term loan

term loan
term loan see loan

Merriam-Webster’s Dictionary of Law. . 1996.

term loan
A loan which is to be repaid only after a fixed period and may not be demanded before that time. There may be a series of events such as failure to pay interest or other events of default, which, if they occur, would cause the loan to be repayable immediately.

Easyform Glossary of Law Terms. — UK law terms.


term loan
A committed facility allowing a borrower to draw a lump sum (although occasionally the term loan will allow for drawings in several portions or tranches) for a set period with an agreed schedule for repayment. Once repaid, an amount cannot then be re-borrowed (unlike a revolving facility).
USA
A committed facility allowing a borrower to draw a lump sum (although occasionally the term loan will allow for several drawings) for a set period with an agreed schedule for repayment. Once repaid, an amount cannot then be re-borrowed (unlike a revolving credit loan).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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