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Development Credit Agreement
"I need a Development Credit Agreement under Austrian law for a 鈧50 million renewable energy project in Upper Austria, with quarterly disbursements starting March 2025 and including specific provisions for technology performance guarantees and environmental impact monitoring."
1. Parties: Identification of the lender and borrower, including their legal status and authority to enter into the agreement
2. Background: Context of the development project, purpose of the credit facility, and relationship between the parties
3. Definitions and Interpretation: Comprehensive list of defined terms and interpretation rules used throughout the agreement
4. The Facility: Details of the credit facility, including amount, purpose, and availability period
5. Conditions Precedent: Prerequisites that must be satisfied before the credit facility becomes available
6. Drawdown Procedures: Process and requirements for requesting and receiving disbursements
7. Interest and Fees: Interest rate calculation, payment dates, and applicable fees
8. Repayment Terms: Schedule and methods of repayment, including any grace period
9. Development Project Implementation: Obligations regarding project execution, milestones, and development objectives
10. Representations and Warranties: Statements of fact and assurances given by the borrower
11. Covenants: Positive and negative obligations of the borrower during the loan period
12. Monitoring and Reporting: Requirements for project progress reports and financial statements
13. Events of Default: Circumstances constituting default and their consequences
14. Remedies: Lender's rights and actions in case of default
15. Governing Law and Jurisdiction: Confirmation of Austrian law governance and jurisdiction arrangements
16. Notices: Communication procedures and contact details
17. Miscellaneous Provisions: Standard boilerplate clauses including severability, amendments, and entire agreement
1. Security: Required when the credit facility is secured by collateral or guarantees
2. Tax Provisions: Detailed tax arrangements when specific tax implications need to be addressed
3. Environmental and Social Requirements: Specific environmental and social standards when required by the development objectives
4. Procurement Requirements: Rules for procurement when the development project involves significant purchasing
5. Currency Provisions: Required when the facility involves multiple currencies or specific exchange rate arrangements
6. Assignment and Transfer: Included when parties need flexibility to transfer rights or obligations
7. Force Majeure: Specific force majeure provisions when required for high-risk development regions
8. Anti-Corruption Provisions: Enhanced anti-corruption requirements for high-risk jurisdictions or sectors
1. Schedule 1 - Project Description: Detailed description of the development project, including objectives and implementation plan
2. Schedule 2 - Disbursement Schedule: Detailed timeline and conditions for credit disbursements
3. Schedule 3 - Repayment Schedule: Detailed amortization schedule and payment dates
4. Schedule 4 - Form of Drawdown Request: Standard form for requesting disbursements
5. Schedule 5 - Reporting Requirements: Templates and specifications for required reports
6. Schedule 6 - Conditions Precedent Documents: List of required documents and evidence for conditions precedent
7. Schedule 7 - Required Authorizations: List of necessary permits, licenses, and approvals
8. Appendix A - Development Indicators: Specific metrics and targets for measuring project success
9. Appendix B - Environmental and Social Standards: Detailed environmental and social compliance requirements
10. Appendix C - Procurement Guidelines: Detailed procurement procedures and requirements
Authors
Infrastructure Development
Renewable Energy
Healthcare
Education
Agriculture and Rural Development
Urban Development
Water and Sanitation
Transportation
Environmental Protection
Social Housing
Small and Medium Enterprise Development
Technology and Innovation
Sustainable Industry
Legal
Finance
Risk Management
Project Management
Environmental and Social
Credit Operations
Treasury
Procurement
Technical Operations
Compliance
International Banking
Chief Financial Officer
Legal Counsel
Development Finance Manager
Project Finance Director
Credit Risk Manager
Environmental and Social Compliance Officer
Project Implementation Manager
Treasury Manager
Procurement Manager
Technical Operations Director
Development Impact Officer
Senior Loan Officer
Compliance Manager
International Banking Manager
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