The Term Facility Agreement is used when a borrower requires term loan financing under Danish law, typically for specific business purposes such as acquisitions, capital expenditure, or refinancing existing debt. This document type is essential for both bilateral and syndicated lending arrangements, providing a comprehensive framework that addresses all aspects of the lending relationship. The agreement must comply with Danish regulatory requirements, including the Danish Financial Business Act, Danish Contracts Act, and Danish Interest Act. It includes detailed provisions on facility terms, drawdown mechanics, repayment schedules, security arrangements (if applicable), and events of default. The Term Facility Agreement also incorporates specific Danish law concepts and requirements regarding enforcement, security interests, and regulatory compliance, making it distinct from similar agreements under other jurisdictions.
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Key Requirements PROMPT example:
Term Facility Agreement
I need a Danish law Term Facility Agreement for a EUR 50 million secured loan to a renewable energy company, with multiple lenders in a syndicate and sustainability-linked provisions to be included, targeting completion by March 2025.
1. Parties: Identification of the lender(s), borrower(s), and any guarantors
2. Background: Context of the facility and purpose of the agreement
3. Definitions and Interpretation: Defined terms, rules of interpretation, and Danish law-specific definitions
4. The Facility: Details of the facility amount, purpose, and availability
5. Conditions Precedent: Documents and conditions required before utilization
6. Utilization: Process and requirements for drawing down the facility
7. Repayment: Terms of repayment including scheduled repayments
8. Prepayment and Cancellation: Voluntary and mandatory prepayment provisions
9. Interest: Interest calculation, periods, and payment provisions in accordance with Danish Interest Act
10. Fees: Commitment fees, arrangement fees, and other charges
11. Tax Gross Up and Indemnities: Tax provisions and related indemnities
12. Increased Costs: Provisions for changes in law or regulations affecting lender's costs
13. Representations: Borrower's representations and warranties
14. Information Undertakings: Financial and other information to be provided by borrower
15. General Undertakings: Positive and negative covenants
16. Events of Default: Default triggers and consequences
17. Changes to Parties: Transfer and assignment provisions
18. Administration: Payment mechanics and administrative provisions
19. Notices: Communication methods and contact details
20. Calculations and Certificates: Basis for calculations and form of certificates
21. Governing Law and Enforcement: Danish law as governing law and enforcement provisions
1. Financial Covenants: Include when financial ratios and tests are required, typically for corporate borrowers
2. Security: Include when the facility is secured, detailing security structure and enforcement
3. Guarantee: Include when there are guarantors providing credit support
4. Agent and Security Agent Provisions: Include for syndicated facilities with multiple lenders
5. Majority Lenders: Include for syndicated facilities, defining voting rights and decision-making
6. Currency Provisions: Include when facility involves multiple currencies
7. Market Disruption: Include for CIBOR/EURIBOR based facilities
8. Sustainability-Linked Provisions: Include for green or sustainability-linked facilities
1. Conditions Precedent: List of required documents and conditions
2. Form of Utilization Request: Template for drawdown requests
3. Form of Transfer Certificate: Template for transfers between lenders
4. Repayment Schedule: Detailed repayment installments and dates
5. Form of Compliance Certificate: Template for periodic compliance certification
6. Form of Assignment Agreement: Template for assigning rights under the agreement
7. Commitment Schedule: Details of lender commitments (for syndicated loans)
8. Security Documents: Forms of security documents under Danish law
9. Calculation of the Fixed Rate: Methodology for fixed rate calculations if applicable
10. Form of Accession Letter: Template for additional parties joining the agreement
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate
Manufacturing
Energy and Utilities
Infrastructure
Technology
Healthcare
Retail
Transportation and Logistics
Telecommunications
Agriculture
Construction
Professional Services
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Credit
Corporate Banking
Operations
Transaction Management
Documentation
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Corporate Lawyer
Relationship Manager
Credit Officer
Risk Manager
Compliance Officer
Financial Controller
Investment Manager
Corporate Banking Manager
Loan Officer
Transaction Manager
Senior Business Analyst
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