How is Credit Repayment defined in a legal contract?
- Credit Repayment means the completion of all these conditions: (a) full settlement of monetary Credit Obligations in cash or other immediately available funds; (b) termination of all commitments and credit lines related to providing additional funds; and (c) cash collateralization of any continuing contingent obligation, acceptable to each affected lender, where a claim under such obligation has been claimed by any lender. Seen in 2 SEC filings.
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
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Which definition should you use?
π€ has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Credit Repayment means full payment of all Credit Obligations, termination of all credit lines and collateralization of outstanding obligations.
Relevant Contract Types
Relevant Circumstances
- Loan Repayment
- Debt Settlement
- Resolving credit disputes
- Finalizing mortgages
Relevant Sectors
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