Evergreen credit

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Evergreen credit

Revolving credit without maturity.

Evergreen Credit

A revolving line-of-credit without a maturity date. As with other revolving lines-of-credit, the borrower may take and repay funds as needed up to a certain limit. See also: Evergreen loan.
References in periodicals archive ?
Shaw's Evergreen facility is part of a system of efficient post-consumer carpet collection, recycling, and value recovery on a large scale.
On the effective date of a plan of reorganization, all obligations under the Commercial Term Loan and Credit Agreement, dated as of June 6, 2003, among the Company, the lenders party thereto and HSBC Bank USA, as agent (the "Evergreen Facility"), will either (i) remain outstanding on terms agreed upon between the Company and the lenders under the Evergreen Facility or as otherwise permitted by the Bankruptcy Code or (ii) be refinanced in whole or in part.
This evergreen facility provides $300 million of availability to finance new vehicle inventory manufactured by Ford Motor Company and its affiliates.
The Evergreen facility includes production offices and additional Avid edit suites.