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The Available Amount Credit Agreement is a fundamental financing document used in Irish lending transactions where a lender provides a borrower with access to a revolving credit facility up to a predetermined limit. This type of agreement is particularly useful for businesses requiring flexible access to funding for working capital, general corporate purposes, or specific project financing. The document incorporates requirements from Irish financial regulations, consumer protection laws, and EU directives, making it suitable for both corporate and consumer lending scenarios. It includes detailed provisions on facility usage, interest calculations, repayment mechanisms, and security arrangements, while ensuring compliance with Irish banking regulations and the Consumer Credit Act 1995. The agreement is structured to provide clarity on drawdown conditions, ongoing obligations, and default scenarios, making it a crucial tool for managing credit relationships in the Irish market.

1. Parties: Identification of the lender and borrower, including full legal names, registration details, and addresses

2. Background: Context of the agreement, including the purpose of the credit facility and any relevant pre-existing relationships

3. Definitions: Detailed definitions of terms used throughout the agreement, including financial terms, calculation methods, and relevant dates

4. The Facility: Details of the credit facility, including the available amount, purpose, and conditions for drawdown

5. Interest: Interest rate provisions, calculation methods, payment periods, and default interest

6. Repayment: Terms for repayment, including payment schedule, prepayment provisions, and consequences of default

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

8. Representations and Warranties: Statements of fact and assurances given by the borrower

9. Covenants: Ongoing obligations of the borrower, including financial covenants and information requirements

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

11. Security: Details of any security arrangements securing the facility

12. Changes to Parties: Provisions regarding assignment and transfer rights

13. Administration: Operational aspects including calculations, notices, and payment mechanics

14. Governing Law and Jurisdiction: Choice of law and jurisdiction provisions