Credit agreements are the backbone of corporate finance. For starters, the two most common credit facilities are:Revolving credit facilities: They work like a credit card. Amendments and ConsentAmendments to credit agreements are inevitable, but the ability to make changes depends on consent thresholds built into the deal. Defaults and RemediesEven with covenants in place, credit agreements anticipate that things can go wrong. To learn more about this topic, view Navigating Credit Agreements.