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Master Credit Agreement
"Need a Master Credit Agreement for a £50 million revolving credit facility between our bank and a medium-sized manufacturing company, with the option to add additional borrowers from their group of companies in the future."
1. Parties: Identification and details of the contracting parties
2. Background: Context and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Facility Details: Credit amount, purpose, and key terms
5. Interest and Fees: Interest calculation, rates, and applicable fees
6. Repayment Terms: Payment schedule and methods
7. Representations and Warranties: Statements of fact by the borrower
8. Covenants: Ongoing obligations of the borrower
9. Events of Default: Circumstances triggering default and remedies
1. Security: Details of any collateral or guarantees (used when the credit facility is secured)
2. Syndication Provisions: Terms for multiple lenders (used for syndicated facilities)
3. Currency Provisions: Terms for multiple currency facilities (used for multi-currency facilities)
1. Conditions Precedent: Documents required before drawdown
2. Form of Drawdown Notice: Template for requesting funds
3. Repayment Schedule: Detailed payment dates and amounts
4. Form of Transfer Certificate: Template for transferring interests in the facility
5. Security Documents: Details of security arrangements if applicable
Authors
Additional Borrower
Additional Facility
Additional Lender
Affiliate
Availability Period
Available Commitment
Available Facility
Base Rate
Break Costs
Business Day
Commitment
Compliance Certificate
Default
Default Interest
Drawdown Date
Drawdown Notice
Event of Default
Facility
Facility Amount
Finance Documents
Finance Parties
Financial Indebtedness
Interest Payment Date
Interest Period
LIBOR
Margin
Material Adverse Effect
Obligor
Original Financial Statements
Permitted Security
Potential Event of Default
Quotation Day
Reference Banks
Repeating Representations
Security
Security Documents
Subsidiary
Tax
Term
Total Commitments
Transfer Certificate
Transfer Date
Unpaid Sum
Facility
Purpose
Conditions Precedent
Drawdown
Interest
Fees
Tax Gross Up and Indemnities
Increased Costs
Representations and Warranties
Information Undertakings
Financial Covenants
General Undertakings
Events of Default
Changes to Parties
Payment Mechanics
Set-off
Security
Costs and Expenses
Indemnities
Notices
Calculations and Certificates
Partial Invalidity
Remedies and Waivers
Amendments and Waivers
Confidentiality
Counterparts
Governing Law
Enforcement
Jurisdiction
Service of Process
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