The Bilateral Credit Agreement is a fundamental financing document used in Danish banking and corporate finance transactions when one party (the lender) agrees to provide credit facilities to another party (the borrower). This agreement type is essential for documenting commercial lending arrangements under Danish law, whether for general corporate purposes, specific projects, or asset acquisition. The document incorporates mandatory provisions required by Danish financial regulations, including the Danish Financial Business Act and Credit Agreements Act, while also ensuring compliance with EU banking regulations where applicable. It contains detailed provisions regarding facility terms, drawdown mechanics, repayment obligations, security arrangements (if any), and standard banking covenants. The agreement is typically customized based on the specific transaction requirements, borrower's creditworthiness, and the nature of any security provided.
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Key Requirements PROMPT example:
Bilateral Credit Agreement
I need a Bilateral Credit Agreement under Danish law for a €5 million secured facility to be provided by Danske Bank A/S to a medium-sized manufacturing company, with the loan to be used for equipment purchase and to be fully drawn by March 2025.
1. Parties: Identification of the lender and borrower with full legal names and registration details
2. Background: Context of the credit facility and purpose of the loan
3. Definitions and Interpretation: Definitions of key terms and interpretation rules
4. The Facility: Amount, purpose, and nature of the credit facility
5. Conditions Precedent: Conditions that must be satisfied before drawdown
6. Drawdown: Process and requirements for utilizing the facility
7. Interest: Interest rate, calculation methods, and payment periods
8. Repayment: Terms and schedule for repayment of the facility
9. Prepayment: Terms and conditions for voluntary and mandatory prepayment
10. Representations and Warranties: Standard declarations made by the borrower
11. Information Undertakings: Ongoing information obligations of the borrower
12. General Undertakings: General obligations and restrictions on the borrower's activities
13. Events of Default: Circumstances that trigger default and remedies
14. Changes to Parties: Rules for assignment and transfer
15. Notices: Communication methods and contact details
16. Calculations and Certificates: Rules about calculations and evidence of amounts due
17. General Provisions: Miscellaneous legal provisions including partial invalidity, remedies, amendments
18. Governing Law and Jurisdiction: Danish law as governing law and jurisdiction provisions
1. Security: Details of any security arrangements - include if the loan is secured
2. Financial Covenants: Specific financial ratios and tests - include for corporate borrowers
3. Tax Gross Up and Indemnities: Tax-related provisions - include for cross-border transactions
4. Increased Costs: Provisions for regulatory changes affecting the lender - include for longer-term facilities
5. Set-off Rights: Right to set off debts against credits - include if relevant to the relationship
6. Multiple Lenders: Provisions for syndication or multiple lenders - include if more than one lender
7. Guarantee: Terms of any guarantee - include if there are guarantors
8. Currency Provisions: Rules for handling multiple currencies - include for multi-currency facilities
1. Conditions Precedent Documents: List of required documents and conditions to be satisfied before first drawdown
2. Form of Drawdown Request: Template for requesting utilization of the facility
3. Repayment Schedule: Detailed schedule of repayment dates and amounts
4. Form of Transfer Certificate: Template for transferring rights and obligations under the agreement
5. Security Documents: Forms of security documents if security is required
6. Calculation of Interest Rate: Detailed methodology for interest calculations
7. Contact Details: Detailed contact information for all parties
8. Form of Compliance Certificate: Template for periodic compliance reporting
Authors
Relevant legal definitions
Account Bank
Affiliate
Agreement
Availability Period
Available Commitment
Available Facility
Banking Day
Borrower
Break Costs
Business Day
Change of Control
Commitment
Compliance Certificate
Confidential Information
Default
Default Interest
Disruption Event
Drawdown Date
Drawdown Request
Event of Default
Facility
Facility Office
Finance Documents
Financial Indebtedness
Financial Statements
Group
Guarantor
Interest Payment Date
Interest Period
Interest Rate
Lender
LIBOR/CIBOR/EURIBOR
Loan
Major Default
Margin
Material Adverse Effect
Permitted Security
Potential Default
Quotation Day
Reference Banks
Relevant Jurisdiction
Repayment Date
Repeating Representations
Secured Obligations
Security
Security Documents
Security Period
Subsidiary
Tax
Tax Deduction
Total Commitments
Transfer Certificate
Unpaid Sum
Affiliate
Agreement
Availability Period
Available Commitment
Available Facility
Banking Day
Borrower
Break Costs
Business Day
Change of Control
Commitment
Compliance Certificate
Confidential Information
Default
Default Interest
Disruption Event
Drawdown Date
Drawdown Request
Event of Default
Facility
Facility Office
Finance Documents
Financial Indebtedness
Financial Statements
Group
Guarantor
Interest Payment Date
Interest Period
Interest Rate
Lender
LIBOR/CIBOR/EURIBOR
Loan
Major Default
Margin
Material Adverse Effect
Permitted Security
Potential Default
Quotation Day
Reference Banks
Relevant Jurisdiction
Repayment Date
Repeating Representations
Secured Obligations
Security
Security Documents
Security Period
Subsidiary
Tax
Tax Deduction
Total Commitments
Transfer Certificate
Unpaid Sum
Clauses
Interpretation
Facility Terms
Purpose
Conditions Precedent
Drawdown
Repayment
Prepayment
Interest
Fees
Tax Gross-Up
Increased Costs
Payments
Representations and Warranties
Information Undertakings
Financial Covenants
General Undertakings
Events of Default
Security
Set-Off
Assignment and Transfer
Changes to Parties
Confidentiality
Data Protection
Notices
Calculations
Amendments
Severability
Counterparts
Force Majeure
Anti-Money Laundering
Sanctions
Governing Law
Jurisdiction
Dispute Resolution
Facility Terms
Purpose
Conditions Precedent
Drawdown
Repayment
Prepayment
Interest
Fees
Tax Gross-Up
Increased Costs
Payments
Representations and Warranties
Information Undertakings
Financial Covenants
General Undertakings
Events of Default
Security
Set-Off
Assignment and Transfer
Changes to Parties
Confidentiality
Data Protection
Notices
Calculations
Amendments
Severability
Counterparts
Force Majeure
Anti-Money Laundering
Sanctions
Governing Law
Jurisdiction
Dispute Resolution
Relevant Industries
Banking & Financial Services
Corporate Finance
Real Estate
Manufacturing
Energy
Infrastructure
Technology
Healthcare
Retail
Agriculture
Transportation & Logistics
Construction
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Credit
Corporate Banking
Operations
Commercial
Corporate Finance
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Corporate Lawyer
Compliance Officer
Risk Manager
Credit Manager
Banking Relationship Manager
Corporate Banking Officer
Finance Manager
Senior Legal Counsel
Head of Corporate Finance
Financial Controller
Commercial Director
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