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Line Of Credit Contract
"I need a Line of Credit Contract under Austrian law for a manufacturing company, with a 鈧5 million facility limit, including multi-currency drawdown options in EUR and USD, and specific covenants related to maintaining minimum working capital ratios."
1. Parties: Identification of the lender (credit institution) and borrower, including full legal names, registration details, and addresses
2. Background: Context of the credit facility and relationship between the parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Facility Details: Specification of the credit limit, purpose, and type of facility
5. Interest and Fees: Detailed breakdown of interest calculation method, rates (including default interest), and all applicable fees
6. Drawdown Provisions: Terms and conditions for accessing the credit facility, including drawdown procedures and requirements
7. Repayment Terms: Conditions for repayment, minimum payments, and payment schedules
8. Security: Details of any required security or collateral for the facility
9. Representations and Warranties: Statements and assurances made by the borrower regarding their financial condition and ability to repay
10. Covenants: Ongoing obligations of the borrower during the term of the facility
11. Events of Default: Circumstances that constitute default and their consequences
12. Term and Termination: Duration of the facility and conditions for termination
13. Notices: Communication procedures between parties
14. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction
1. Guarantees: Required when there is a third-party guarantor for the facility
2. Multi-currency Provisions: Included when the facility can be drawn in multiple currencies
3. Electronic Banking Arrangements: Details of online banking access and security when electronic services are provided
4. Special Drawing Conditions: For facilities with specific purpose restrictions or special drawing requirements
5. Cross-Default Provisions: Included when the borrower has multiple facilities with the same lender
6. Insurance Requirements: When specific insurance coverage is required as part of the facility
7. Change of Circumstances: Provisions for market disruption or significant regulatory changes
8. Assignment and Transfer: Required when transfer rights need to be specifically addressed
1. Schedule 1 - Facility Limits and Pricing: Detailed breakdown of credit limits, interest rates, fees, and pricing structure
2. Schedule 2 - Drawdown Notice Form: Standard form for requesting drawdowns under the facility
3. Schedule 3 - Conditions Precedent: List of documents and conditions required before the facility becomes available
4. Schedule 4 - Security Details: Detailed description of security or collateral arrangements
5. Schedule 5 - Calculation Methods: Detailed explanation of interest and fee calculation methodologies
6. Appendix A - Required Disclosures: Mandatory disclosures required under Austrian banking and consumer protection laws
7. Appendix B - Standard Terms and Conditions: Bank's standard terms and conditions applicable to the facility
8. Appendix C - Fee Schedule: Comprehensive list of all applicable fees and charges
Authors
Banking and Financial Services
Real Estate
Manufacturing
Retail
Technology
Healthcare
Construction
Agriculture
Transportation and Logistics
Professional Services
Hospitality
Energy and Utilities
Legal
Finance
Treasury
Risk Management
Compliance
Credit Administration
Operations
Corporate Banking
Business Development
Account Management
Chief Financial Officer
Finance Director
Treasury Manager
Credit Manager
Risk Manager
Legal Counsel
Compliance Officer
Banking Relationship Manager
Corporate Finance Manager
Financial Controller
Credit Analyst
Account Manager
Business Development Manager
Operations Manager
Financial Planning Analyst
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