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Development Funding Agreement
"I need a Development Funding Agreement for a $50M mixed-use development project in Melbourne, with multiple funders and staged drawdown requirements, including specific provisions for retail and residential components."
1. Parties: Identifies all parties to the agreement including the funder(s) and developer
2. Background: Contextual information about the development project and funding arrangement
3. Definitions and Interpretation: Defines key terms and sets out interpretation principles
4. Funding Terms: Details of the funding amount, drawdown conditions, and repayment terms
5. Development Project Scope: Detailed description of the development project and its objectives
6. Conditions Precedent: Conditions that must be satisfied before funding becomes available
7. Drawdown Mechanics: Processes and requirements for accessing the funding
8. Developer Obligations: Key obligations, warranties, and undertakings of the developer
9. Project Milestones: Key development milestones and timeline requirements
10. Reporting Requirements: Financial and project progress reporting obligations
11. Events of Default: Circumstances constituting default and their consequences
12. Termination: Termination rights and processes
13. Dispute Resolution: Procedures for resolving disputes between parties
14. General Provisions: Standard boilerplate clauses including notices, governing law, and assignment
1. Security Arrangements: Required when the funding is secured against assets or requires guarantees
2. Multiple Funder Provisions: Required when there are multiple funders to address priority and voting rights
3. Cost Overrun Provisions: Required when specific arrangements for handling cost overruns are needed
4. Environmental Obligations: Required for developments with significant environmental considerations
5. Interface Provisions: Required when the development interfaces with other projects or infrastructure
6. Indigenous Land Use Provisions: Required when the development affects indigenous lands or requires native title considerations
7. Foreign Investment Provisions: Required when foreign investment approval is needed
8. Step-in Rights: Required when the funder needs the right to take control of the project in certain circumstances
1. Project Details: Detailed description of the development project including plans and specifications
2. Development Budget: Detailed project budget and cost breakdown
3. Drawdown Schedule: Detailed schedule of funding availability and drawdown requirements
4. Form of Drawdown Notice: Template for drawdown requests
5. Security Documents: Forms of security documents and guarantees
6. Project Timeline: Detailed project schedule and milestone dates
7. Reporting Templates: Templates for required financial and progress reports
8. Key Personnel: List of key project personnel and their roles
9. Required Approvals: List of required permits, licenses, and approvals
10. Form of Progress Certificate: Template for certifying completion of project milestones
Authors
Real Estate
Construction
Infrastructure
Commercial Property
Residential Development
Industrial Development
Retail Development
Mixed-Use Development
Healthcare Facilities
Education Facilities
Hospitality
Renewable Energy
Legal
Finance
Development
Construction
Risk and Compliance
Treasury
Investment
Commercial
Project Management
Property
Chief Financial Officer
Development Director
Project Director
Legal Counsel
Finance Manager
Development Manager
Construction Manager
Risk Manager
Investment Manager
Commercial Director
Project Finance Manager
Property Director
Compliance Officer
Treasury Manager
Fund Manager
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