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Business Credit Agreement
1. Parties: Identification of the lender and borrower with full legal names, registration numbers, and addresses
2. Background: Context of the credit arrangement and purpose of the facility
3. Definitions: Definitions of key terms used throughout the agreement
4. The Credit Facility: Details of the credit amount, type of facility, and purpose
5. Conditions Precedent: Conditions that must be satisfied before the credit facility becomes available
6. Interest and Fees: Interest rate calculations, payment schedules, and applicable fees
7. Repayment Terms: Repayment schedule, methods, and prepayment provisions
8. Representations and Warranties: Statements of fact and assurances given by the borrower
9. Covenants: Positive and negative obligations of the borrower during the term of the facility
10. Events of Default: Circumstances constituting default and consequences
11. Security: Basic security arrangements and guarantees
12. Notices: Communication requirements and contact details
13. Governing Law and Jurisdiction: Confirmation of Danish law application and jurisdiction
14. Signatures: Execution blocks for all parties
1. Accordion Facility: Optional section for when the facility includes the possibility of increasing the credit limit under specified conditions
2. Multiple Borrowers: Additional provisions when there are multiple borrowers or a group structure
3. Currency Provisions: Required when the facility involves multiple currencies
4. Syndication Provisions: Needed when the facility may be syndicated to multiple lenders
5. Subordination Terms: Required when there are multiple creditors with different priorities
6. Tax Gross-Up: Provisions for tax implications and withholding requirements
7. Market Disruption: Provisions dealing with significant market changes affecting interest rates
8. Force Majeure: Specific provisions for handling unforeseen circumstances
1. Schedule 1 - Conditions Precedent Documents: List of required documents and conditions to be satisfied before drawdown
2. Schedule 2 - Form of Drawdown Notice: Template for requesting utilization of the credit facility
3. Schedule 3 - Calculation of Interest: Detailed methodology for interest calculations and examples
4. Schedule 4 - Repayment Schedule: Detailed amortization or repayment schedule if applicable
5. Schedule 5 - Security Documents: List and copies of all security documents
6. Schedule 6 - Financial Covenants: Detailed financial ratios and calculations
7. Appendix A - Compliance Certificate: Template for periodic compliance certification
8. Appendix B - Fee Schedule: Detailed breakdown of all applicable fees
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