The Credit Line Against Bank Guarantee agreement is utilized when a borrower requires access to credit facilities but needs to provide additional security through a bank guarantee. This document, governed by English and Welsh law, is particularly relevant for cross-border transactions and international trade financing. It details the tripartite relationship between the lender, borrower, and guarantor bank, specifying credit limits, interest calculations, drawdown procedures, and circumstances under which the guarantee can be called. The agreement ensures compliance with UK financial regulations while providing flexibility for commercial arrangements.
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1. Parties: Identification of the lender, borrower, and guarantor bank
2. Background: Context of the credit facility and purpose of the bank guarantee
3. Definitions: Key terms used throughout the agreement including regulatory references to FSMA 2000, Banking Act 2009, and other applicable legislation
4. Facility Terms: Credit limit, duration, interest rates, and repayment terms
5. Bank Guarantee Provisions: Terms of the bank guarantee, including form, amount, and validity
6. Conditions Precedent: Prerequisites for facility activation including regulatory compliance requirements
7. Representations and Warranties: Statements of fact by the borrower including regulatory compliance confirmations
8. Events of Default: Circumstances triggering default and remedies
1. Security Provisions: Additional security arrangements beyond the bank guarantee - used when additional collateral is required
2. Syndication Provisions: Terms for multiple lenders - included for syndicated facilities
3. Currency Provisions: Terms for multi-currency facilities - included when facility involves multiple currencies
1. Form of Bank Guarantee: Template of the bank guarantee to be issued
2. Conditions Precedent Documents: List of required documents prior to facility activation
3. Facility Fee Schedule: Detailed breakdown of fees and charges
4. Drawdown Notice: Template for requesting facility utilization
5. Compliance Certificate: Template for periodic compliance reporting
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