The Loan Facility Agreement is a crucial financial instrument in South African commercial lending, used when a lender agrees to make available a specific amount of funding to a borrower under defined terms and conditions. This agreement type must comply with South African banking regulations, particularly the National Credit Act 34 of 2005, and other relevant financial sector legislation. It's commonly used for corporate financing, project funding, or asset acquisition, providing a flexible funding structure that can be drawn down as needed. The document typically includes detailed provisions on facility limits, availability periods, interest calculations, security requirements, and compliance obligations, all tailored to meet South African legal requirements and market practices. The agreement is essential for both single-lender facilities and more complex syndicated arrangements, providing a comprehensive framework for the lending relationship.
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1. Parties: Identification of the Lender and Borrower with full legal names and registration details
2. Background: Context of the facility and purpose of the loan
3. Definitions and Interpretation: Defined terms, interpretation rules, and construction principles
4. The Facility: Details of the loan amount, purpose, and availability period
5. Conditions Precedent: Documents and conditions required before drawdown
6. Drawdown: Process and requirements for utilization of the facility
7. Interest: Interest rate, calculation method, and payment terms
8. Repayment: Repayment schedule, amounts, and prepayment provisions
9. Fees and Costs: All fees, charges, and cost recovery provisions
10. Representations and Warranties: Borrower's confirmations about its status and capacity
11. Undertakings: Borrower's ongoing obligations throughout the facility period
12. Events of Default: Circumstances constituting default and consequences
13. Changes to Parties: Assignment and transfer provisions
14. Notices: Communication methods and contact details
15. General Provisions: Miscellaneous legal provisions including governing law
1. Security: Required when the facility is secured, detailing security arrangements and enforcement
2. Guarantees: Include when third-party guarantees are part of the credit support
3. Tax Gross-up and Indemnities: Detailed tax provisions for corporate or cross-border facilities
4. Increased Costs: Protection for lender against regulatory changes, typically in corporate facilities
5. Market Disruption: Provisions for handling interest rate market disruption in larger facilities
6. Multi-currency Provisions: Required for facilities offered in multiple currencies
7. Anti-corruption Provisions: Enhanced compliance requirements for certain borrowers or sectors
8. Multiple Lenders: Syndication provisions where more than one lender is involved
1. Conditions Precedent: Detailed list of required documents and conditions
2. Form of Drawdown Notice: Template for borrower to request loan disbursement
3. Repayment Schedule: Detailed amortization schedule if term loan
4. Form of Compliance Certificate: Template for periodic confirmation of compliance with facility terms
5. Calculation of Interest Rate: Detailed methodology for interest calculation
6. Security Documents: List and copies of security documentation
7. Fee Schedule: Detailed breakdown of all applicable fees
8. Form of Transfer Certificate: Template for transferring loan participations
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Real Estate
Commercial Property
Manufacturing
Mining
Retail
Agriculture
Technology
Infrastructure
Energy
Healthcare
Construction
Transportation
Telecommunications
Relevant Teams
Legal
Finance
Credit
Risk Management
Compliance
Corporate Banking
Treasury
Operations
Due Diligence
Documentation
Relationship Management
Transaction Management
Relevant Roles
Legal Counsel
Finance Manager
Credit Manager
Risk Officer
Compliance Officer
Corporate Banker
Relationship Manager
Chief Financial Officer
Treasury Manager
Credit Analyst
Legal Director
Banking Executive
Loan Officer
Due Diligence Officer
Transaction Manager
Corporate Finance Manager
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