revolving facility
A committed facility allowing a borrower to draw down and repay amounts (up to a limit) for short periods throughout the life of the facility. Amounts repaid can be re-borrowed, thereby combining some of the flexibility of the overdraft facility with the certainty of a term loan.
+ revolving facility
USA

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

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