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LSDefine

Simple English definitions for legal terms

Revolving credit facility

Read a random definition: quickening

A quick definition of Revolving credit facility:

A revolving credit facility is like a piggy bank that you can keep taking money out of and putting money back into. You have to pay back what you borrow, plus some extra for interest and fees, but then you can borrow more again. It doesn't have an end date, as long as you keep being responsible with your borrowing.

A more thorough explanation:

A revolving credit facility is a type of loan that allows the borrower to borrow money on an ongoing basis. The borrower can repay the loan in regular payments, and each payment replenishes the amount available to borrow. This type of loan has no expiration date and can continue as long as the borrower has good credit.

Let's say a business has a revolving credit facility of $50,000. They borrow $10,000 and repay it over six months. During that time, they can borrow up to $50,000 again. If they borrow another $5,000, they will have $45,000 left to borrow. As they continue to make payments, the amount available to borrow will increase.

Another example is a credit card. A credit card is a type of revolving credit facility. The borrower can use the card to make purchases and repay the balance over time. As they make payments, the amount available to borrow increases.

These examples illustrate how a revolving credit facility works. The borrower can borrow money as needed and repay it over time, with the amount available to borrow replenishing with each payment.

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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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