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This Revolving Credit Loan Agreement is designed for use in Saudi Arabia where businesses require flexible financing solutions that comply with Islamic law and local regulations. The agreement enables borrowers to access funds on a revolving basis, with the ability to draw down, repay, and reborrow within an approved limit. It incorporates necessary Shariah-compliant structures, SAMA regulatory requirements, and Saudi banking control provisions. Typically used for working capital, general corporate purposes, or specific project financing, the agreement includes detailed sections on profit calculation, security arrangements (if applicable), and compliance with Islamic financing principles. The document is structured to accommodate both bilateral and syndicated arrangements, with provisions for multiple lenders if required.

1. Parties: Identification of the lender(s) and borrower(s), including full legal names and registration details

2. Background: Context of the agreement and confirmation of Shariah compliance

3. Definitions and Interpretation: Key terms, Islamic finance concepts, and interpretation principles

4. The Facility: Nature and amount of the revolving facility, purpose, and Shariah structure

5. Conditions Precedent: Documents and conditions required before initial and subsequent utilization

6. Utilization: Process and requirements for drawdown requests and subsequent utilizations

7. Repayment and Prepayment: Terms for periodic repayment and voluntary prepayment provisions

8. Profit Rate and Fees: Calculation of Islamic profit rate, fees and charges (avoiding interest terminology)

9. Islamic Structure: Specific provisions ensuring Shariah compliance and Islamic financing structure

10. Representations and Warranties: Standard and Shariah-specific representations by the borrower

11. Information Undertakings: Financial and other information to be provided by the borrower

12. General Undertakings: Positive and negative covenants of the borrower

13. Events of Default: Circumstances constituting default and consequences

14. Changes to Parties: Transfer and assignment provisions

15. Payment Mechanics: Payment procedures, currency, and business day conventions

16. Notices: Communication methods and contact details

17. Governing Law and Jurisdiction: Saudi law as governing law and jurisdiction provisions