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[3] 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.
A cleanup clause is a contractual provision in a loan agreement which provides that all loans must be repaid within a specified period, after which no further loans will be made available to the debtor for a specified "cleanup" period. It may also refer to revolving line of credit.
During the first three days the facility was open, an average of $13.3 billion was borrowed daily with $28.8 billion in loans outstanding. [5] [6] Lending activity peaked in the first week of October 2008, averaging around $150 billion daily. The facility closed on February 1, 2010.
The Credit Agreement replaces an existing credit facility entered into on July 20, 2017, and reflects substantially the same terms and conditions. ... The new revolving credit facility will ...
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Categorizing loan agreements by type of facility usually results in two primary categories: term loans, which are repaid in set installments over the term, or revolving loans (or overdrafts ) where up to a maximum amount can be withdrawn at any time, and interest is paid from month to month on the drawn amount.
The warehouse lenders in most cases provide the loan for a period of fifteen to sixty days. [3] Warehouse lines of credit are usually priced off 1-month LIBOR plus a spread. [ 4 ] Also, warehouse lenders typically apply a 'haircut' to credit line advances meaning that only 98% - 99% of the face amount of loans are being funded by them; the ...