open credit definition

open credit means credit under a credit agreement that

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

open credit means credit or a loan of money under a credit agreement that,

open credit means credit that anticipates advances will be made when requested by the borrower in accordance with a high-cost credit agreement that, other than a credit limit, does not establish the total amount to be advanced to the borrower under the agreement.

More Definitions of open credit

open credit means credit extended under a credit agreement if the credit agreement (a) anticipates multiple advances that are to be made when requested by the borrower in accordance with the credit agreement, and (b) does not establish the total amount to be advanced to the borrower under the credit agreement, although it may impose a credit limit;

open credit means credit under a credit agreement if the credit agreement

open credit means credit under a credit agreement that (b) anticipates multiple advances to be made as requested by the borrower in accordance with the agreement, and does not define the total amount to be advanced to the borrower under the agreement, although it may impose a credit limit;