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.

Look at other dictionaries:

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  • Revolving Loan Facility — A financial institution that allows the borrower to obtain a business or personal loan where the borrower has the flexibility to decide how often they want to withdraw from the loan and at what time intervals. A revolving loan facility allows a… …   Investment dictionary

  • revolving bank facility — standby revolving credit A loan from a bank or group of banks to a company in which the company has flexibility with regard to the timing and the number of drawdowns and repayments; any loan repaid can be reborrowed subject to fulfilment of the… …   Accounting dictionary

  • revolving bank facility — standby revolving credit A loan from a bank or group of banks to a company in which the company has flexibility with regard to the timing and the number of drawdowns and repayments; any loan repaid can be reborrowed subject to fulfilment of the… …   Big dictionary of business and management

  • revolving credit loan — USA revolving credit loan, Also known as revolving credit facility, revolving loan and revolver. A committed loan facility allowing a borrower to borrow (up to a limit), repay and re borrow loans. See also revolving …   Law dictionary

  • credit facility — ➔ facility * * * credit facility UK US noun [C] ► FINANCE, BANKING an arrangement between a bank and a business that allows the business to borrow a particular amount of money for different purposes for a particular period of time: »The software… …   Financial and business terms

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  • Credit Facility — A type of loan made in a business or corporate finance context. Specific types of credit facilities are: revolving credit, term loans, committed facilities, letters of credit and most retail credit accounts. Companies frequently implement a… …   Investment dictionary

  • 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 …   Australian English dictionary