ABL Credit Agreement definition: Copy, customize, and use instantly
Introduction
The term "ABL Credit Agreement" refers to a type of credit agreement commonly used in asset-based lending transactions. It outlines the terms under which a borrower can access funds secured by their assets, such as accounts receivable, inventory, or other collateral. This agreement is essential for borrowers seeking to obtain financing based on the value of their tangible assets, and it typically includes provisions for asset monitoring, borrowing base calculations, and loan repayment.
Below are various examples of how "ABL Credit Agreement" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "ABL Credit Agreement" as an asset-based facility
This definition ties "ABL Credit Agreement" to an asset-based lending facility.
"ABL Credit Agreement" means a credit agreement that provides financing secured by a borrower’s assets, such as inventory, receivables, and other tangible assets.
Definition of "ABL Credit Agreement" for revolving loans
This definition links "ABL Credit Agreement" to revolving loans secured by assets.
"ABL Credit Agreement" refers to a revolving credit facility that allows a borrower to draw funds based on the value of eligible assets, with a specified borrowing base.
Definition of "ABL Credit Agreement" for working capital financing
This definition applies "ABL Credit Agreement" to working capital financing.
"ABL Credit Agreement" means a loan agreement structured to provide financing for a borrower’s day-to-day operations, secured by the borrower’s receivables and inventory.
Definition of "ABL Credit Agreement" in the context of borrowing limits
This definition connects "ABL Credit Agreement" to credit limits based on collateral.
"ABL Credit Agreement" refers to a credit facility where the lender extends credit to the borrower based on the value of the borrower’s eligible collateral.
Definition of "ABL Credit Agreement" for senior secured loans
This definition links "ABL Credit Agreement" to senior secured loans.
"ABL Credit Agreement" means a senior secured loan agreement where the borrower’s obligations are secured by specific assets, such as accounts receivable or inventory.
Definition of "ABL Credit Agreement" for financial covenants
This definition connects "ABL Credit Agreement" to financial covenants and compliance.
"ABL Credit Agreement" refers to an agreement where the borrower is required to maintain certain financial ratios and asset levels to remain in compliance with the terms of the loan.
Definition of "ABL Credit Agreement" for asset-backed credit facilities
This definition ties "ABL Credit Agreement" to an asset-backed credit facility.
"ABL Credit Agreement" means a credit agreement that extends funds based on a borrower’s collateralized assets, including inventory, accounts receivable, or other tangible assets.
Definition of "ABL Credit Agreement" for collateral monitoring
This definition links "ABL Credit Agreement" to collateral monitoring provisions.
"ABL Credit Agreement" refers to an agreement that requires the borrower to maintain and report on the value of collateral securing the loan, ensuring that the borrower’s assets remain sufficient to cover the loan balance.
Definition of "ABL Credit Agreement" for revolving lines of credit
This definition connects "ABL Credit Agreement" to revolving lines of credit.
"ABL Credit Agreement" means a revolving line of credit secured by the borrower’s assets, allowing for repeated borrowing and repayment based on available collateral.
Definition of "ABL Credit Agreement" for borrower’s reporting obligations
This definition applies "ABL Credit Agreement" to the borrower’s obligation to report on assets.
"ABL Credit Agreement" refers to a facility agreement that requires the borrower to report regularly on the status of pledged collateral to ensure it meets the required thresholds for borrowing.
Definition of "ABL Credit Agreement" in the context of loan maturity
This definition connects "ABL Credit Agreement" to the maturity of the loan.
"ABL Credit Agreement" means an agreement that sets forth the loan maturity date and the conditions under which the borrower must repay the loan secured by collateral.
Definition of "ABL Credit Agreement" for facility limits and asset appraisals
This definition ties "ABL Credit Agreement" to asset appraisal and facility limits.
"ABL Credit Agreement" refers to a credit facility where the amount available to the borrower is determined by the appraised value of collateral and subject to periodic reviews.
Definition of "ABL Credit Agreement" for drawdown and repayment terms
This definition links "ABL Credit Agreement" to drawdown and repayment schedules.
"ABL Credit Agreement" means a facility agreement that allows the borrower to draw funds as needed, based on a percentage of the appraised value of eligible collateral, with a fixed repayment schedule.
Definition of "ABL Credit Agreement" for loan conditions
This definition ties "ABL Credit Agreement" to loan conditions.
"ABL Credit Agreement" refers to an agreement that outlines specific conditions under which the lender will extend credit to the borrower, based on the value of pledged collateral.
Definition of "ABL Credit Agreement" for borrower’s asset management
This definition connects "ABL Credit Agreement" to asset management and protection.
"ABL Credit Agreement" means an agreement that requires the borrower to maintain and safeguard pledged assets, ensuring that their value remains sufficient to secure the loan.
Definition of "ABL Credit Agreement" for lender’s rights in default
This definition applies "ABL Credit Agreement" to the lender’s rights in case of default.
"ABL Credit Agreement" refers to the loan agreement that specifies the lender’s rights to seize and liquidate collateral if the borrower defaults on the loan.
Definition of "ABL Credit Agreement" in the context of loan covenants
This definition ties "ABL Credit Agreement" to loan covenants, including performance thresholds.
"ABL Credit Agreement" means an agreement that includes covenants requiring the borrower to meet certain performance metrics or asset levels in order to maintain access to the credit facility.
Definition of "ABL Credit Agreement" for collateral-based borrowing
This definition connects "ABL Credit Agreement" to borrowing based on collateral.
"ABL Credit Agreement" refers to a lending arrangement where the borrower borrows funds based on the value of their collateralized assets, such as inventory, receivables, and other tangible property.
Definition of "ABL Credit Agreement" for loan terms and conditions
This definition applies "ABL Credit Agreement" to the general terms and conditions of the loan.
"ABL Credit Agreement" means a credit agreement outlining the specific terms and conditions under which a borrower may access funds secured by eligible assets.
Definition of "ABL Credit Agreement" for borrowing base calculation
This definition links "ABL Credit Agreement" to the calculation of borrowing bases.
"ABL Credit Agreement" refers to the loan agreement specifying the method of calculating the borrowing base, which determines the available amount of credit based on the value of the borrower’s assets.
Definition of "ABL Credit Agreement" for asset-based financing
This definition ties "ABL Credit Agreement" to asset-based financing.
"ABL Credit Agreement" means a financing agreement where the borrower secures a loan by pledging specific assets, such as accounts receivable and inventory, to the lender.
Definition of "ABL Credit Agreement" for lender’s collateral rights
This definition connects "ABL Credit Agreement" to the lender’s collateral rights in case of default.
"ABL Credit Agreement" refers to the agreement specifying the rights of the lender to take possession of and liquidate the borrower’s collateral if the borrower defaults on repayment.
Definition of "ABL Credit Agreement" for loan repayment obligations
This definition links "ABL Credit Agreement" to the repayment obligations of the borrower.
"ABL Credit Agreement" means a loan agreement specifying the borrower’s obligations to repay amounts borrowed under the agreement, secured by the borrower’s assets.
Definition of "ABL Credit Agreement" for borrower's asset valuation
This definition applies "ABL Credit Agreement" to the valuation of assets pledged by the borrower.
"ABL Credit Agreement" refers to the loan agreement that requires the borrower to have their pledged assets periodically appraised to ensure they meet the required threshold for borrowing.
Definition of "ABL Credit Agreement" for credit facility duration
This definition connects "ABL Credit Agreement" to the duration of the credit facility.
"ABL Credit Agreement" means a facility agreement specifying the duration of the credit facility, during which the borrower may draw funds secured by their assets.
Definition of "ABL Credit Agreement" for drawdown limits
This definition ties "ABL Credit Agreement" to drawdown limits based on collateral value.
"ABL Credit Agreement" refers to a facility agreement where the amount of funds the borrower can draw is limited by the value of the borrower’s pledged assets, with periodic adjustments.
Definition of "ABL Credit Agreement" for loan terms review
This definition links "ABL Credit Agreement" to the review of loan terms.
"ABL Credit Agreement" means a credit facility agreement that provides for periodic reviews of loan terms, including borrowing limits and collateral values.
Definition of "ABL Credit Agreement" for borrower’s asset liquidation
This definition applies "ABL Credit Agreement" to asset liquidation upon default.
"ABL Credit Agreement" refers to the loan agreement that allows the lender to liquidate the borrower’s pledged assets in the event of default to recover the outstanding loan balance.
Definition of "ABL Credit Agreement" for financial structure of the loan
This definition connects "ABL Credit Agreement" to the financial structure of the loan.
"ABL Credit Agreement" means a structured loan agreement where the loan amount is determined by the value of the borrower’s assets, and the financial terms depend on the status of those assets.
Definition of "ABL Credit Agreement" for eligibility of collateral
This definition links "ABL Credit Agreement" to the eligibility criteria for collateral.
"ABL Credit Agreement" refers to an agreement that sets forth the types of collateral that are eligible to secure the loan, including specific asset types like receivables and inventory.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.