Credit Agreement
/ˈkrɛdɪt əˌɡriːmənt/
Definitions
- (n.) A legally binding contract outlining the terms under which a lender extends credit to a borrower.
The parties signed the credit agreement to formalize the loan conditions.
- (n.) A contract specifying obligations, interest rates, repayment schedules, and covenants related to a loan.
The credit agreement included detailed repayment terms and penalties for default.
Related terms
See also
Commentary
Draft credit agreements with clarity in repayment and default terms to avoid disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.