revolving credit facility

revolving credit facility
an arrangement (usually with a bank) that requires the borrower to undertake to make regular periodic payments into a designated account in return for the facility to borrow on that account up to a specified sum, the amount of which is usually expressed as a multiple of each contractual payment into the account. See fixed credit.

Collins dictionary of law. . 2001.


revolving credit facility

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • revolving credit — /rəvɒlvɪŋ ˈkrɛdət/ (say ruhvolving kreduht) noun a credit facility with a fixed limit that can be drawn down and repaid according to the borrower s requirements …  

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