Subscription-Backed Credit Facility
A loan or line of credit made by a bank or other credit institution to a fund that is secured by (i) the unfunded commitments of the investors to make capital contributions to the fund when called from time to time by the fund or the fund’s general partner, (ii) the rights of the fund or its general partner to make capital calls upon the commitments of the investors and the right to enforce payment of the same and (iii) the account into which investors fund capital contributions in response to a capital call.