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LSDefine

Simple English definitions for legal terms

credit facility

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A quick definition of credit facility:

A credit facility is like a special loan that a business can use whenever they need money. They don't have to keep applying for a new loan every time they need more money. It's kind of like having a credit card for a business. They can borrow up to a certain amount and pay it back over time. There are different types of credit facilities, but they are only for businesses, not for regular people.

A more thorough explanation:

A credit facility is a type of loan that allows a borrower to access funds on an ongoing basis over a period of time, without having to apply for a new loan each time they need money. It is similar to a credit card, where the borrower can access a certain amount of credit and borrow as needed.

Credit facilities are typically used in a business or corporate finance context. There are different types of credit facilities, including:

  • Committed credit facilities: A lender agrees to provide a specific amount of credit to a borrower for a set period of time.
  • Uncommitted credit facilities: A lender agrees to provide credit to a borrower, but the borrower is not obligated to use it.
  • Revolving credit facilities: A lender agrees to provide a certain amount of credit to a borrower, which can be used and repaid repeatedly over a set period of time.

For example, a company may obtain a revolving credit facility of $1 million from a bank. The company can then borrow up to $1 million as needed, and repay the borrowed amount over time. As long as the company does not exceed the $1 million limit, it can continue to borrow and repay funds as needed.

Credit facilities can be a useful tool for businesses that need access to funds on an ongoing basis, without having to go through the process of applying for a new loan each time they need money.

credit default swap | credit file

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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