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Development Funding Agreement
"I need a Development Funding Agreement under UAE law for a mixed-use real estate project in Dubai with a conventional funding structure of AED 500 million, including specific provisions for phased disbursement and environmental compliance requirements."
1. Parties: Identification of the funding entity and developer/borrower, including full legal names and registration details
2. Background: Context of the development project, purpose of funding, and brief overview of the arrangement
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules of interpretation
4. Purpose and Scope: Detailed description of the development project and scope of funding
5. Funding Amount and Disbursement: Total funding amount, tranches, and conditions for disbursement
6. Conditions Precedent: Prerequisites that must be satisfied before funding disbursement
7. Representations and Warranties: Statements of fact and assurances from both parties
8. Developer Obligations: Key responsibilities and commitments of the developer regarding the project
9. Funder's Rights and Obligations: Rights and responsibilities of the funding entity
10. Security and Collateral: Details of security arrangements and collateral for the funding
11. Monitoring and Reporting: Requirements for project progress reporting and financial monitoring
12. Events of Default: Circumstances constituting default and corresponding remedies
13. Term and Termination: Duration of agreement and circumstances for early termination
14. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction
15. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment
1. Islamic Finance Compliance: Required when the funding follows Islamic finance principles
2. Environmental Compliance: Required for projects with significant environmental impact
3. Government Approvals: Required when specific government permits or approvals are needed
4. Joint Venture Provisions: Required when the development involves multiple developers or joint venture partners
5. Force Majeure: Optional section detailing force majeure events and consequences
6. Step-In Rights: Required when funder needs right to take control of project in specific circumstances
7. Insurance Requirements: Detailed insurance obligations when project requires specific coverage
8. Third Party Rights: Required when agreement affects rights of specific third parties
1. Project Description: Detailed technical specifications and scope of the development project
2. Development Timeline: Detailed project milestones and completion deadlines
3. Disbursement Schedule: Breakdown of funding tranches and associated conditions
4. Security Documents: Forms of security documents and collateral arrangements
5. Required Approvals: List of required permits, licenses, and regulatory approvals
6. Reporting Requirements: Templates and specifications for required project reports
7. Key Personnel: List of key project team members and their responsibilities
8. Form of Drawdown Notice: Template for requesting funding disbursements
9. Technical Specifications: Detailed technical requirements and standards for the development
10. Financial Model: Projected financials and funding utilization plan
Authors
Applicable Law
Approved Development Plan
Authority
Availability Period
Business Day
Change of Control
Completion Date
Conditions Precedent
Construction Contract
Construction Period
Default
Default Rate
Development
Development Costs
Development Period
Development Property
Development Rights
Disbursement
Drawdown
Drawdown Date
Drawdown Notice
Encumbrance
Environmental Law
Event of Default
Facility
Facility Agreement
Final Maturity Date
Finance Documents
Financial Close
Financial Statements
Force Majeure Event
Funding Date
Good Industry Practice
Governing Law
Government Approval
Gross Development Value
Guarantee
Guarantor
Interest Period
Interest Rate
Islamic Finance Provisions
Key Milestone
Legal Requirement
Lender
License
Material Adverse Effect
Material Contract
Milestone Date
Notice
Permitted Development
Planning Permission
Project
Project Account
Project Budget
Project Company
Project Documents
Project Manager
Project Schedule
Property
Reference Banks
Relevant Jurisdiction
Repayment Date
Repayment Schedule
Required Consent
Security
Security Agent
Security Documents
Security Interest
Site
Special Purpose Vehicle
Specified Development
Step-in Rights
Technical Advisor
Term
Transaction Documents
Utilization
VAT
Works
Definitions
Funding Facility
Purpose
Availability
Conditions Precedent
Disbursement
Interest and Profit Share
Repayment
Prepayment
Security
Representations and Warranties
Developer Covenants
Funder Covenants
Development Obligations
Project Milestones
Construction Requirements
Technical Standards
Environmental Compliance
Health and Safety
Regulatory Compliance
Islamic Finance Compliance
Monitoring and Reporting
Information Requirements
Financial Covenants
Insurance
Events of Default
Remedies
Step-in Rights
Force Majeure
Change of Control
Assignment and Transfer
Confidentiality
Data Protection
Notices
Amendments
Waiver
Severability
Entire Agreement
Third Party Rights
Costs and Expenses
Tax
Anti-corruption
Governing Law
Dispute Resolution
Jurisdiction
Real Estate Development
Infrastructure Development
Commercial Property
Industrial Development
Hospitality Development
Healthcare Facilities
Educational Facilities
Mixed-use Development
Renewable Energy
Smart City Development
Retail Development
Residential Development
Legal
Finance
Project Development
Risk Management
Compliance
Treasury
Commercial
Construction
Investment
Corporate Finance
Project Management
Real Estate
Chief Financial Officer
Development Director
Project Finance Manager
Legal Counsel
Project Manager
Financial Controller
Risk Manager
Compliance Officer
Development Manager
Investment Director
Treasury Manager
Construction Manager
Commercial Director
Corporate Finance Manager
Senior Legal Advisor
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