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1. Parties: Identification of the Lender and Borrower with full legal names and addresses
2. Promise to Pay: Explicit unconditional promise by the Borrower to pay the Lender, including the maximum credit limit
3. Definitions: Key terms used throughout the document including 'Credit Limit', 'Interest Rate', 'Payment Date', etc.
4. Credit Facility Terms: Details of the revolving nature of the credit facility, including draw-down rights and repayment provisions
5. Interest Rate: Specification of interest rate(s), calculation method, and compounding periods
6. Payments: Payment terms, including minimum payments, payment dates, and application of payments
7. Representations and Warranties: Basic representations by the Borrower regarding legal capacity and authority
8. Events of Default: Circumstances constituting default and consequences thereof
9. Remedies: Lender's rights and remedies upon default
10. Governing Law: Specification of Canadian law as governing law and jurisdiction
1. Security Interest: Include when the credit line is secured by collateral, describing the security interest and registration requirements
2. Guaranty: Include when there are personal or corporate guarantors for the credit facility
3. Insurance Requirements: Include when the lender requires specific insurance coverage on collateral or the borrower
4. Financial Covenants: Include for business borrowers when specific financial metrics must be maintained
5. Notice Provisions: Include when specific notice requirements for draws or payments are required
6. Prepayment Terms: Include when there are specific provisions or penalties for early repayment
7. Cross-Default: Include when default under other agreements triggers default under this note
1. Schedule A - Draw Procedures: Detailed procedures for requesting and processing draws under the credit facility
2. Schedule B - Calculation of Interest: Detailed methodology for interest calculation and examples
3. Schedule C - Payment Schedule: Template for recording draws, payments, and running balance
4. Schedule D - Security Agreement: If secured, details of collateral and security interest
5. Schedule E - Compliance Certificate: Form for periodic certification of compliance with note terms
Applicable Law
Available Credit
Banking Day
Borrower
Business Day
Credit Limit
Default
Default Rate
Draw
Draw Request
Event of Default
Facility
Governing Law
Interest Payment Date
Interest Period
Interest Rate
Lender
Maturity Date
Maximum Credit Amount
Minimum Payment
Outstanding Balance
Payment Date
Permitted Purpose
Prime Rate
Principal
Repayment
Required Payment
Security
Security Interest
Statement of Account
Term
Unutilized Credit
Material Adverse Change
Permitted Liens
Financial Statements
Borrowing Base
Collateral
Guarantor
Indebtedness
Loan Documents
Obligations
Payment Account
Revolving Period
Credit Facility
Interest
Payments
Draw Conditions
Representations and Warranties
Security
Default
Acceleration
Remedies
Set-Off Rights
Governing Law
Assignment
Notices
Amendment
Severability
Waiver
Indemnification
Costs and Expenses
Term and Termination
Financial Covenants
Reporting Requirements
Collateral
Insurance
Guaranty
Registration
Entire Agreement
Further Assurances
Counterparts
Survival
Financial Services
Banking
Commercial Lending
Small Business
Real Estate
Manufacturing
Retail
Construction
Technology
Professional Services
Healthcare
Agriculture
Legal
Finance
Treasury
Credit and Risk
Compliance
Commercial Lending
Corporate Banking
Business Development
Operations
Chief Financial Officer
Finance Director
Treasury Manager
Credit Manager
Financial Controller
Legal Counsel
Corporate Secretary
Risk Manager
Commercial Lending Officer
Credit Analyst
Compliance Officer
Account Manager
Business Development Manager
Financial Advisor
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