The Line of Credit Contract is essential for businesses and individuals seeking flexible financing options under Belgian law. This document establishes a revolving credit facility where the borrower can repeatedly draw down funds up to a predetermined limit, repay, and reborrow during the facility's term. It's commonly used for working capital management, project financing, or ongoing operational needs. The agreement must comply with Belgian financial regulations, including the Code of Economic Law and banking regulations, particularly regarding interest rate calculations, consumer protection (if applicable), and security arrangements. The document typically includes detailed provisions for facility mechanics, conditions precedent, representations, covenants, and events of default, all structured to meet Belgian legal requirements and market practices.
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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 credit facility and purpose of the agreement
3. Definitions and Interpretation: Defined terms used throughout the agreement and rules of interpretation
4. The Facility: Details of the credit line including amount, purpose, and availability period
5. Interest and Fees: Interest calculation method, applicable rates, fees, and charges
6. Drawdown Mechanics: Procedures and conditions for requesting and making drawdowns
7. Repayment Terms: Terms for repayment, including minimum payments and final maturity
8. Representations and Warranties: Statements of fact and assurances given by the borrower
9. Borrower Covenants: Ongoing obligations of the borrower during the life of the facility
10. Events of Default: Circumstances that constitute default and their consequences
11. Changes to Parties: Rules regarding assignment and transfer of rights and obligations
12. Payments and Calculations: Payment mechanics, business day conventions, and calculation rules
13. Notices: Communication methods and contact details for formal notices
14. General Provisions: Miscellaneous legal provisions including governing law and jurisdiction
1. Security Arrangements: Required when the facility is secured by collateral or guarantees
2. Consumer Protection Provisions: Required when the borrower is a consumer, including mandatory Belgian consumer credit protections
3. Syndication Provisions: Required for facilities with multiple lenders or potential syndication
4. Tax Gross-Up and Indemnities: Detailed tax provisions for complex corporate arrangements
5. Increased Costs and Market Disruption: Provisions dealing with changes in regulatory requirements or market conditions
6. Set-off Rights: Detailed set-off provisions for use with institutional borrowers
7. Data Protection: Detailed GDPR compliance provisions when personal data processing is extensive
1. Conditions Precedent: List of documents and conditions required before first drawdown
2. Form of Drawdown Request: Standard form for requesting drawdowns under the facility
3. Calculation of Interest and Fees: Detailed methodology for calculating interest and fees
4. Form of Transfer Certificate: Standard form for transferring rights and obligations
5. Security Documents: Details of any security arrangements and related documentation
6. Repayment Schedule: If applicable, schedule of minimum repayment amounts and dates
7. Contact Details: List of authorized contacts and their details for both parties
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Corporate Finance
Real Estate
Manufacturing
Retail
Construction
Technology
Healthcare
Professional Services
Energy
Transportation and Logistics
Agriculture
Relevant Teams
Legal
Finance
Treasury
Credit Risk
Compliance
Corporate Banking
Operations
Risk Management
Commercial Banking
Credit Administration
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Credit Manager
Relationship Manager
Legal Counsel
Compliance Officer
Risk Manager
Corporate Banking Officer
Credit Analyst
Financial Controller
Account Manager
Corporate Treasurer
Banking Operations Manager
Credit Risk Officer
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