 Definition of Master credit agreement - Finance dictionary
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Master credit agreement ((See Chapter 22 of the Vernimmen))
Master credit agreement is a confirmed credit line between several banks offering a group (and by extension its subsidiaries) a raft of credit facilities covering: overdrafts, commercial credit lines, back-up lines, foreign currency advances, etc. These master credit agreements take the form of a contract and give rise to an engagement commission (see also commitment fee) on all credits committed by banks, in addition to the contractual remuneration on each line drawn down.
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Definitions of terms begining
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Master credit agreement ((See Chapter 22 of the Vernimmen))
Master credit agreement is a confirmed credit line between several banks offering a group (and by extension its subsidiaries) a raft of credit facilities covering: overdrafts, commercial credit lines, back-up lines, foreign currency advances, etc. These master credit agreements take the form of a contract and give rise to an engagement commission (see also commitment fee) on all credits committed by banks, in addition to the contractual remuneration on each line drawn down.
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