Citibank Facility Sample Clauses

The Citibank Facility clause defines the terms and conditions under which a borrower may access credit or financial services provided by Citibank. Typically, this clause outlines the maximum borrowing limits, interest rates, repayment schedules, and any covenants or requirements the borrower must meet to maintain access to the facility. For example, it may specify that funds can be drawn up to a certain limit and must be repaid within a set timeframe, subject to compliance with financial covenants. The core function of this clause is to clearly establish the framework for the lending relationship, ensuring both parties understand their rights and obligations and reducing the risk of disputes over the facility's operation.