The Business Finance Agreement is a crucial document used in the Philippine business lending landscape when a company seeks financial facilities from a bank or financial institution. It serves as the primary contract governing the lending relationship, detailing everything from facility terms to security arrangements. This agreement is essential for businesses seeking working capital, expansion financing, or asset acquisition funding. The document must comply with Philippine banking regulations, including the New Central Bank Act and Truth in Lending Act, while incorporating necessary protections for all parties. It's particularly important in structured financing transactions where clear documentation of terms, conditions, and security arrangements is crucial for risk management and regulatory compliance. The agreement typically includes comprehensive provisions for drawdown procedures, repayment terms, financial covenants, and events of default, tailored to meet both the lender's risk requirements and the borrower's business needs.
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1. Parties: Identification of the lender, borrower, and any other primary parties to the agreement
2. Background: Context of the financing arrangement and purpose of the facility
3. Definitions: Definitions of key terms used throughout the agreement
4. Facility Details: Description of the financing facility, amount, purpose, and availability period
5. Conditions Precedent: Conditions that must be satisfied before the facility becomes available
6. Drawdown Mechanics: Procedures and requirements for drawing down the facility
7. Interest and Fees: Interest rates, calculation methods, and applicable fees
8. Repayment Terms: Repayment schedule, payment mechanics, and prepayment provisions
9. Security Arrangements: Details of any security or collateral provided for the facility
10. Representations and Warranties: Statements of fact and assurances given by the borrower
11. Covenants: Positive and negative obligations of the borrower during the facility period
12. Events of Default: Circumstances constituting default and consequences
13. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction details
1. Guarantees: Terms of any guarantees provided - include when there are third-party guarantors
2. Multiple Facilities: Additional terms for multiple facility types - include when offering different types of financing facilities
3. Security Trustee Provisions: Terms relating to security trustee - include in syndicated facilities
4. Insurance Requirements: Specific insurance obligations - include when security includes physical assets
5. Assignment and Transfer: Terms for transferring rights under the agreement - include for transferable facilities
6. Increased Costs and Tax Provisions: Provisions for dealing with regulatory changes - include for longer-term facilities
1. Schedule 1 - Facility Terms: Detailed terms of the facility including amounts, interest rates, and fees
2. Schedule 2 - Conditions Precedent Documents: List of required documents and conditions to be satisfied
3. Schedule 3 - Drawdown Request Form: Standard form for requesting drawdown of the facility
4. Schedule 4 - Repayment Schedule: Detailed amortization or repayment schedule
5. Schedule 5 - Security Details: Detailed description of security assets and perfection requirements
6. Appendix A - Compliance Certificate: Form of certificate for periodic compliance confirmation
7. Appendix B - Financial Covenants Calculations: Format and methodology for calculating financial covenants
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Manufacturing
Real Estate & Construction
Retail & Consumer Goods
Technology & Communications
Agriculture & Food Processing
Transportation & Logistics
Healthcare & Pharmaceuticals
Energy & Utilities
Professional Services
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Banking
Credit Administration
Business Development
Operations
Corporate Secretariat
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Corporate Lawyer
Legal Counsel
Risk Manager
Credit Manager
Relationship Manager
Compliance Officer
Corporate Secretary
Financial Controller
Business Development Manager
Account Manager
Senior Loan Officer
Corporate Banking Manager
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