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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 ...
For example, a renewable energy project might secure a $1,000,000 revolving credit facility. When the project draws $400,000 for operational expenses, it is charged an upfront fee—typically around 1.5% of the total facility (amounting to $15,000)—and interest is assessed on the drawn amount.
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.
Loan agreements are documented via their commitment letters, agreements that reflect the understandings reached between the involved parties, a promissory note, and a collateral agreement (such as a mortgage or a personal guarantee). Loan agreements offered by regulated banks are different from those that are offered by finance companies in ...
At the end of the quarter, we made a $25 million prepayment to our term loan and amended our credit agreement. Regarding guidance for fiscal 2025. As a result of our Q2 performance, we are ...
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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.
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.