��������Ƶ

The Syndicated Letter of Credit agreement is utilized when a transaction's size or risk profile necessitates the participation of multiple banks in providing letter of credit facilities. This document, governed by Belgian law, establishes the legal and operational framework for the syndicate's functioning, including commitment shares, voting rights, and administrative procedures. It incorporates key provisions from Belgian banking law, EU regulations, and international banking practices (particularly UCP 600), making it suitable for large-scale international trade, project finance, or infrastructure development. The agreement details the roles and responsibilities of the agent bank, participating banks, applicant, and beneficiary, while ensuring compliance with Belgian financial regulations and EU directives.

1. Parties: Identification of all parties: Issuing Bank (Agent), Participating Banks in syndicate, Applicant, and Beneficiary

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

3. Definitions: Definitions of terms used throughout the agreement, including banking, UCP 600, and Belgian law-specific terms

4. Facility Details: Amount, currency, availability period, and purpose of the Letter of Credit facility

5. Syndicate Structure: Participation shares, roles and responsibilities of syndicate members, voting rights

6. Agent Bank Provisions: Authority, duties, and limitations of the Agent Bank's role

7. Issuance Mechanics: Procedures for LC issuance, form requirements, and conditions precedent

8. Drawing Provisions: Terms and conditions for drawing under the LC, required documentation, examination standards

9. Fees and Costs: All fees, commissions, and costs applicable to the facility

10. Reimbursement Obligations: Terms for reimbursement of drawings, including payment mechanics and timing

11. Representations and Warranties: Standard and transaction-specific representations and warranties

12. Events of Default: Circumstances constituting default and consequences

13. Governing Law and Jurisdiction: Belgian law governance and jurisdiction provisions

14. Notices: Communication procedures between parties

15. Miscellaneous: Standard boilerplate provisions including severability, amendments, and counterparts