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Revolving Credit Agreement
"I need a Revolving Credit Agreement governed by UAE law for a USD 50 million secured facility between Emirates Bank as lender and Dubai Trading LLC as borrower, with drawdown availability starting March 2025."
1. Parties: Identification of the lender(s), borrower(s), and any guarantors or security providers
2. Background: Context of the agreement and brief description of the revolving credit facility
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules of interpretation
4. The Facility: Core terms of the revolving credit facility including amount, purpose, and revolving nature
5. Conditions Precedent: Documents and conditions required before initial utilization and subsequent drawdowns
6. Utilization: Procedures and requirements for drawing down the facility, including notice requirements
7. Repayment and Prepayment: Terms for repayment, prepayment rights and obligations, and reborrowing provisions
8. Interest and Fees: Interest calculation, payment periods, default interest, and all applicable fees
9. Tax Provisions: Tax obligations, gross-up provisions, and VAT considerations
10. Representations and Warranties: Standard and facility-specific representations and warranties by the borrower
11. Information Undertakings: Borrower's obligations to provide financial and other information
12. General Undertakings: Positive and negative covenants applicable to the borrower
13. Events of Default: Circumstances constituting default and consequences thereof
14. Changes to Parties: Rules regarding assignment, transfer, and participation
15. Administration: Payment mechanics, calculations, and notices
16. Governing Law and Enforcement: Choice of UAE law and enforcement provisions
1. Security: Required if the facility is secured, detailing the security structure and enforcement rights
2. Guarantees: Required if there are guarantors, detailing guarantee terms and obligations
3. Shariah Compliance: Required if the facility needs to be Shariah-compliant, including relevant structuring provisions
4. Multiple Lenders: Required for syndicated facilities, including majority voting and administrative agent provisions
5. Currency Provisions: Required if multiple currencies are permitted under the facility
6. Increased Costs and Market Disruption: Optional provisions for managing market disruption events and increased costs
7. Set-off Rights: Optional detailed set-off provisions beyond standard rights
8. Anti-corruption and Sanctions: Optional detailed compliance provisions beyond standard undertakings
1. Conditions Precedent: Detailed list of required documents and conditions
2. Form of Utilization Request: Standard form for drawdown requests
3. Form of Compliance Certificate: Template for periodic compliance certification
4. Repayment Schedule: If applicable, schedule of repayment dates and amounts
5. Financial Covenants: Detailed financial covenants calculations and requirements
6. Form of Transfer Certificate: Standard form for transfers between lenders
7. Security Documents: List and/or copies of security documents if facility is secured
8. Existing Security and Financial Indebtedness: Details of permitted existing security and debt
9. Form of Accession Deed: Required for additional borrowers or guarantors joining the facility
Authors
Banking and Financial Services
Corporate Finance
Real Estate
Manufacturing
Retail
Healthcare
Technology
Construction
Energy
Infrastructure
Telecommunications
Hospitality
Trading and Distribution
Industrial
Transportation and Logistics
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Banking
Credit
Operations
Commercial
Corporate Finance
Company Secretarial
Banking Operations
Business Development
Chief Financial Officer
Finance Director
Treasury Manager
Corporate Finance Manager
Legal Counsel
General Counsel
Relationship Manager
Credit Officer
Risk Manager
Compliance Officer
Corporate Banking Manager
Finance Manager
Commercial Director
Chief Executive Officer
Company Secretary
Financial Controller
Credit Risk Manager
Transaction Manager
Banking Operations Manager
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