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Also known as a loan or credit facility agreement or facility letter. An agreement or letter in which a lender (usually a bank or other financial institution) sets out the terms and conditions (including the conditions precedent) on which it is prepared to make a loan facility available to a borrower.

A security agreement refers to a document that provides a lender a security interest in a specified asset or property that is pledged as collateral. Terms and conditions are determined at the time the security agreement is drafted.

A facilities agreement is a contract between a lender and a borrower where the terms and conditions are defined. This agreement may also be called a facility, loan, or credit facility agreement. A facilities agreement is a form of short-term financing.

A loan agreement is regarded as a contract res (contrat reel) that is, a contract which can only be entered into if the lender effectively transfers the funds to the borrower, while a facility agreement is a mere promise of a loan, in other words a promise to transfer the funds to the borrower on his request, the ...

A secured loan agreement is a contract between a borrower and a lender. The borrower will give collateral to the lender to get access to money from the lender. Businesses most often use secured loans because they offer more flexibility than unsecured loans for borrowers with low credit ratings or little cash on hand.

It's often simply called a loan, credit facility agreement, or facility letter. A facility agreement is a short-term loan for a specific amount that does not require collateral. Instead, the borrower pays interest and repays the loan over time.

What is a Facility Agreement? A facility agreement is a contract between a borrower and a lender. The agreement sets out the terms and conditions of the agreement. It's often simply called a loan, credit facility agreement, or facility letter.