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Credit And Security Agreement
"I need a Credit and Security Agreement for a SGD 10 million facility to be provided to my manufacturing company, with machinery and inventory as collateral, to be completed by March 2025."
1. Parties: Identification of lender(s), borrower(s), and any guarantors
2. Background: Context of the credit facility and security arrangement
3. Definitions: Key terms used tHRoughout the agreement including facility-specific and security-related definitions
4. Facility Terms: Amount, purpose, availability period, repayment terms, interest rates, and fees
5. Security Provisions: Description of collateral, security interests being created, and perfection requirements
6. Representations and Warranties: Statements of fact by the borrower regarding their legal status, authority, and secured assets
7. Covenants: Positive and negative obligations of the borrower including financial covenants and reporting requirements
8. Events of Default: Circumstances triggering default and consequences thereof
9. Enforcement: Rights and remedies upon default, including enforcement of security
1. Guarantees: Terms of guarantee and guarantor obligations when third-party guarantors are involved
2. Syndication Provisions: Terms governing multiple lenders including voting rights and sharing provisions
3. Intercreditor Provisions: Regulates relationship between different classes of creditors including priority arrangements
4. Security Trustee Provisions: Terms governing security trustee role and responsibilities
1. Facility Terms Schedule: Detailed terms of the credit facility including pricing, repayment schedule, and financial covenants
2. Security Assets Schedule: Detailed description and documentation of secured assets
3. Form of Drawdown Notice: Template for requesting loan disbursements
4. Form of Compliance Certificate: Template for periodic compliance reporting
5. Form of Transfer Certificate: Template for transferring loan participations
6. Conditions Precedent: List of required documents and conditions for facility effectiveness
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