Revolving
/rɪˈvɒlvɪŋ/
Definitions
- (adj.) Describing a credit or loan facility that allows the borrower to borrow, repay, and borrow again up to a set limit.
The company arranged a revolving credit facility to manage its cash flow fluctuations.
- (v.) (present participle) Acting in a manner of continuously moving around a central point or concept, often used metaphorically in legal contexts to describe recurring terms or conditions.
The parties agreed to a contract with a revolving clause that renewed annually.
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Commentary
In legal and financial documents, 'revolving' frequently modifies credit or loan terms, signifying flexibility to reuse borrowed funds within agreed limits.
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.