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Bank Credit Agreement

Bank Credit Agreement Template for Australia

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Key Requirements PROMPT example:

Bank Credit Agreement

"I need a Bank Credit Agreement for a secured facility of AUD 5 million to be provided to our manufacturing company, with quarterly repayments over 5 years and personal guarantees from two directors, compliant with Australian law."

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Document background
The Bank Credit Agreement serves as the primary documentation for credit facilities provided by banks to commercial borrowers in Australia. It is used when a business seeks debt financing and requires a formal agreement that complies with Australian banking regulations, including the National Consumer Credit Protection Act 2009 and Banking Act 1959. The agreement comprehensively covers facility terms, security arrangements, financial covenants, and regulatory requirements, while incorporating necessary provisions for Australian prudential standards and reporting obligations. This document is essential for both secured and unsecured lending transactions, providing legal certainty and protection for all parties while ensuring compliance with Australian financial services laws and regulations.
Suggested Sections

1. Parties: Identification of the lender (bank) and borrower(s), including ABN/ACN and addresses

2. Background: Context of the credit facility, purpose, and relationship between parties

3. Definitions and Interpretation: Key terms, interpretation rules, and calculation conventions

4. The Facility: Core terms including facility type, amount, purpose, and availability period

5. Interest and Fees: Interest calculation, payment periods, default interest, and all applicable fees

6. Drawdown: Conditions precedent, drawdown mechanics, and notice requirements

7. Repayment and Prepayment: Repayment schedule, prepayment terms, and payment mechanics

8. Representations and Warranties: Standard and specific representations by the borrower

9. General Undertakings: Ongoing obligations of the borrower during the facility term

10. Financial Covenants: Financial metrics and ratios the borrower must maintain

11. Events of Default: Circumstances constituting default and consequences

12. Changes to Parties: Assignment and transfer provisions

13. Administration: Notices, calculations, and general administrative provisions

14. Governing Law and Enforcement: Jurisdiction, dispute resolution, and enforcement provisions

Optional Sections

1. Security: Required if the facility is secured - details of security arrangements and enforcement rights

2. Guarantee: Required if there are guarantors - terms of guarantee and guarantor obligations

3. Multiple Drawings and Tranches: Required for facilities with multiple tranches or complex drawing mechanisms

4. Market Disruption: Required for facilities with variable rates - provisions for market disruption events

5. Increased Costs and Tax: Optional provisions for passing on regulatory costs and tax changes

6. Anti-Money Laundering: Detailed AML/CTF provisions if not covered in general undertakings

7. Environmental and Social Requirements: Required for facilities with specific environmental or social obligations

8. Special Industry Terms: Required for specific industry sectors (e.g., construction, agriculture)

Suggested Schedules

1. Facility Details: Detailed facility terms, limits, and pricing

2. Conditions Precedent: List of required documents and conditions for drawdown

3. Form of Drawdown Notice: Template for drawdown requests

4. Calculation of Financial Covenants: Detailed methodology for calculating financial covenants

5. Security Details: List and details of security assets and documents

6. Permitted Security Interests: List of pre-approved security interests

7. Form of Compliance Certificate: Template for periodic compliance reporting

8. Repayment Schedule: Detailed repayment dates and amounts

9. Fee Schedule: Detailed breakdown of all applicable fees

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



































































Clauses








































Relevant Industries

Banking and Financial Services

Real Estate

Manufacturing

Retail

Agriculture

Mining and Resources

Construction

Healthcare

Technology

Transport and Logistics

Education

Professional Services

Hospitality

Energy and Utilities

Relevant Teams

Legal

Finance

Treasury

Credit

Risk Management

Compliance

Corporate Banking

Commercial Banking

Operations

Client Relations

Document Management

Corporate Advisory

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Financial Controller

Credit Manager

Risk Manager

Legal Counsel

Company Secretary

Relationship Manager

Credit Analyst

Compliance Officer

Banking Executive

Corporate Finance Manager

Account Manager

Business Development Manager

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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