Loan Or Credit Agreement
Term: Loan Or Credit Agreement
Definition: A legally binding contract between a borrower and a lender that outlines the terms and conditions for borrowing money, including the loan amount, interest rates, payment schedule, repayment terms, fees, and consequences of default. Also known as a lending agreement, financing agreement, or credit agreement, it regulates the mutual promises and obligations made by each party and serves as the legal framework for the lending relationship.
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