(Bilateral Facility) Sample Clauses

A Bilateral Facility clause defines an agreement between two parties, typically a lender and a borrower, where the lender provides a specific credit facility directly to the borrower. This clause outlines the terms under which the borrower can draw funds, the repayment schedule, and any applicable interest or fees. For example, it may specify a revolving credit line or a term loan, detailing the obligations and rights of both parties. The core function of this clause is to establish clear terms for the provision and use of credit, ensuring both parties understand their commitments and reducing the risk of disputes.