The Loan Agreement Term Sheet is a preliminary document used in Saudi Arabian financing transactions to establish the fundamental terms and conditions of a Shariah-compliant facility. It is typically prepared following initial commercial discussions and before the drafting of detailed facility documentation. The document captures essential commercial terms, including facility type, amount, profit rate, repayment structure, and key conditions, while ensuring compliance with Saudi Arabian banking regulations and Islamic finance principles. This term sheet serves multiple purposes: it helps obtain preliminary credit and Shariah approval, guides the preparation of detailed documentation, and forms the basis for obtaining regulatory approvals where required. The document is particularly important in the Saudi Arabian context due to the need to structure conventional financing concepts within Islamic finance parameters and comply with SAMA requirements.
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1. Parties: Identification of the lender(s) and borrower(s), including full legal names and registration details
2. Background: Brief context of the financing arrangement and confirmation of Shariah compliance intention
3. Definitions: Key terms used in the term sheet, including Islamic finance terminology
4. Facility Type and Purpose: Description of the Islamic financing structure being used and permitted uses of the facility
5. Facility Amount: Principal amount of the facility and any subdivision into tranches
6. Profit Rate: Islamic compliant profit rate structure and calculation methodology
7. Term and Repayment: Duration of the facility and repayment schedule
8. Security Package: Overview of required security and guarantees
9. Key Conditions Precedent: Essential conditions to be satisfied before facility availability
10. Key Undertakings: Primary obligations of the borrower during the facility period
11. Events of Default: Main events triggering default under the facility
12. Governing Law and Jurisdiction: Confirmation of Saudi law and relevant courts/dispute resolution
1. Facility Agent Provisions: Required for syndicated facilities with multiple lenders
2. Security Agent Provisions: Required when security is held on behalf of multiple lenders
3. Purchase Undertaking: Required for certain Islamic structures like Murabaha
4. Asset Description: Required for asset-based Islamic financing structures
5. Hedging Requirements: Required for facilities with Shariah-compliant hedging requirements
6. Account Structure: Required for project or structured finance facilities
7. Intercreditor Principles: Required when there are multiple creditors or financing tranches
1. Profit Rate Calculation: Detailed methodology for calculating the Islamic profit rate
2. Form of Drawdown Request: Template for facility utilization requests
3. Security Documents List: Comprehensive list of required security documentation
4. Conditions Precedent Checklist: Detailed list of all required conditions precedent
5. Key Financial Covenants: Specific financial ratios and thresholds to be maintained
6. Repayment Schedule: Detailed breakdown of repayment dates and amounts
7. Form of Shariah Compliance Certificate: Template for periodic Shariah compliance confirmation
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate and Construction
Infrastructure Development
Energy and Utilities
Manufacturing
Healthcare
Education
Telecommunications
Transportation and Logistics
Retail and Consumer Goods
Mining and Materials
Technology
Relevant Teams
Legal
Finance
Treasury
Credit Risk
Shariah Compliance
Corporate Banking
Investment Banking
Business Development
Commercial Banking
Islamic Banking
Regulatory Compliance
Document Management
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Shariah Compliance Officer
Credit Risk Manager
Relationship Manager
Investment Officer
Corporate Finance Manager
Business Development Manager
Financial Controller
Company Secretary
Head of Islamic Banking
Facility Agent
Security Trustee
Transaction Manager
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