Document background
The Credit Facilities Agreement is a fundamental document used in financing transactions under Irish law when a lender or syndicate of lenders provides credit to a borrower. It serves as the primary agreement governing the lending relationship, detailing all aspects of the credit facility including drawdown mechanics, interest calculations, repayment obligations, and security arrangements. The document ensures compliance with Irish financial services regulations, including the Consumer Credit Act 1995, Central Bank requirements, and relevant EU directives. It is particularly crucial for establishing clear rights, obligations, and remedies for all parties involved in the credit arrangement, while incorporating necessary protections and regulatory requirements specific to the Irish jurisdiction. The agreement can be adapted for various types of credit facilities, from simple bilateral loans to complex syndicated arrangements, and can include multiple facilities under a single agreement structure.
