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The Credit Loan Agreement is a fundamental document used in Saudi Arabian financial transactions to formalize lending arrangements between financial institutions and borrowers. This agreement must strictly comply with both Shariah principles and Saudi Arabian banking regulations, particularly those issued by the Saudi Central Bank (SAMA). The document is essential for any financing transaction, whether for personal, commercial, or corporate purposes, and includes detailed provisions on the financing structure, profit calculation methods (avoiding conventional interest), security arrangements, and regulatory compliance requirements. It serves as the primary contractual document defining the rights, obligations, and remedies of all parties involved in the financing arrangement, while ensuring adherence to Islamic banking principles and local regulatory requirements.

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

2. Background: Context of the loan agreement, purpose of the facility, and confirmation of Sharia compliance

3. Definitions: Definitions of key terms used throughout the agreement, including banking and Islamic finance terminology

4. Facility Details: Specific details of the credit facility including principal amount, term, and purpose

5. Profit Rate and Calculations: Sharia-compliant profit calculation methodology, rates, and payment structure

6. Disbursement Terms: Conditions and procedures for disbursement of the loan amount

7. Repayment Terms: Schedule and methods of repayment, including early repayment provisions

8. Security and Guarantees: Details of any collateral, guarantees, or security provided for the loan

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

10. Borrower Covenants: Positive and negative obligations of the borrower during the loan term

11. Events of Default: Circumstances constituting default and consequences thereof

12. Fees and Expenses: Administrative fees, costs, and expenses related to the facility

13. Notices: Communication procedures between parties

14. Governing Law and Jurisdiction: Confirmation of Saudi law application and jurisdiction for disputes

15. Execution: Signature blocks and execution formalities