The Pro Forma Loan Agreement serves as a standardized template for lending transactions in India, designed to comply with Indian banking laws, RBI guidelines, and the Indian Contract Act, 1872. This document is typically used when establishing a formal lending relationship between financial institutions and borrowers, whether corporate entities or individuals. It contains all essential provisions required under Indian law, including loan terms, security arrangements, representations and warranties, covenants, and events of default. The agreement can be customized based on specific transaction requirements while maintaining compliance with regulatory requirements. It's particularly useful for banks, NBFCs, and other financial institutions that regularly engage in lending activities within India, providing a consistent and legally compliant framework for loan documentation.
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1. Parties: Identifies and provides full details of the lender and borrower, including registration numbers, registered addresses, and authorized representatives
2. Background: Sets out the context of the loan agreement, including the borrower's request for the loan and the lender's agreement to provide it
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules of interpretation
4. Loan Amount and Purpose: Specifies the principal amount of the loan and its intended use
5. Interest Rate and Calculations: Details the applicable interest rate(s), calculation method, and payment frequency
6. Drawdown and Disbursement: Specifies the conditions and procedure for disbursement of the loan amount
7. Repayment Terms: Sets out the repayment schedule, installment amounts, and payment mechanisms
8. Representations and Warranties: Contains standard representations and warranties from the borrower regarding their legal status, capacity, and financial condition
9. Borrower's Covenants: Lists positive and negative covenants that the borrower must comply with during the loan term
10. Events of Default: Defines circumstances that constitute default and their consequences
11. Rights and Remedies: Outlines the lender's rights and remedies in case of default
12. Notices: Specifies how formal communications between parties should be made
13. Governing Law and Jurisdiction: Establishes Indian law as governing law and specifies jurisdiction for dispute resolution
14. Miscellaneous: Contains standard boilerplate provisions including amendments, waivers, and severability
1. Security: Required when the loan is secured by any assets or guarantees
2. Guarantor Provisions: Necessary when a third party is guaranteeing the loan
3. Insurance: Required when specific insurance coverage is mandatory for the loan or secured assets
4. Conditions Subsequent: Used when certain conditions must be fulfilled after loan disbursement
5. Prepayment Provisions: Details early repayment terms when prepayment is allowed
6. Assignment and Transfer: Required when either party needs the right to assign or transfer their rights/obligations
7. Cross Default: Included when default under other agreements should trigger default under this loan
8. Financial Covenants: Required for corporate borrowers when specific financial metrics must be maintained
9. Tax Provisions: Detailed tax clauses when tax implications need specific addressing
1. Schedule 1 - Definitions: Detailed list of defined terms used in the agreement
2. Schedule 2 - Conditions Precedent: List of documents and conditions required before loan disbursement
3. Schedule 3 - Repayment Schedule: Detailed amortization schedule showing payment dates and amounts
4. Schedule 4 - Security Details: Description of security/collateral if the loan is secured
5. Schedule 5 - Form of Drawdown Notice: Template for borrower to request loan disbursement
6. Schedule 6 - Contact Details: Detailed contact information for all parties
7. Appendix A - Compliance Certificate: Template for periodic compliance certification by borrower
8. Appendix B - Know Your Customer Requirements: List of required KYC documents and information
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Real Estate
Manufacturing
Information Technology
Retail
Healthcare
Infrastructure
Agriculture
Education
Small and Medium Enterprises
Construction
Telecommunications
Relevant Teams
Legal
Finance
Compliance
Risk Management
Treasury
Corporate Banking
Credit Analysis
Operations
Business Development
Company Secretarial
Documentation
Relevant Roles
Chief Financial Officer
Finance Manager
Legal Counsel
Compliance Officer
Credit Manager
Risk Manager
Corporate Lawyer
Banking Relationship Manager
Treasury Manager
Company Secretary
Loan Officer
Financial Analyst
Business Development Manager
Account Manager
Corporate Banking Officer
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