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The Borrowing Agreement serves as a fundamental legal instrument in Hong Kong's financial landscape, essential for documenting and formalizing lending arrangements between parties. It is commonly used when an entity or individual requires funding and enters into a formal borrowing relationship with a lender, whether a financial institution or private lender. The agreement must comply with Hong Kong's legal framework, particularly the Money Lenders Ordinance (Cap. 163) and Interest Rates Ordinance (Cap. 49). This document typically includes comprehensive details about the loan facility, security arrangements, conditions for drawdown, repayment terms, events of default, and the parties' respective rights and obligations. It's crucial for protecting both lender and borrower interests while ensuring regulatory compliance in Hong Kong's jurisdiction.

1. Parties: Identifies and defines the Lender and Borrower with their full legal names and addresses

2. Background: Sets out the context of the loan and the parties' intention to enter into the borrowing arrangement

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules of interpretation

4. Loan Amount and Purpose: Specifies the principal amount of the loan and its intended use

5. Interest Rate and Calculations: Details the applicable interest rate, calculation method, and compliance with Interest Rate Ordinance

6. Drawdown: Specifies the conditions precedent and process for accessing the loan funds

7. Repayment Terms: Sets out the repayment schedule, payment methods, and early repayment provisions

8. Representations and Warranties: Contains standard declarations by the borrower about their capacity and financial condition

9. Borrower's Covenants: Lists the ongoing obligations of the borrower during the loan term

10. Events of Default: Defines circumstances that constitute default and the lender's rights upon default

11. Costs and Expenses: Allocates responsibility for fees, charges, and expenses related to the loan

12. Notices: Specifies how formal communications between parties should be made

13. General Provisions: Contains standard boilerplate clauses including governing law, assignment, and amendments

14. Execution: Signature blocks and execution formalities