Credit Agreement definition: Copy, customize, and use instantly
Introduction
The term "Credit Agreement" refers to a legal contract between a lender and a borrower that outlines the terms and conditions under which the lender provides credit to the borrower. It typically includes provisions related to the amount of credit, repayment schedule, interest rates, collateral, and any other obligations or conditions that must be met by both parties. A well-drafted credit agreement is essential for clarifying the expectations of both the lender and borrower, ensuring enforceability, and managing risks.
Below are various examples of how "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 "Credit Agreement" as a loan contract
This definition ties "Credit Agreement" to the formal contract for a loan.
"Credit Agreement" means a contract between the lender and borrower that defines the terms of the loan, including the principal amount, repayment schedule, interest rate, and any collateral or security interests, along with all other related obligations and rights of the parties.
Definition of "Credit Agreement" as a revolving credit facility
This definition connects "Credit Agreement" to revolving credit.
"Credit Agreement" refers to an agreement under which the lender provides the borrower with a revolving line of credit, allowing the borrower to borrow, repay, and borrow again up to a specified limit over a defined period.
Definition of "Credit Agreement" as a term loan agreement
This definition links "Credit Agreement" to a term loan.
"Credit Agreement" means a formal agreement in which the lender provides a lump sum loan to the borrower with a fixed repayment schedule over a predetermined period, including terms regarding interest rates, fees, and covenants.
Definition of "Credit Agreement" as an asset-backed loan agreement
This definition applies "Credit Agreement" to asset-backed loans.
"Credit Agreement" refers to a loan agreement where the borrower’s assets serve as collateral for the credit, and the agreement outlines the terms under which the lender can seize those assets in case of default.
Definition of "Credit Agreement" as a syndicated loan agreement
This definition ties "Credit Agreement" to syndicated loans.
"Credit Agreement" means an agreement between multiple lenders (a syndicate) and a borrower, in which the lenders pool resources to provide credit to the borrower, with terms negotiated and governed by the agreement.
Definition of "Credit Agreement" as a secured loan agreement
This definition connects "Credit Agreement" to secured loans.
"Credit Agreement" refers to an agreement in which the loan is secured by collateral provided by the borrower, outlining the rights and obligations of both parties in relation to the loan and security interest.
Definition of "Credit Agreement" as a bridge loan agreement
This definition ties "Credit Agreement" to bridge loans.
"Credit Agreement" means an agreement that outlines the terms of a short-term loan used to bridge the gap between two financing events, typically to provide immediate liquidity until a more permanent source of capital is arranged.
Definition of "Credit Agreement" as an intercreditor agreement
This definition connects "Credit Agreement" to intercreditor agreements.
"Credit Agreement" refers to a credit arrangement that involves multiple creditors and sets forth their respective rights and priorities with respect to the borrower’s obligations, often in situations where multiple lenders are involved.
Definition of "Credit Agreement" as a bilateral agreement
This definition applies "Credit Agreement" to bilateral agreements.
"Credit Agreement" means a contract between a single lender and a single borrower, in which both parties agree to the terms of the loan, including repayment schedules, interest rates, and the obligations of each party.
Definition of "Credit Agreement" as a facility agreement
This definition ties "Credit Agreement" to a facility agreement.
"Credit Agreement" refers to a facility agreement where a lender agrees to provide a borrower with access to a specific amount of credit for a defined period, often with terms related to usage, repayment, and collateral.
Definition of "Credit Agreement" as a covenant-heavy agreement
This definition connects "Credit Agreement" to covenants.
"Credit Agreement" means a loan agreement that includes a number of restrictive covenants, such as financial performance targets, reporting requirements, and other conditions designed to protect the lender’s interests.
Definition of "Credit Agreement" as a multi-currency agreement
This definition links "Credit Agreement" to multi-currency loans.
"Credit Agreement" refers to a credit agreement that allows the borrower to draw funds in different currencies, typically subject to exchange rate fluctuations, with specific provisions regarding repayment and interest calculation in multiple currencies.
Definition of "Credit Agreement" as a revolving credit line
This definition ties "Credit Agreement" to a revolving credit line.
"Credit Agreement" means an agreement in which the lender provides the borrower with access to a revolving credit line, where the borrower can draw, repay, and re-borrow funds up to an agreed limit, subject to interest and fees.
Definition of "Credit Agreement" as a facility with discretionary borrowing
This definition connects "Credit Agreement" to discretionary borrowing.
"Credit Agreement" refers to an agreement in which the borrower has the discretion to request loans from the lender at certain intervals or upon meeting specific conditions, with the terms of repayment and interest rate outlined.
Definition of "Credit Agreement" as an unsecured loan agreement
This definition links "Credit Agreement" to unsecured loans.
"Credit Agreement" means a loan agreement where no collateral is provided by the borrower, and the lender's only recourse in case of default is to pursue the borrower’s assets through legal means.
Definition of "Credit Agreement" as a loan contract
This definition ties "Credit Agreement" to the formal contract for a loan.
"Credit Agreement" means a contract between the lender and borrower that defines the terms of the loan, including the principal amount, repayment schedule, interest rate, and any collateral or security interests, along with all other related obligations and rights of the parties.
Definition of "Credit Agreement" as a revolving credit facility
This definition connects "Credit Agreement" to revolving credit.
"Credit Agreement" refers to an agreement under which the lender provides the borrower with a revolving line of credit, allowing the borrower to borrow, repay, and borrow again up to a specified limit over a defined period.
Definition of "Credit Agreement" as a term loan agreement
This definition links "Credit Agreement" to a term loan.
"Credit Agreement" means a formal agreement in which the lender provides a lump sum loan to the borrower with a fixed repayment schedule over a predetermined period, including terms regarding interest rates, fees, and covenants.
Definition of "Credit Agreement" as an asset-backed loan agreement
This definition applies "Credit Agreement" to asset-backed loans.
"Credit Agreement" refers to a loan agreement where the borrower’s assets serve as collateral for the credit, and the agreement outlines the terms under which the lender can seize those assets in case of default.
Definition of "Credit Agreement" as a syndicated loan agreement
This definition ties "Credit Agreement" to syndicated loans.
"Credit Agreement" means an agreement between multiple lenders (a syndicate) and a borrower, in which the lenders pool resources to provide credit to the borrower, with terms negotiated and governed by the agreement.
Definition of "Credit Agreement" as a secured loan agreement
This definition connects "Credit Agreement" to secured loans.
"Credit Agreement" refers to an agreement in which the loan is secured by collateral provided by the borrower, outlining the rights and obligations of both parties in relation to the loan and security interest.
Definition of "Credit Agreement" as a bridge loan agreement
This definition links "Credit Agreement" to bridge loans.
"Credit Agreement" means an agreement that outlines the terms of a short-term loan used to bridge the gap between two financing events, typically to provide immediate liquidity until a more permanent source of capital is arranged.
Definition of "Credit Agreement" as an intercreditor agreement
This definition applies "Credit Agreement" to intercreditor agreements.
"Credit Agreement" refers to a credit arrangement that involves multiple creditors and sets forth their respective rights and priorities with respect to the borrower’s obligations, often in situations where multiple lenders are involved.
Definition of "Credit Agreement" as a bilateral agreement
This definition ties "Credit Agreement" to bilateral agreements.
"Credit Agreement" means a contract between a single lender and a single borrower, in which both parties agree to the terms of the loan, including repayment schedules, interest rates, and the obligations of each party.
Definition of "Credit Agreement" as a facility agreement
This definition connects "Credit Agreement" to a facility agreement.
"Credit Agreement" refers to a facility agreement where a lender agrees to provide a borrower with access to a specific amount of credit for a defined period, often with terms related to usage, repayment, and collateral.
Definition of "Credit Agreement" as a covenant-heavy agreement
This definition links "Credit Agreement" to covenants.
"Credit Agreement" means a loan agreement that includes a number of restrictive covenants, such as financial performance targets, reporting requirements, and other conditions designed to protect the lender’s interests.
Definition of "Credit Agreement" as a multi-currency agreement
This definition applies "Credit Agreement" to multi-currency loans.
"Credit Agreement" refers to a credit agreement that allows the borrower to draw funds in different currencies, typically subject to exchange rate fluctuations, with specific provisions regarding repayment and interest calculation in multiple currencies.
Definition of "Credit Agreement" as a revolving credit line
This definition ties "Credit Agreement" to a revolving credit line.
"Credit Agreement" means an agreement in which the lender provides the borrower with access to a revolving credit line, where the borrower can draw, repay, and re-borrow funds up to an agreed limit, subject to interest and fees.
Definition of "Credit Agreement" as a facility with discretionary borrowing
This definition connects "Credit Agreement" to discretionary borrowing.
"Credit Agreement" refers to an agreement in which the borrower has the discretion to request loans from the lender at certain intervals or upon meeting specific conditions, with the terms of repayment and interest rate outlined.
Definition of "Credit Agreement" as an unsecured loan agreement
This definition links "Credit Agreement" to unsecured loans.
"Credit Agreement" means a loan agreement where no collateral is provided by the borrower, and the lender's only recourse in case of default is to pursue the borrower’s assets through legal means.
Definition of "Credit Agreement" as a hybrid credit facility
This definition applies "Credit Agreement" to hybrid credit facilities.
"Credit Agreement" refers to a hybrid credit facility that combines both secured and unsecured lending elements, allowing the borrower to access different types of credit under one agreement.
Definition of "Credit Agreement" as a subordinated loan agreement
This definition connects "Credit Agreement" to subordinated loans.
"Credit Agreement" means an agreement involving a subordinated loan, where the lender’s rights to repayment are lower in priority compared to other creditors in the event of borrower default or liquidation.
Definition of "Credit Agreement" as a revolving term loan
This definition links "Credit Agreement" to a revolving term loan.
"Credit Agreement" refers to an agreement that combines elements of both a revolving credit line and a term loan, allowing the borrower to draw funds on a revolving basis, with a fixed repayment term.
Definition of "Credit Agreement" as a trade credit agreement
This definition ties "Credit Agreement" to trade credit.
"Credit Agreement" means an agreement between a supplier and a buyer that allows the buyer to delay payment for goods or services received, typically on agreed credit terms, such as net 30 or net 60 days.
Definition of "Credit Agreement" as an agreement for working capital financing
This definition applies "Credit Agreement" to working capital.
"Credit Agreement" refers to an agreement used to provide a borrower with financing for day-to-day operational expenses, typically involving short-term credit that is repaid once working capital needs are met.
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.