Finance Deals & Syndicated Lending · glossary
The availability period is the time during which a borrower can draw money under a loan facility. The facility agreement defines it. For a term loan it is usually short, often ending when a purchase completes. For a revolving facility it runs almost to the end of the loan. Any amount not drawn by the end is cancelled.
The window in which a facility can be drawn. Sunrise's term loan can be drawn until the purchase completes, or until the Long Stop Date if that comes first. The revolver stays open until one month before the Termination Date. Definition: Availability Period · Chapter 7
Explained in Chapter 7, Utilisation and Repayment, of Finance Deals & Syndicated Lending.
Atlas can draw Facility A only during its Availability Period (the time a facility can be drawn). For the term loan, that period ends when the acquisition completes, or on the Long Stop Date if it has not completed by then (definition). That date is 31 March 2027, the last day by which the purchase must complete. If the deal falls through, the facility simply expires unused.Read Chapter 3, Facilities and Their Flavours →
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(a) in relation to Facility A, the period from the date of this Agreement to (and including) the earlier of the date on which the Acquisition completes and the Long Stop Date; and (b) in relation to Facility B, the period from the date of this Agreement to (and including) the date falling one month before the Termination Date;Read the definition in the document →
The window in which the borrower may ask for money under a facility. Before it starts, or after it ends, the lenders do not have to lend, even if every other condition is met.
It is a defined term, often set for each facility separately. In this edition's training agreement, the term loan can be drawn until the purchase completes or the long stop date passes, and the revolving facility until one month before the loan ends.
Related terms
Where this term lives
This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open Finance Deals & Syndicated Lending → · All terms A–Z →