Line of Credit

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Related to Revolving line of credit: Revolving credit facility, Term loan

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 ?
For more information on the new revolving line of credit, please refer to the Current Report on Form 8-K which is expected to be filed by the Company.
This five-year secured revolving line of credit will mature on 12 November 2018.
Under the revolving line of credit, the borrowings, if any, will bear interest at a spread ranging from 2.
Further, Eurone can borrow in USD, EUR, GBP, AUD and/or INR under the revolving line of credit, it said and also mentioned that subject to certain conditions, it can increase the credit facility by up to an additional USD205m from existing or new lenders.
Available borrowings under the new revolving line of credit are based on the Company's current assets less all principal amounts outstanding under the line of credit with Silicon Valley Bank.
The revolving line of credit may be drawn by Alimera against accounts receivable following the launch of Iluvien.
The company achieved this increase by re-purposing the undrawn balance of the equipment term loan over to the revolving line of credit, which increased the revolving line of credit by USD368,788 and eliminated the equipment term loan.
Speciality biopharmaceutical company Santarus Inc (NASDAQ:SNTS) reported on Monday that it has extended the maturity date of its USD25m revolving line of credit with Comerica Bank from 11 July 2011 to 11 July 2013.
The Credit Agreement provides for a revolving line of credit (the "Line of Credit") in the principal amount of $60 million.
The new facility consists of a new $3 million revolving line of credit, a $5 million capital expenditure line of credit, and the refinancing of approximately $2 million of term debt for Meadow Valley, as well as a $10 million capital expenditure line of credit and a $5 million revolving line of credit, a portion of which was used to retire approximately $1.
In addition, the Company also announced today the expansion of Kitty Hawk's revolving line of credit with Wells Fargo Business Credit, Inc.