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Business Loan Contract

Business Loan Contract Template for Belgium

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Key Requirements PROMPT example:

Business Loan Contract

"I need a Business Loan Contract under Belgian law for a €2.5 million secured loan to a manufacturing company, with both corporate and personal guarantees, including machinery as collateral and quarterly financial reporting requirements."

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Document background
The Business Loan Contract serves as the primary legal instrument for documenting commercial lending transactions in Belgium. It is used when a business entity seeks financing from a financial institution, establishing the legal framework for the loan relationship. The document must comply with Belgian financial regulations, including the Belgian Civil Code and the Code of Economic Law, while also adhering to relevant EU directives. This contract type typically includes detailed provisions on loan amount, interest calculations, security arrangements, representations and warranties, and events of default. It's particularly important for ensuring legal certainty in commercial lending transactions and protecting both lender and borrower interests under Belgian jurisdiction. The document's structure reflects specific requirements of Belgian commercial law while incorporating international banking practices.
Suggested Sections

1. Parties: Identification of the Lender and Borrower, including full legal names, registration numbers, and registered addresses

2. Background: Context of the loan agreement, including purpose of the loan and any relevant business relationship between the parties

3. Definitions: Detailed definitions of terms used throughout the agreement, including financial terms and technical terminology

4. Loan Amount and Purpose: Specification of the loan amount, currency, and permitted use of the funds

5. Interest Rate and Calculations: Details of interest rate (fixed or variable), calculation method, and payment periods

6. Drawdown Conditions: Conditions precedent and procedures for accessing the loan funds

7. Repayment Terms: Schedule of repayments, including principal and interest payment dates

8. Representations and Warranties: Statements of fact and assurances given by the Borrower regarding their business and financial condition

9. Covenants: Ongoing obligations of the Borrower, including financial covenants and reporting requirements

10. Events of Default: Circumstances that constitute default and consequences thereof

11. Fees and Costs: All applicable fees, charges, and cost allocation between parties

12. Notices: Methods and addresses for formal communications between parties

13. Governing Law and Jurisdiction: Specification of Belgian law as governing law and jurisdiction for disputes

14. Execution: Signature blocks and execution requirements

Optional Sections

1. Security Arrangements: Details of any collateral or security provided - include when loan is secured

2. Guarantees: Terms of any personal or corporate guarantees - include when third-party guarantees are provided

3. Insurance Requirements: Specific insurance obligations - include when collateral requires insurance coverage

4. Early Repayment Provisions: Terms for early repayment options - include when early repayment is permitted

5. Syndication Provisions: Terms for loan syndication - include for larger loans that may be syndicated

6. Tax Provisions: Detailed tax implications and responsibilities - include when complex tax arrangements apply

7. Change of Control: Provisions regarding change in borrower ownership - include for corporate borrowers

8. Assignment and Transfer: Terms for transferring loan rights - include when transfer rights are contemplated

Suggested Schedules

1. Repayment Schedule: Detailed amortization table showing all payment dates and amounts

2. Conditions Precedent: List of all documents and conditions required before drawdown

3. Form of Drawdown Notice: Template for requesting disbursement of loan funds

4. Security Documents: Details of collateral and security arrangements, if applicable

5. Financial Covenants: Specific financial ratios and requirements to be maintained

6. Permitted Security Interests: List of pre-approved security interests and encumbrances

7. Required Insurance: Details of required insurance coverage and terms

8. Fees Schedule: Detailed breakdown of all applicable fees and charges

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Additional Security
Availability Period
Business Day
Breach of Agreement
Break Costs
Change of Control
Collateral
Conditions Precedent
Default Interest
Default Notice
Drawdown
Drawdown Date
Drawdown Notice
EURIBOR
Event of Default
Facility
Finance Documents
Financial Indebtedness
Financial Statements
Group
Guarantee
Interest Payment Date
Interest Period
Interest Rate
Legal Reservations
Loan
Loan Amount
Material Adverse Change
Material Adverse Effect
Maturity Date
Outstanding Amount
Permitted Security Interest
Principal
Qualifying Lender
Repayment Date
Repayment Schedule
Security
Security Documents
Security Interest
Subsidiary
Tax
Tax Deduction
VAT
Working Capital
Clauses
Loan Facility
Interest
Repayment
Security
Representations and Warranties
Conditions Precedent
Drawdown
Financial Covenants
Information Covenants
General Undertakings
Events of Default
Acceleration
Set-off
Assignment and Transfer
Costs and Expenses
Tax Gross-up
Indemnities
Force Majeure
Confidentiality
Notices
Amendments
Severability
Waiver
Counterparts
Governing Law
Jurisdiction
Entire Agreement
Third Party Rights
Early Termination
Change of Control
Insurance
Security Enforcement
Payment Mechanics
Currency
Default Interest
Syndication
Anti-Money Laundering
Data Protection
Reporting Requirements
Relevant Industries

Banking and Financial Services

Commercial Real Estate

Manufacturing

Retail

Technology

Healthcare

Construction

Agriculture

Transportation and Logistics

Professional Services

Energy and Utilities

Hospitality and Tourism

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Corporate Banking

Credit Assessment

Business Development

Account Management

Operations

Corporate Finance

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Commercial Lending Officer

Credit Risk Manager

Legal Counsel

Compliance Officer

Business Development Manager

Account Manager

Corporate Banking Manager

Financial Controller

Risk Assessment Officer

Corporate Finance Manager

Managing Director

Business Owner

Financial Analyst

Loan Officer

Relationship Manager

Industries
Belgian Civil Code (Code Civil/Burgerlijk Wetboek): Fundamental law governing contracts, obligations, and general principles of civil law in Belgium, including provisions on formation and execution of contracts
Belgian Code of Economic Law (Code de droit économique/Wetboek van economisch recht): Regulates business practices and commercial transactions, including provisions on business loans and financial services
Law of 21 December 2013 on Various Provisions Concerning Consumer Credit: While primarily focused on consumer credit, some principles may apply to business loans, especially regarding information requirements and fair lending practices
Belgian Financial Law of 2 August 2002: Governs financial services and markets, including regulations on financial institutions and lending practices
Belgian Act on Securities and Various Financial Transactions: Regulates security interests, collateral, and financial transactions in business contexts
Belgian Law on Late Payments in Commercial Transactions: Implements EU Directive 2011/7/EU, governing payment terms and interest rates in commercial transactions
Anti-Money Laundering Law of 18 September 2017: Requires due diligence and verification procedures in financial transactions, including business loans
EU General Data Protection Regulation (GDPR): Regulates the processing of personal data, relevant for handling business information and personal data of business representatives
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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