Definition for : Master credit agreement

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.
(See Chapter 22 Shares of the Vernimmen)
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