Loan Documents.Therefore, the court denies the request for sanctions. Bank Lines of Credit and Liquidity document. Long-Term Debt document. Sometimes a debt arises out of a closedend loan. Allegheny County for the sale of Block 2C, Lot 300 (part) in the Third Ward. b. Financial Covenant Ratios Under Bank Revolving Line of Credit Agreements .

Allegheny Pennsylvania Sample Letter regarding Revolving Note and Loan Agreement

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Which is an example of a revolving loan?

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What is the difference between a term loan and a revolving credit agreement?

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