tiktok���˰�

The Line of Credit Agreement is a fundamental financing instrument used in Austrian banking and commercial practice, providing flexible access to credit for both businesses and individuals. This document is typically employed when a borrower requires ongoing access to funds rather than a one-time loan, allowing for repeated borrowing and repayment within an agreed limit. The agreement must comply with Austrian banking regulations, including the Banking Act (BWG) and Civil Code (ABGB), while incorporating relevant EU directives. It's particularly useful for managing working capital, seasonal cash flow fluctuations, or ongoing operational expenses. The document includes comprehensive terms covering facility limits, drawdown mechanisms, interest calculations, security requirements, and regulatory compliance measures specific to the Austrian jurisdiction.

1. Parties: Identification of the lender(s) and borrower(s), including their full legal names, registration details, and addresses

2. Background: Brief context of the agreement and the purpose of the line of credit

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation

4. The Facility: Details of the credit line including the total amount, purpose, and availability period

5. Conditions Precedent: Conditions that must be satisfied before the facility becomes available

6. Drawdown: Procedures and requirements for drawing down the credit line, including notice requirements

7. Interest: Interest rate provisions, calculation methods, and payment dates

8. Fees: All applicable fees including arrangement fees, commitment fees, and other charges

9. Repayment: Terms for repayment including minimum payments, overdue amounts, and final repayment

10. Representations and Warranties: Standard representations and warranties given by the borrower

11. Covenants: Positive and negative obligations of the borrower during the term of the facility

12. Events of Default: Circumstances constituting default and consequences thereof

13. Changes to Parties: Provisions regarding assignment and transfer rights

14. Notices: Communication requirements and contact details

15. Calculations and Certificates: Provisions regarding calculations of amounts due and certification

16. Partial Invalidity: Severability provisions if parts of the agreement become invalid

17. Remedies and Waivers: Rights and remedies of the lender and waiver provisions

18. Governing Law and Jurisdiction: Confirmation of Austrian law as governing law and jurisdiction provisions