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The Facility Loan Agreement is a fundamental financing document used when a lender extends credit facilities to a borrower under Irish law. This agreement is essential for any significant lending arrangement in Ireland, whether for corporate financing, asset acquisition, working capital, or project development. The document comprehensively details all aspects of the lending relationship, including facility terms, conditions precedent, drawdown mechanics, repayment obligations, and security arrangements. It ensures compliance with Irish financial regulations and relevant EU directives while protecting both lender and borrower interests. The agreement is particularly crucial for structured financing transactions and typically requires careful consideration of sector-specific requirements, credit risk assessment, and security arrangements. The Facility Loan Agreement serves as the cornerstone document for the entire lending relationship, often accompanied by various security documents and supplementary agreements.

1. Parties: Identification of the lender, borrower, and any guarantors or security providers

2. Background: Context of the loan facility and purpose of the agreement

3. Definitions and Interpretation: Defined terms, rules of interpretation, and construction

4. The Facility: Details of the loan facility, including amount, purpose, and availability

5. Conditions Precedent: Conditions that must be satisfied before drawdown

6. Drawdown: Procedures and requirements for utilizing the facility

7. Interest: Interest rate, calculation methods, and payment provisions

8. Repayment and Prepayment: Terms for scheduled repayments and voluntary/mandatory prepayments

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

10. Information Undertakings: Obligations to provide financial and other information

11. Financial Covenants: Financial ratios and tests the borrower must maintain

12. General Undertakings: Positive and negative obligations of the borrower

13. Events of Default: Circumstances that allow the lender to cancel the facility and demand repayment

14. Changes to Parties: Provisions for transfer, assignment, and delegation

15. Payment Mechanics: Administrative provisions for making payments

16. Set-off: Rights of set-off and application of payments

17. Notices: Communication methods and contact details

18. Calculations and Certificates: Basis for calculations and evidential value of certificates

19. Miscellaneous: General legal provisions including partial invalidity, remedies, amendments

20. Governing Law and Enforcement: Choice of Irish law and jurisdiction provisions