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Project Finance Loan Agreement

Project Finance Loan Agreement Template for Canada

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Key Requirements PROMPT example:

Project Finance Loan Agreement

"I need a Project Finance Loan Agreement for a CAD 500M wind farm development in Ontario, with a syndicate of three Canadian banks as lenders, including specific provisions for renewable energy credits and construction phase monitoring, with financial close targeted for March 2025."

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Document background
The Project Finance Loan Agreement is a sophisticated financing document used in Canada when implementing large-scale projects that require substantial capital investment and are typically financed on a limited or non-recourse basis. This agreement is essential for projects where the loan is primarily secured by the project's assets and cash flows rather than the sponsor's balance sheet. It contains detailed provisions addressing project risks, security arrangements, conditions for drawdown, monitoring requirements, and covenants specific to the project's nature. The document must comply with both federal Canadian legislation (such as the Bank Act and Environmental Protection Act) and relevant provincial laws, particularly regarding security interests and property rights. It's commonly used for infrastructure development, energy projects, and other large-scale developments where project finance structures are appropriate.
Suggested Sections

1. Parties: Identification of the lender(s), borrower(s), and any guarantors or other key parties

2. Background: Context of the project financing, purpose of the loan, and brief project description

3. Definitions: Comprehensive definitions of terms used throughout the agreement

4. The Facility: Details of the loan facility, including amount, purpose, and availability period

5. Conditions Precedent: Conditions that must be satisfied before drawdown

6. Drawdown: Procedures and requirements for drawing down the loan

7. Interest and Fees: Interest calculation, payment dates, and applicable fees

8. Repayment and Prepayment: Terms for scheduled repayment and voluntary/mandatory prepayment

9. Representations and Warranties: Statements of fact and assurances given by the borrower

10. Information Covenants: Obligations to provide financial and project information

11. Financial Covenants: Financial ratios and tests to be maintained

12. General Undertakings: General obligations and restrictions on borrower's activities

13. Project Undertakings: Specific obligations related to the project

14. Events of Default: Circumstances constituting default and consequences

15. Security: Overview of security package and enforcement rights

16. Changes to Parties: Provisions for transfer, assignment, and syndication

17. Administration: Administrative provisions including calculations and payments

18. Notices: Communication procedures between parties

19. Governing Law and Jurisdiction: Choice of law and dispute resolution provisions

Optional Sections

1. Intercreditor Provisions: Required when multiple lenders or creditor classes are involved

2. Market Disruption: Provisions dealing with market disruption events, included for LIBOR/CDOR-based loans

3. Tax Gross-Up and Indemnities: Detailed tax provisions, included when cross-border elements exist

4. Increased Costs: Provisions for regulatory changes affecting lenders' costs, included for longer-term loans

5. Insurance: Detailed insurance requirements, included when project assets require specific coverage

6. Environmental Compliance: Detailed environmental provisions, included for projects with significant environmental impact

7. Government Approvals: Specific provisions regarding governmental permits and approvals, included for heavily regulated projects

8. Construction Provisions: Included when project involves significant construction phase

9. Account Management: Required when project involves complex cash flow management structures

Suggested Schedules

1. Conditions Precedent Documents: List of required documents and conditions for initial and subsequent drawdowns

2. Form of Drawdown Request: Template for borrower to request loan disbursements

3. Repayment Schedule: Detailed amortization schedule if applicable

4. Project Documents: List and copies of material project documents

5. Security Documents: List and copies of security documentation

6. Financial Model: Agreed base case financial model and sensitivity analyses

7. Construction Budget and Schedule: Detailed construction costs and timeline

8. Form of Reports: Templates for various required periodic reports

9. Insurance Requirements: Detailed insurance specifications and requirements

10. Form of Compliance Certificate: Template for periodic compliance certification

11. Technical Description of Project: Detailed technical specifications and requirements

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

13. Form of Transfer Certificate: Template for transfer of loan participations

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

Infrastructure

Energy

Mining

Real Estate Development

Transportation

Renewable Energy

Oil & Gas

Healthcare

Telecommunications

Utilities

Industrial Development

Waste Management

Power Generation

Relevant Teams

Legal

Finance

Treasury

Risk Management

Project Management

Compliance

Environmental

Technical

Operations

Credit

Commercial

Investment

Relevant Roles

Chief Financial Officer

Finance Director

Project Finance Manager

Legal Counsel

Project Manager

Risk Manager

Treasury Manager

Commercial Director

Investment Officer

Compliance Officer

Environmental Manager

Technical Director

Operations Director

Credit Risk Manager

Transaction 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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