Credit Facility. An option to borrow money. Defines the parameters in which you are able to draw down some amount as a loan, debt finance, or some other financial commitment.
A Credit Facility is a bilateral contract: The lender is legally committing to be able to extend an amount of money. Borrower can borrow (or not) as and when they see fit. It is now the borrower's right to determine when and how they draw this.
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