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Revolving Credit Promissory Note
"I need a Belgian law Revolving Credit Promissory Note for a 鈧5 million facility between BankCo SA as lender and TechStart SPRL as borrower, with quarterly interest payments and a maturity date of March 15, 2025."
1. Parties: Identification of the maker (borrower) and payee (lender) with full legal names and addresses
2. Background: Context of the revolving credit facility and the purpose of the promissory note
3. Definitions: Key terms used throughout the document, including credit facility terms, interest calculations, and payment provisions
4. Promise to Pay: Unconditional promise to pay the principal amount or any part thereof that may be advanced and readvanced from time to time
5. Credit Facility Terms: Details of the revolving nature of the credit, including maximum facility amount and drawdown conditions
6. Interest Rate: Specification of interest rate(s), calculation method, and payment frequency
7. Repayment Terms: Payment schedule, method of payment, and provisions for revolving nature of the facility
8. Events of Default: Circumstances that trigger default and consequences thereof
9. Security: Reference to any security or guarantees supporting the note
10. Governing Law: Explicit statement of Belgian law as governing law
11. Execution: Signature blocks and date of execution
1. Representations and Warranties: Additional assurances from the maker, used when the credit amount is substantial or the borrower's circumstances require specific confirmations
2. Prepayment Provisions: Terms governing early repayment rights and any associated penalties, included when early repayment is permitted
3. Currency Provisions: Required when the credit facility is in a currency other than EUR
4. Tax Provisions: Included when tax implications need to be explicitly addressed, particularly for cross-border transactions
5. Assignment and Transfer: Terms governing the transfer or assignment of the note, included when transferability is anticipated
6. Notice Provisions: Detailed communication requirements, included for more complex credit relationships
7. Financial Covenants: Additional financial requirements for the borrower, included for larger credit facilities or higher-risk borrowers
1. Drawdown Notice Form: Template form for requesting advances under the revolving facility
2. Repayment Schedule: Detailed schedule of minimum repayment requirements and dates
3. Interest Rate Calculation Examples: Examples demonstrating how interest is calculated in various scenarios
4. Security Details: Detailed description of any security or collateral provided
5. Compliance Certificate: Form for periodic confirmation of compliance with terms
6. Related Security Documents: List and copies of associated security documents
Authors
Banking and Financial Services
Corporate and Investment Banking
Commercial Real Estate
Manufacturing
Retail and Consumer Goods
Technology and Software
Healthcare and Pharmaceuticals
Energy and Utilities
Transportation and Logistics
Professional Services
Legal
Finance
Treasury
Credit Risk
Compliance
Corporate Banking
Commercial Banking
Business Development
Corporate Finance
Risk Management
Chief Financial Officer
Finance Director
Treasury Manager
Corporate Banker
Relationship Manager
Credit Officer
Legal Counsel
Corporate Lawyer
Compliance Officer
Risk Manager
Financial Controller
Managing Director
Business Development Manager
Account Manager
Credit Analyst
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