Define: Local Facility

How is Local Facility defined in a legal contract?

• Local Facility means any of them.
  Seen in 132 SEC filings
• Local Facility means a monetary support provided to a subsidiary by a qualified provider which hasn’t been cancelled under the agreed terms.
  Seen in 12 SEC filings
• Local Facility means a monetary fund provided to a subsidiary by a bank or financial institution and is identified as a ‘Local Facility’ under the agreed documents.
  Seen in 5 SEC filings
• Local Facility means collectively, all monetary facilities availed by the borrower and its subsidiaries, which includes syndicated loan facility, a standby letter of credit facility, and a commitment for the maintenance and renewal of existing standby letters of credit. This is subjected to the condition that the borrower must be in compliance with the Leverage Ratio on a proforma basis after taking into account any draw under the facilities.
  Seen in 4 SEC filings
• Local Facility means a debt provided by a financial institution that’s identified as a ‘Local Facility’ under the contractual agreement.
  Seen in 3 SEC filings
• Local Facility means any public capital facility, primarily within a single city or county.
  Seen in 3 SEC filings
• Local Facility means a financial support provided to any Foreign Subsidiary by a Local Facility Provider.
  Seen in 3 SEC filings
• Local Facility means a residence for juveniles who are in need of services, such as those who are delinquent. It can be owned, maintained, or operated by any political subdivision or privatly.
  Seen in 3 SEC filings

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for ‘Definitions of local facility’ yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Local Facility means any public or private entity, resource, or capital support primarily serving a specific geographic area or organization.

Relevant Contract Types

• Facility Agreement Contracts
• Public Service Agreements
• Private Public Partnerships
• Lease Agreements

Relevant Circumstances

• Developments of new public facilities
• Leasing or renting of property for facilities
• Management or operation of existing local facilities
• Partnership arrangements for facility provision

Relevant Sectors

• Public Sector
• Real Estate
• Construction

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Genie Definition 2

Local Facility means a financial support tool provided to a subsidiary by a financial institution, following agreed terms.

Relevant Contract Types

• Banking Agreements
• Loan Agreements
• Credit Agreements

Relevant Circumstances

• Subsidiary financing or capital support
• Renegotiations of loan terms
• Credit provision for businesses

Relevant Sectors

• Banking
• Finance
• Corporate Law

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