The Drawdown Loan Agreement is a critical financing document used in the United Arab Emirates when a borrower requires flexible access to funds over time, rather than a single lump-sum loan. This agreement type is commonly used for project financing, construction funding, working capital facilities, or general corporate purposes where phased funding is appropriate. The document must comply with UAE Federal Law No. 5 of 1985 (Civil Code) and Federal Law No. 18 of 1993 (Commercial Code), along with Central Bank regulations. It includes detailed provisions for drawdown mechanics, conditions precedent for each drawdown, interest calculations (considering UAE usury laws), security arrangements, and enforcement mechanisms. The agreement can be structured to accommodate both conventional and Islamic finance principles, making it versatile for various financing needs in the UAE market.
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1. Parties: Identification of the lender(s) and borrower(s) with full legal names and addresses
2. Background: Context of the loan facility, relationship between parties, and purpose of the facility
3. Definitions and Interpretation: Comprehensive definitions of terms used and rules of interpretation
4. The Facility: Details of the loan amount, purpose, and facility type
5. Drawdown Conditions and Mechanics: Specific conditions precedent for drawdowns, notice requirements, and drawdown procedures
6. Interest and Fees: Interest calculation, payment periods, default interest, and associated fees
7. Repayment and Prepayment: Repayment schedule, prepayment terms, and related conditions
8. Representations and Warranties: Standard and transaction-specific representations by the borrower
9. Covenants: Positive and negative undertakings by the borrower
10. Events of Default: Circumstances constituting default and consequences
11. Changes to Parties: Assignment and transfer provisions
12. Administration: Operational aspects including calculations, notices, and payment mechanics
13. Governing Law and Jurisdiction: Choice of UAE law and jurisdiction provisions
14. Execution: Signature blocks and execution formalities
1. Security: Required if the loan is secured - details of security arrangements and enforcement
2. Guarantee: Required if there are guarantors to the facility
3. Islamic Finance Provisions: Required if the facility needs to be Shariah-compliant
4. Syndication Provisions: Required for syndicated facilities with multiple lenders
5. Agency Provisions: Required for syndicated facilities or where an agent is appointed
6. Currency Provisions: Required if the facility involves multiple currencies
7. Tax Provisions: Detailed tax provisions required if cross-border elements exist
8. Increased Costs and Market Disruption: Enhanced provisions required for sophisticated borrowers or syndicated facilities
1. Conditions Precedent: List of required documents and conditions for initial drawdown
2. Form of Drawdown Request: Template for borrower to request drawdowns
3. Repayment Schedule: Detailed amortization or repayment schedule if applicable
4. Form of Transfer Certificate: Template for transferring loan participations
5. Form of Compliance Certificate: Template for periodic compliance reporting
6. Security Documents: Forms of security documents if applicable
7. Fees Schedule: Detailed breakdown of all applicable fees
8. Contact Details: Administrative and notice details for all parties
Relevant legal definitions
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Relevant Industries
Banking
Financial Services
Real Estate
Construction
Manufacturing
Trading
Healthcare
Hospitality
Infrastructure
Energy
Technology
Telecommunications
Transportation
Retail
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Corporate Banking
Credit
Operations
Corporate Finance
Investment Banking
Company Secretarial
Senior Management
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Compliance Officer
Relationship Manager
Credit Officer
Risk Manager
Corporate Finance Manager
Investment Manager
Banking Operations Manager
Financial Controller
Company Secretary
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