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The Secured Loan Note is a fundamental document used in Saudi Arabian financing transactions where a lender provides funding to a borrower against specific security assets. This document is essential when establishing a secured lending relationship that complies with both Saudi Arabian law and Shariah principles. The Secured Loan Note includes comprehensive details about the loan facility, security arrangements, profit rate structure, payment terms, and enforcement mechanisms. It is particularly important in commercial financing where lenders require security over specific assets to support their financing. The document must comply with various Saudi Arabian regulations, including the Banking Control Law and Commercial Mortgage Law, while ensuring Shariah compliance through appropriate profit rate structures instead of conventional interest. This type of document is commonly used in corporate financing, project finance, and asset-based lending scenarios where security is a key requirement for the financing arrangement.

1. Parties: Identification of the Lender and Borrower with full legal names and addresses

2. Background: Context of the loan arrangement and confirmation of Shariah compliance

3. Definitions and Interpretation: Key terms used in the document and interpretation rules

4. Facility Amount and Purpose: Amount of the loan and its permitted uses

5. Profit Rate and Payment Terms: Shariah-compliant profit rate structure and payment obligations

6. Security: Description of security assets and creation of security interest

7. Conditions Precedent: Requirements to be met before loan disbursement

8. Representations and Warranties: Borrower's confirmations regarding its status and capacity

9. Covenants: Ongoing obligations of the Borrower during the loan term

10. Events of Default: Circumstances triggering default and enforcement rights

11. Enforcement: Rights and procedures following an Event of Default

12. Costs and Expenses: Allocation of costs related to the loan and security

13. Notices: Communication procedures between parties

14. Governing Law and Jurisdiction: Application of Saudi law and dispute resolution