Line of Credit

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Related to Revolving Credit Line: Revolving credit facility, Available Credit

Line of Credit

The maximum borrowing power granted to a person from a financial institution.

Line of credit denotes a limit of credit extended by a bank to a customer, who can avail himself or herself of its full extent in dealing with the bank but cannot exceed this limit. It most frequently covers a series of transactions, in which case, when the customer's line of credit is nearly exhausted or not replenished, the customer is expected to reduce the indebtedness by submitting payments to the bank before making additional use of the line of credit.

See: capital
References in periodicals archive ?
Credit granting services - revolving credit line worth 25 million RON, in order to ensure pre-financing and / or co-financing projects benefiting from external funds, according to the descriptive documentation.
The Credit Agreement, which governs both the revolving credit line and the term loan, contains covenants that are based on 12-month historical profitability computations, with which the Company is in violation for the quarter ended September 30, 2010 as a result of write-offs taken by the Company in the fourth quarter of its fiscal year ended June 30, 2010.
The revolving credit line was arranged by a bank syndicate comprised by 16 global commercial banks.
for short-term revolving credit line, provided in the following section of tenders as far as possible:
Effective on September 10, 1999, the revolving credit line will bear interest at a fixed rate of up to six months based on the London Interbank Offered Rate ("LIBOR") plus 1.
Laurus") have agreed on a new debt financing agreement, which includes both a revolving credit line to a maximum of one million dollars ($1,000,000) and a secured convertible note in the amount of two million dollars ($2,000,000).
The Credit Facility also covers a term loan of $30 million without amortization, due and payable upon the expiration of the revolving credit line.
6 billion senior unsecured credit facility (the "Credit Agreement"), consists of a US$966 million and C$40 million (the US dollar equivalent of $34 million) revolving credit line and a $600 million term loan.
NYSE: CKE) today announced that it has increased its capital availability by increasing its revolving credit line from $100 million to $175 million through a bank syndicate group led by Wachovia Bank of Georgia, N.
The financing package includes more than $2 million for the capital expenses associated with the project, as well as in addition, a revolving credit line to provide working capital for initial production activity.
It replaces a $6 million revolving credit line scheduled to expire Oct.