Document background
The Master Credit Agreement serves as the primary documentation for establishing and governing credit relationships in Ireland between financial institutions and borrowers. This agreement type is particularly useful when parties anticipate multiple credit facilities or ongoing lending arrangements, as it provides a unified framework that can accommodate various types of credit extensions while maintaining consistent terms and conditions. The document incorporates requirements from Irish financial services legislation and EU regulations, including mandatory provisions related to consumer protection, financial services regulation, and anti-money laundering requirements. It typically includes detailed provisions for facility utilization, interest calculations, security arrangements, and covenant compliance, while allowing flexibility for specific credit facilities to be documented through supplemental agreements or utilization requests.
