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In project finance, revolving credit facilities—commonly known as "revolvers"—are employed to manage short-term liquidity and ensure that critical debt service obligations are met even when operational cash flows are variable. For example, a renewable energy project might secure a $1,000,000 revolving credit facility.
An example of a borrowing base certificate used in asset-based lending. Borrowing base certificate is the official accounting document prepared by the borrower that certifies the size of the borrowing base of an organization with the previously agreed advance rates. [11] Borrowing base certificate includes a summary calculation sheet.
Forms of loan agreements vary tremendously from industry to industry, country to country, but characteristically a professionally drafted commercial loan agreement will incorporate the following terms: Parties to contracts with their addresses; Definitions or interpretation provisions; Facility and purpose [a] Conditions precedent to utilization
In practice, this length of time is generally between 10-20 days. Warehouse facilities typically limit the amount of dwell time a loan can be on the warehouse line. For loans going over dwell, mortgage bankers are often forced to buy these notes off the line with their own cash in anticipation of a potential problem with the note.
An example of asset-based loan usage was when the global securitization market shrank to an all-time low after the collapse of investment bank Lehman Brothers Holdings Inc in 2008. [4] Within Europe in 2008, over 710 billion euros worth of bonds were issued, backed largely by asset-based loans, such as home and auto loans.
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