The Revolving Credit Agreement serves as a fundamental financing tool in the Danish market, providing businesses with flexible access to working capital and general corporate funding. This document is typically used when a borrower requires ongoing access to credit with the ability to draw down and repay funds multiple times within an agreed facility limit. The agreement must comply with Danish law requirements, including the Danish Credit Agreements Act and Financial Business Act, while also adhering to EU financial regulations. It contains detailed provisions covering facility terms, conditions for drawdown, interest calculations, repayment mechanisms, and various protections for both lender and borrower. The document is particularly suitable for businesses with fluctuating capital needs or seasonal working capital requirements, offering more flexibility than a traditional term loan.
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Key Requirements PROMPT example:
Revolving Credit Agreement
I need a Danish law Revolving Credit Agreement for a DKK 50 million facility between Danske Bank as lender and TechCorp A/S as borrower, with a three-year term starting March 1, 2025, including standard market terms for a technology company borrower.
1. Parties: Identification of the lender, borrower, and any other parties to the agreement
2. Background: Context of the agreement and brief description of the parties' intentions
3. Definitions and Interpretation: Definitions of key terms and interpretation rules used throughout the agreement
4. The Facility: Description of the revolving credit facility, including amount, purpose, and revolving nature
5. Conditions Precedent: Conditions that must be satisfied before the facility becomes available
6. Utilisation: Process and requirements for drawing down the facility
7. Repayment and Prepayment: Terms for regular repayment and voluntary/mandatory prepayment provisions
8. Interest: Interest rate, calculation methods, and payment terms
9. Fees: Commitment fees, arrangement fees, and other applicable charges
10. Tax Gross Up and Indemnities: Tax-related provisions and associated indemnities
11. Representations and Warranties: Borrower's representations and warranties
12. Information Undertakings: Borrower's obligations to provide financial and other information
13. General Undertakings: Borrower's general obligations and covenants
14. Events of Default: Circumstances constituting default and consequences
15. Changes to Parties: Provisions for transfer, assignment, and delegation
16. Payment Mechanics: Payment procedures, currencies, and set-off rights
17. Notices: Communication methods and contact details
18. Calculations and Certificates: Rules for calculations and validity of certificates
19. Governing Law and Jurisdiction: Danish law as governing law and jurisdiction provisions
1. Financial Covenants: Financial ratios and tests - include when specific financial metrics need to be maintained
2. Security: Security arrangements - include when the facility is secured
3. Guarantee: Guarantee provisions - include when there are guarantors
4. Increased Costs: Provisions for regulatory or law changes affecting costs - include for longer-term facilities
5. Market Disruption: Provisions for market disruption events - include when using market-based interest rates
6. Multi-currency Provisions: Rules for multiple currencies - include if facility can be drawn in different currencies
7. Reference Bank Provisions: Reference bank arrangements - include when using interbank rates
8. Sustainability-Linked Provisions: ESG-related terms and metrics - include for green/sustainable facilities
1. Conditions Precedent: Detailed list of required documents and conditions
2. Utilisation Request Form: Standard form for requesting drawdowns
3. Repayment Schedule: If applicable, schedule of repayment dates and amounts
4. Compliance Certificate: Form of compliance certificate for financial covenants
5. Commitment Schedule: Details of commitments if multiple lenders
6. Forms of Transfer Certificates: Standard forms for transfers and assignments
7. Contact Details: Detailed contact information for all parties
8. Pricing Schedule: Detailed pricing terms, including margin ratchets if applicable
9. Security Documents: List and copies of security documents if secured facility
Authors
Relevant legal definitions
Availability Period
Available Commitment
Available Facility
Break Costs
Business Day
Commitment
Commitment Fee
Compliance Certificate
Danish Business Day
Default
Event of Default
Facility
Facility Office
Finance Document
Finance Party
Financial Indebtedness
Financial Statements
Group
Interest Payment Date
Interest Period
CIBOR
Lender
Margin
Material Adverse Effect
Month
Original Financial Statements
Participating Member State
Party
Permitted Security
Quotation Day
Reference Banks
Repeating Representations
Rollover Loan
Security
Security Document
Selection Date
Subsidiary
Tax
Total Commitments
Transfer Certificate
Transfer Date
Unpaid Sum
Utilisation
Utilisation Date
Utilisation Request
VAT
Danish Kroner
Drawdown Notice
Fee Letter
Guarantee
Guaranteed Obligations
Information Package
Majority Lenders
Mandatory Cost
Market Disruption Event
Permitted Financial Indebtedness
Quarter Date
Reference Bank Rate
Screen Rate
Security Interest
Tax Credit
Tax Deduction
Tax Payment
Available Commitment
Available Facility
Break Costs
Business Day
Commitment
Commitment Fee
Compliance Certificate
Danish Business Day
Default
Event of Default
Facility
Facility Office
Finance Document
Finance Party
Financial Indebtedness
Financial Statements
Group
Interest Payment Date
Interest Period
CIBOR
Lender
Margin
Material Adverse Effect
Month
Original Financial Statements
Participating Member State
Party
Permitted Security
Quotation Day
Reference Banks
Repeating Representations
Rollover Loan
Security
Security Document
Selection Date
Subsidiary
Tax
Total Commitments
Transfer Certificate
Transfer Date
Unpaid Sum
Utilisation
Utilisation Date
Utilisation Request
VAT
Danish Kroner
Drawdown Notice
Fee Letter
Guarantee
Guaranteed Obligations
Information Package
Majority Lenders
Mandatory Cost
Market Disruption Event
Permitted Financial Indebtedness
Quarter Date
Reference Bank Rate
Screen Rate
Security Interest
Tax Credit
Tax Deduction
Tax Payment
Clauses
Facility Terms
Conditions Precedent
Utilisation
Repayment
Prepayment
Interest
Interest Periods
Changes to Interest Calculation
Fees
Tax Gross-Up
Tax Indemnity
Increased Costs
Other Indemnities
Mitigation
Costs and Expenses
Guarantee
Representations
Information Undertakings
Financial Covenants
General Undertakings
Events of Default
Changes to Lenders
Changes to Borrower
Role of Facility Agent
Role of Security Agent
Payment Mechanics
Set-Off
Security
Confidentiality
Notices
Calculations
Amendments and Waivers
Governing Law
Enforcement
Jurisdiction
Process Agent
Assignment and Transfer
Data Protection
Sanctions
Anti-Corruption
Force Majeure
Severability
Market Disruption
Entire Agreement
Conditions Precedent
Utilisation
Repayment
Prepayment
Interest
Interest Periods
Changes to Interest Calculation
Fees
Tax Gross-Up
Tax Indemnity
Increased Costs
Other Indemnities
Mitigation
Costs and Expenses
Guarantee
Representations
Information Undertakings
Financial Covenants
General Undertakings
Events of Default
Changes to Lenders
Changes to Borrower
Role of Facility Agent
Role of Security Agent
Payment Mechanics
Set-Off
Security
Confidentiality
Notices
Calculations
Amendments and Waivers
Governing Law
Enforcement
Jurisdiction
Process Agent
Assignment and Transfer
Data Protection
Sanctions
Anti-Corruption
Force Majeure
Severability
Market Disruption
Entire Agreement
Relevant Industries
Banking and Financial Services
Corporate Finance
Manufacturing
Retail
Real Estate
Technology
Healthcare
Energy
Infrastructure
Transportation
Telecommunications
Professional Services
Construction
Wholesale Trade
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Banking
Credit
Syndications
Transaction Management
Documentation
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Corporate Lawyer
Legal Counsel
Banking Lawyer
Relationship Manager
Credit Officer
Risk Manager
Compliance Officer
Financial Controller
Corporate Banking Director
Syndications Manager
Transaction Manager
Senior Finance Manager
General Counsel
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