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What are the Line of Credit terms?

April 26, 2017line of credit terms

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What are the Line of Credit terms?

1 Answer

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The Line of Credit (LOC) is renewable annually; however, so long as the Partnership is not in default, the LOC cannot be called. If the bank declines to renew the LOC, the remaining balance will be amortized over a three-year period. This means the bank cannot put us in an illiquid position.