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Standby Credit Agreement

Standby Credit Agreement Template for England and Wales

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Key Requirements PROMPT example:

Standby Credit Agreement

"Need a Standby Credit Agreement for our UK manufacturing company to secure a £5 million facility from HSBC Bank, with quarterly interest payments and a maturity date of March 2025, including specific provisions for early prepayment without penalties."

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Document background
The Standby Credit Agreement is a crucial financial instrument in commercial transactions under English and Welsh law. It provides a reliable mechanism for securing financial obligations and managing commercial risk. This document type is particularly valuable in international trade, project finance, and performance guarantee contexts. The agreement details the credit facility's terms, conditions precedent, drawing mechanisms, and event triggers. Its structure follows established banking practices while ensuring compliance with UK financial regulations, including FSMA 2000 and FCA requirements. The document is essential for businesses seeking financial security without immediate cash deployment.
Suggested Sections

1. Parties: Identification and details of the credit provider and beneficiary

2. Background: Context and purpose of the standby credit arrangement

3. Definitions: Key terms used throughout the agreement including regulatory references to FSMA 2000 and other applicable legislation

4. Credit Facility Terms: Amount, currency, and nature of the credit facility

5. Conditions Precedent: Conditions that must be satisfied before the facility becomes available

6. Drawing Mechanics: Process and requirements for drawing on the credit facility

7. Fees and Costs: All applicable fees, charges, and costs

8. Representations and Warranties: Standard declarations by the parties

9. Events of Default: Circumstances that trigger default and consequences

10. Governing Law and Jurisdiction: Confirmation of applicable law and courts (England and Wales)

Optional Sections

1. Security: Details of any security or collateral - include when the facility is secured

2. Tax Provisions: Detailed tax implications and responsibilities - include for complex tax arrangements

3. Syndication Provisions: Terms for multiple lenders - include when facility involves multiple lenders

4. Consumer Protection Provisions: Additional protections required under Consumer Credit Act 1974 - include when the borrower is a consumer

Suggested Schedules

1. Schedule 1 - Form of Drawing Notice: Template for requesting drawings under the facility

2. Schedule 2 - Conditions Precedent Documents: List of required documentation

3. Schedule 3 - Fee Schedule: Detailed breakdown of all fees

4. Schedule 4 - Security Documents: Forms of security documentation if applicable

5. Schedule 5 - Regulatory Compliance Requirements: Detailed requirements under FSMA 2000 and other applicable regulations

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 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


































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Relevant Industries
Relevant Teams
Relevant Roles
Industries

Financial Services and Markets Act 2000: Primary legislation that regulates financial services and markets in the UK, establishes the regulatory framework and defines authorized activities

Consumer Credit Act 1974: Regulates credit agreements and provides consumer protections when the agreement involves consumers

Unfair Contract Terms Act 1977: Controls unfair terms in contracts, particularly applying to business-to-business contracts

Consumer Rights Act 2015: Governs unfair terms in consumer contracts and provides additional consumer protections for consumer-related credit agreements

FCA Regulations: Financial Conduct Authority regulations governing credit-related regulated activities and conduct of business rules

PRA Requirements: Prudential Regulation Authority requirements covering capital adequacy and risk management standards for financial institutions

Basel III Framework: International banking standards framework establishing capital requirements and banking standards

UK Sanctions Regulations: Regulations ensuring compliance with international sanctions and anti-money laundering provisions

English Common Law: Body of relevant case law and contractual principles from precedent cases relating to credit agreements

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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