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Agreement For Loan Against Property
"I need an Agreement For Loan Against Property under Qatar law for a commercial property in Doha, with a loan value of QAR 5 million and Islamic finance compliance requirements, to be executed by March 2025."
1. Parties: Identification of the Lender and Borrower with full legal names and addresses
2. Background: Context of the loan agreement, including brief description of the property and purpose of the loan
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Amount and Purpose: Specification of the loan amount, purpose, and disbursement terms
5. Property Details: Detailed description of the property being offered as security
6. Security Creation: Terms creating the security interest over the property
7. Interest and Fees: Details of interest rate (or profit rate for Islamic financing), calculation method, and applicable fees
8. Repayment Terms: Schedule of repayments, payment methods, and prepayment provisions
9. Borrower's Representations: Warranties and representations regarding property ownership, condition, and authority to enter agreement
10. Borrower's Covenants: Ongoing obligations regarding property maintenance, insurance, and loan compliance
11. Events of Default: Circumstances constituting default and consequences thereof
12. Enforcement Rights: Lender's rights and remedies upon default
13. Notices: Communication procedures between parties
14. Governing Law and Jurisdiction: Specification of Qatar law and courts' jurisdiction
1. Islamic Finance Provisions: Required if the loan is structured as Islamic financing, including Murabaha or Ijara provisions
2. Guarantees: Include if there are third-party guarantors for the loan
3. Insurance Requirements: Detailed insurance obligations if not covered in covenants section
4. Property Valuation: Include if specific valuation mechanisms need to be detailed
5. Assignment and Transfer: Include if the lender wishes to reserve right to assign the loan
6. Force Majeure: Include if specific force majeure provisions are required beyond standard law
7. Co-Borrower Provisions: Required if there are multiple borrowers
8. Cross-Default: Include if cross-default with other facilities needs to be addressed
1. Property Description Schedule: Detailed legal description of the property including title details
2. Payment Schedule: Detailed amortization schedule showing payment dates and amounts
3. Fee Schedule: Breakdown of all applicable fees and charges
4. Insurance Requirements Schedule: Detailed requirements for property insurance
5. Form of Disbursement Request: Template for requesting loan disbursements
6. Form of Security Documents: Templates for mortgage and other security documents
7. Property Valuation Report: Initial valuation report of the property
8. Required Authorizations: List of required permits, consents and authorizations
Authors
Banking & Financial Services
Real Estate
Construction
Commercial Property
Residential Property
Legal Services
Islamic Finance
Property Development
Investment & Asset Management
Professional Services
Legal
Credit Risk
Compliance
Real Estate
Islamic Banking
Loan Operations
Property Services
Documentation
Risk Management
Client Relations
Legal Counsel
Banking Officer
Mortgage Specialist
Property Valuer
Credit Risk Manager
Compliance Officer
Real Estate Manager
Finance Manager
Islamic Finance Specialist
Relationship Manager
Loan Officer
Property Lawyer
Documentation Specialist
Credit Analyst
Chief Legal Officer
Risk Officer
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