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Debtor In Possession Loan Agreement
"Need a Debtor In Possession Loan Agreement for a Singapore manufacturing company seeking USD 50M in rescue financing, with multiple lenders involved and cross-border assets in Malaysia and Indonesia that need to be included as security."
1. Parties: Identification of lender(s) and borrower(s), including registration details
2. Background: Context of the DIP financing, including insolvency proceedings status
3. Definitions: Key terms used throughout the agreement
4. Facility Details: Loan amount, purpose, and drawdown conditions
5. Security and Priority: Super-priority status and security arrangements
6. Conditions Precedent: Requirements before loan effectiveness
7. Representations and Warranties: Borrower's statements of fact and assurances
8. Covenants: Ongoing obligations of the borrower
9. Events of Default: Circumstances that trigger default and remedies
10. Payment Terms: Interest rates, repayment schedule, and fees
11. Governing Law and Jurisdiction: Applicable law and dispute resolution provisions
1. Intercreditor Provisions: Required when multiple creditors are involved to establish priority and rights between different classes of creditors
2. Cross-Border Provisions: Provisions dealing with international aspects of the financing, including recognition of foreign proceedings
3. Carve-out Provisions: Specific exceptions to the super-priority status and provisions for protected creditors
4. Insurance: Requirements for insurance coverage of assets and business
5. Voting Rights: Provisions regarding creditor voting rights in restructuring proceedings
1. Form of Drawdown Notice: Standard format for requesting loan disbursements
2. Security Documents: Details of collateral and security arrangements
3. Fee Schedule: Breakdown of all applicable fees and charges
4. Court Orders: Copies of relevant insolvency proceedings orders
5. Budget: Approved operating budget during DIP period
6. Existing Indebtedness: Schedule of pre-existing debts and their status
7. Form of Compliance Certificate: Template for periodic compliance reporting
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