Page "Lipschitz continuity" Paragraph 37
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The Arzelà – Ascoli theorem implies that if is a uniformly bounded sequence of functions with bounded Lipschitz constant, then it has a convergent subsequence.
By the result of the previous paragraph, the limit function is also Lipschitz, with the same bound for the Lipschitz constant.
In particular the set of all real-valued Lipschitz functions on a compact metric space X having Lipschitz constant ≤ K is a locally compact convex subset of the Banach space C ( X ).
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