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Line Of Credit Promissory Note
"I need a Line of Credit Promissory Note under Austrian law for a €500,000 facility between ABC Manufacturing GmbH and Erste Bank, with quarterly interest payments and a maturity date of March 15, 2025, secured by manufacturing equipment and including standard financial covenants."
1. Parties: Identification of the lender (credit provider) and borrower with full legal names and addresses
2. Background: Brief context of the credit facility arrangement and purpose of the promissory note
3. Definitions: Key terms used throughout the document including 'Credit Limit', 'Interest Rate', 'Draw Down', etc.
4. Promise to Pay: Formal promissory note language confirming the borrower's unconditional promise to pay
5. Credit Facility Terms: Details of the line of credit including credit limit, availability period, and purpose
6. Interest Rate and Calculations: Specification of interest rate(s), calculation method, and payment frequency
7. Drawdown Mechanics: Procedures and conditions for drawing down funds under the facility
8. Repayment Terms: Specifications for repayment including minimum payments, prepayment rights, and maturity
9. Events of Default: Circumstances constituting default and consequences thereof
10. Representations and Warranties: Standard declarations by the borrower regarding their legal capacity and financial condition
11. Governing Law and Jurisdiction: Confirmation of Austrian law governance and jurisdiction for disputes
1. Security Arrangements: Required if the line of credit is secured by collateral or assets
2. Guarantor Provisions: Included when there is a third-party guarantor for the credit facility
3. Financial Covenants: Required for corporate borrowers or larger credit facilities with financial maintenance requirements
4. Insurance Requirements: Included when specific insurance coverage is required for secured assets
5. Change of Control Provisions: Required for corporate borrowers to address ownership changes
6. Cross-Default Provisions: Included when the borrower has other significant credit arrangements
7. Consumer Protection Clauses: Required when the borrower qualifies as a consumer under Austrian law
1. Drawdown Request Form: Standard form for requesting draws under the credit facility
2. Repayment Schedule: If applicable, amortization or minimum payment schedule
3. Fee Schedule: Detailed breakdown of all applicable fees and charges
4. Security Details: If secured, detailed description of collateral and security arrangements
5. Conditions Precedent Checklist: List of required documents and conditions for initial drawdown
6. Compliance Certificate: Template for periodic financial covenant compliance certification
Authors
Additional Mandatory Costs
Applicable Interest Rate
Availability Period
Banking Day
Borrower
Business Day
Change of Control
Commitment
Conditions Precedent
Credit Limit
Default Interest Rate
Default Event
Draw Down
Draw Down Date
Draw Down Notice
Due Date
EURIBOR
Event of Default
Facility
Fee Schedule
Final Maturity Date
Financial Indebtedness
Financial Statements
Guarantor
Interest Payment Date
Interest Period
Lender
Mandatory Costs
Material Adverse Effect
Note
Outstanding Amount
Permitted Purpose
Potential Default Event
Principal Amount
Promissory Note
Reference Banks
Repayment Date
Repayment Schedule
Security
Security Documents
Taxes
Utilization
Utilization Date
Utilization Request
Credit Facility Terms
Interest Rate
Drawdown Mechanics
Repayment
Security
Representations and Warranties
Covenants
Events of Default
Interest Calculation
Payment Terms
Conditions Precedent
Fees and Expenses
Tax Gross-up
Currency
Set-off Rights
Assignment and Transfer
Notices
Amendments and Waivers
Severability
Entire Agreement
Governing Law
Jurisdiction
Force Majeure
Confidentiality
Information Undertakings
Financial Covenants
Anti-Money Laundering
Cancellation Rights
Acceleration
Default Interest
Indemnification
Cross-Default
Change of Control
Guarantee
Consumer Protection
Banking and Financial Services
Corporate Finance
Real Estate
Manufacturing
Retail
Construction
Technology
Healthcare
Agriculture
Professional Services
Energy
Transportation and Logistics
Legal
Finance
Treasury
Risk Management
Compliance
Credit Administration
Corporate Banking
Operations
Account Management
Corporate Secretariat
Chief Financial Officer
Finance Director
Treasury Manager
Credit Manager
Corporate Banker
Relationship Manager
Legal Counsel
Compliance Officer
Risk Manager
Corporate Secretary
Finance Controller
Credit Analyst
Banking Operations Manager
Account Manager
Financial Planning Manager
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