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The Revolving Promissory Note is commonly used in Belgian commercial transactions where parties require flexible financing arrangements. It combines the legal characteristics of a promissory note with revolving credit features, allowing borrowers to draw and repay funds multiple times during the facility period. This document type is particularly useful for businesses with varying capital needs or seasonal cash flow patterns. The note must comply with Belgian legal requirements for negotiable instruments while incorporating specific provisions for the revolving nature of the facility. It typically includes details about the maximum facility amount, interest calculations, draw conditions, repayment terms, and events of default. The document's structure ensures it meets both Belgian legal requirements and practical business needs while remaining enforceable under Belgian law.

1. Parties: Identification of the maker (borrower) and payee (lender), including full legal names, addresses, and registration numbers

2. Background: Context of the revolving credit arrangement and relationship between the parties

3. Definitions: Key terms used in the note, including 'Facility Amount', 'Interest Rate', 'Draw Period', and 'Maturity Date'

4. Promise to Pay: Unconditional promise to pay the principal amount and interest, stating the maximum facility amount

5. Revolving Nature: Terms governing the revolving feature, including conditions for multiple draws and repayments

6. Interest Provisions: Interest rate, calculation method, payment frequency, and default interest

7. Repayment Terms: Schedule and methods of repayment, minimum payments, and prepayment provisions

8. Draw Conditions: Requirements and procedures for making draws under the note

9. Events of Default: Circumstances constituting default and consequences

10. Governing Law: Specification of Belgian law as governing law and jurisdiction