Draw Down Facility
Dear Friend, I think I really need some favor here: I was reading some business contract referring to a word DROW DOWN FACILITY, which to my interpretation is some facility that can provides draw down service? As in the sentence: the company is seek a senior secured draw down facility of up to $ 60 million...

can you help me with this? Thank you so much.

Question

Draw Down Facility
Dear Friend, I think I really need some favor here: I was reading some business contract referring to a word DROW DOWN FACILITY, which to my interpretation is some facility that can provides draw down service? As in the sentence: the company is seek a senior secured draw down facility of up to $ 60 million...

can you help me with this? Thank you so much.

Answer

Not really. The word "facility" in this context is not a physical place like an office or factory. It means "the ability to" implement (start) a drawdown.

Answer

from google:

A draw down facility or the option of borrowing money from your mortgage is a benefit offered by a flexible mortgage type. Another important aspect of a flexible mortgage is that it allows you to make overpayments, and this is especially beneficial if you do not have a stable income.

Answers · 4

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