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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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JumpySubsequentDolphin
10:24
idk about septums, i only have nostril pierced @bulb
triplethread
10:24
snow i think we will prob hear back from kent the week of dec 1st
10:24
Past 10am and ....nothing
JumpySubsequentDolphin
10:24
I think UCLA a wave today no?
babycat
10:24
🚑
What time have UCLA waves been at
Dkk
10:24
It's only 7:24 AM. We on the west coast control the time.
thismanatemyson
10:25
UCLA please save me
triplethread
10:25
snow if i dont get invited for an honors college interview i might freak
Dkk
10:25
11:22:24 AM PST, wave will come.
triplethread
10:26
dkk are u a boy or a girl
Dkk
10:26
Wizard 101 told me I was a boy wizard.
triplethread
10:26
ok
BulbasaurNoLikeCardio
10:26
I am thinking it will be slower/quitter until after thanksgiving
snow
10:27
thread im like 90% sure im getting an R, but ive come to peace that this might be my unreasonable R for the cycle
triplethread
10:27
but snow we have the same stats. you'll be fine. i promise. if im this confident you should be too
Dkk
10:27
Only tiktok I will share cus I stay off that site.
I am sorry if you like it, but TikTok is fucking awful
LSDFan
10:28
tiktok is great
triplethread
10:28
i lub tik tok and reddit and instantgram
Dkk
10:29
Nah, lol I hate it @texas. I remember when it was music.ly too and you used to have music.ly cringe compilations.
babycat
10:29
I do not have tiktok either because it makes my brain unhappy
10:29
how come i didnt get fordham AGAIN
Yeah, shit is awful. I have friends who spend hours a day on it
m10
10:30
Sorry to hear @Eggan
BulbasaurNoLikeCardio
10:30
I think tik tok is evil and coming from a national defense background, working in PSYOP and in the intelligence community I can promise it is.
glovediedthisishismom
10:30
5318008 now look at it upside down ;)
snow
10:31
tik tok and youtube reals has fried my brain
babycat
10:31
@glovediedthisishismom: boobies!!!
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