Definitions Clauses
(Credit Agreement)


Summary

This template is an example of an – Definitions section in a typical syndicated loan transaction or refinancing of debt under an existing credit agreement. Optional language is included for credit facilities being executed in conjunction with an acquisition or other transaction. This template includes practical guidance, drafting notes, and optional clauses. Note that these sample provisions contemplate a financing that includes the following elements: • A senior secured credit facility consisting of a term loan A facility and a term loan B facility, both funded in full at closing, and a revolving credit facility. The borrower has the ability to draw on the revolving credit facility in alternative currencies (foreign currencies other than U.S. dollars). • Agency roles for each of an administrative agent, collateral agent and issuing bank, acting for a syndicate of lenders. • Collateral and guarantee support from the loan parties, generally including a group of the borrower's ...