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Line Of Credit Contract

Line Of Credit Contract Template for Belgium

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Key Requirements PROMPT example:

Line Of Credit Contract

"I need a Line of Credit Contract under Belgian law for a 鈧5 million secured facility to a manufacturing company, with quarterly interest payments and a maturity date of March 15, 2025, including provisions for multiple drawdowns and a security package over the borrower's equipment."

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Document background
The Line of Credit Contract is essential for businesses and individuals seeking flexible financing options under Belgian law. This document establishes a revolving credit facility where the borrower can repeatedly draw down funds up to a predetermined limit, repay, and reborrow during the facility's term. It's commonly used for working capital management, project financing, or ongoing operational needs. The agreement must comply with Belgian financial regulations, including the Code of Economic Law and banking regulations, particularly regarding interest rate calculations, consumer protection (if applicable), and security arrangements. The document typically includes detailed provisions for facility mechanics, conditions precedent, representations, covenants, and events of default, all structured to meet Belgian legal requirements and market practices.
Suggested Sections

1. Parties: Identification of the lender(s) and borrower(s) with full legal names and addresses

2. Background: Context of the credit facility and purpose of the agreement

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

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

5. Interest and Fees: Interest calculation method, applicable rates, fees, and charges

6. Drawdown Mechanics: Procedures and conditions for requesting and making drawdowns

7. Repayment Terms: Terms for repayment, including minimum payments and final maturity

8. Representations and Warranties: Statements of fact and assurances given by the borrower

9. Borrower Covenants: Ongoing obligations of the borrower during the life of the facility

10. Events of Default: Circumstances that constitute default and their consequences

11. Changes to Parties: Rules regarding assignment and transfer of rights and obligations

12. Payments and Calculations: Payment mechanics, business day conventions, and calculation rules

13. Notices: Communication methods and contact details for formal notices

14. General Provisions: Miscellaneous legal provisions including governing law and jurisdiction

Optional Sections

1. Security Arrangements: Required when the facility is secured by collateral or guarantees

2. Consumer Protection Provisions: Required when the borrower is a consumer, including mandatory Belgian consumer credit protections

3. Syndication Provisions: Required for facilities with multiple lenders or potential syndication

4. Tax Gross-Up and Indemnities: Detailed tax provisions for complex corporate arrangements

5. Increased Costs and Market Disruption: Provisions dealing with changes in regulatory requirements or market conditions

6. Set-off Rights: Detailed set-off provisions for use with institutional borrowers

7. Data Protection: Detailed GDPR compliance provisions when personal data processing is extensive

Suggested Schedules

1. Conditions Precedent: List of documents and conditions required before first drawdown

2. Form of Drawdown Request: Standard form for requesting drawdowns under the facility

3. Calculation of Interest and Fees: Detailed methodology for calculating interest and fees

4. Form of Transfer Certificate: Standard form for transferring rights and obligations

5. Security Documents: Details of any security arrangements and related documentation

6. Repayment Schedule: If applicable, schedule of minimum repayment amounts and dates

7. Contact Details: List of authorized contacts and their details for both parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




























































Clauses









































Relevant Industries

Banking and Financial Services

Corporate Finance

Real Estate

Manufacturing

Retail

Construction

Technology

Healthcare

Professional Services

Energy

Transportation and Logistics

Agriculture

Relevant Teams

Legal

Finance

Treasury

Credit Risk

Compliance

Corporate Banking

Operations

Risk Management

Commercial Banking

Credit Administration

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Credit Manager

Relationship Manager

Legal Counsel

Compliance Officer

Risk Manager

Corporate Banking Officer

Credit Analyst

Financial Controller

Account Manager

Corporate Treasurer

Banking Operations Manager

Credit Risk Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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