Credit Agreement

• Term

  Main definition

• Credit Agreement

  The definitive agreement under which one or more lenders provide loans or credit facilities (i.e., funds) to another person (the "borrower"). The credit agreement (which is usually secured by a mortgage and/or security agreement) typically provides for the most senior, secured credit arrangements of a borrower. Credit agreements can related to a term loan facility, a revolving loan facility or other kinds of credit facilities.Credit agreements contain agreed covenants of the borrower and remedies if there is an event of default by the borrower.