The Intercompany Credit Agreement is a essential legal document used to formalize lending arrangements between related entities within a corporate group in Australia. It is particularly relevant when one group company needs to provide financing to another for various business purposes such as working capital, expansion, or project funding. The agreement must comply with Australian regulatory requirements, including the Corporations Act 2001 (Cth), tax legislation, and corporate governance standards. It typically includes detailed terms about the credit facility, interest calculations, repayment provisions, and security arrangements. This document is crucial for maintaining proper corporate governance, ensuring tax efficiency, and creating a clear audit trail for intercompany financing transactions. It's commonly used by multinational corporations, domestic corporate groups, and businesses with subsidiary structures operating in Australia.
Intercompany Credit Agreement Template for Australia
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Key Requirements PROMPT example:
Intercompany Credit Agreement
"I need an Intercompany Credit Agreement for a $5M revolving facility between our Australian parent company MineCorp Pty Ltd and its subsidiary TechOps Pty Ltd, with quarterly interest payments and a 5-year term ending March 2025."
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1. Parties: Identification of the lender and borrower companies, including ACN/ABN and registered addresses
2. Background: Context of the intercompany arrangement, relationship between the parties, and purpose of the loan
3. Definitions and Interpretation: Key terms used throughout the agreement and rules for interpretation
4. The Facility: Details of the credit facility, including type, purpose, and total amount available
5. Drawdown: Conditions and process for requesting and receiving loan amounts
6. Interest: Interest rate, calculation method, and payment terms
7. Repayment: Terms for repayment of principal and interest, including scheduled payments or on-demand provisions
8. Representations and Warranties: Standard corporate representations and specific financial condition warranties
9. Events of Default: Circumstances constituting default and consequences
10. General Provisions: Standard boilerplate clauses including notices, amendments, and governing law
1. Security: Security arrangements if the loan is to be secured - include when security is required
2. Subordination: Terms for subordinating the loan to external debt - include when there are external lenders
3. Tax Provisions: Detailed tax implications and requirements - include for cross-border arrangements
4. Financial Covenants: Financial maintenance requirements - include for larger or more formal arrangements
5. Group Company Provisions: Special terms for group company relationships - include for complex corporate structures
6. Currency and Exchange Rate: Currency conversion terms - include for multi-currency facilities
7. Assignment and Transfer: Terms for transferring the loan - include when transfer rights are needed
1. Facility Details: Detailed terms of the facility including amounts, interest rates, and payment dates
2. Drawdown Notice: Form of notice for requesting drawdown under the facility
3. Repayment Schedule: Detailed schedule of repayment dates and amounts if not on-demand
4. Interest Rate Calculation: Detailed methodology for calculating interest, including any benchmark rates
5. Compliance Certificate: Form of certificate for confirming compliance with agreement terms
6. Security Details: Description of any security provided (if applicable)
7. Transfer Certificate: Form for documenting any permitted transfers of the loan
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Manufacturing
Mining and Resources
Retail
Healthcare
Technology
Real Estate
Construction
Professional Services
Energy
Agriculture
Transportation and Logistics
Relevant Teams
Legal
Finance
Treasury
Tax
Compliance
Risk Management
Corporate Governance
Accounting
Company Secretariat
Corporate Development
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Corporate Counsel
Legal Counsel
Company Secretary
Financial Controller
Tax Director
Group Accountant
Corporate Finance Manager
Compliance Officer
Risk Manager
Board Director
Managing Director
Chief Executive Officer
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