Priority in Security and Right of Payment — Incremental Facility

Description

This smart field captures the treatment of security and right of payment for incremental facilities / increases in commitment. This smart field has not been trained to capture similar provisions regarding refinance / replacement facilities, incremental notes, or incremental equivalent debt. It is recommended that this smart field be used together with the other Incremental Facility smart fields. This smart field was trained on credit, facility, and loan agreements.