The Loan Closing Letter is a critical document in Hong Kong's lending practice that marks the successful completion of a loan transaction. It is typically issued by a lender once all conditions precedent have been satisfied and the loan is ready to be drawn down or has been drawn down. The letter serves multiple purposes: it confirms compliance with all pre-disbursement requirements, documents key terms and conditions, outlines any post-closing obligations, and provides essential administrative details. Used in both corporate and institutional lending contexts, the Loan Closing Letter must comply with Hong Kong's Banking Ordinance and related financial regulations. This document is particularly important in Hong Kong's financial center context, where it helps maintain clear documentation trails and ensures regulatory compliance in financial transactions.
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1. Letter Header and Date: Formal letterhead, date, and reference number of the loan facility
2. Addressee Details: Full name and address of the borrower
3. Loan Reference: Clear reference to the relevant loan agreement and facility
4. Confirmation of Closing: Statement confirming that all conditions precedent have been satisfied and the loan is now effective
5. Key Terms Summary: Brief recap of the principal loan terms including amount, interest rate, and term
6. Disbursement Details: Confirmation of how and when funds will be/have been disbursed
7. Outstanding Requirements: List of any post-closing requirements or ongoing obligations
8. Contact Information: Details of key contacts for ongoing loan administration
9. Signature Block: Authorized signatory details and signature
1. Security Confirmation: Confirmation of security registration where loan is secured
2. Insurance Requirements: Confirmation of insurance policies where required for the loan
3. Fee Summary: Detailed breakdown of fees and charges if not covered in main facility documentation
4. Guarantor Acknowledgment: Section for guarantor acknowledgment if applicable
5. Special Conditions: Any special or unique conditions specific to this loan closing
6. Regulatory Disclosures: Any required regulatory statements or disclosures specific to the loan type
1. Fee Schedule: Detailed breakdown of all fees, charges, and expenses related to the loan closing
2. Disbursement Schedule: Schedule showing the breakdown of disbursement amounts and recipients if multiple payments are involved
3. Document Checklist: List of all documents received and verified for loan closing
4. Contact Directory: Comprehensive list of relevant contacts including relationship managers, legal counsel, and other key parties
Relevant legal definitions
Facility Agreement
Loan Amount
Closing Date
Conditions Precedent
Disbursement Date
Effective Date
Facility
Interest Rate
Lender
Borrower
Security Documents
Business Day
Banking Day
Drawdown
Guarantor
Security Provider
Secured Assets
Repayment Schedule
Material Adverse Change
Event of Default
Governing Law
Authorized Signatories
Designated Account
Reference Rate
Facility Agent
Loan Amount
Closing Date
Conditions Precedent
Disbursement Date
Effective Date
Facility
Interest Rate
Lender
Borrower
Security Documents
Business Day
Banking Day
Drawdown
Guarantor
Security Provider
Secured Assets
Repayment Schedule
Material Adverse Change
Event of Default
Governing Law
Authorized Signatories
Designated Account
Reference Rate
Facility Agent
Clauses
Confirmation of Closing
Conditions Precedent Satisfaction
Disbursement Terms
Loan Amount Confirmation
Interest Rate Confirmation
Security Confirmation
Post-Closing Requirements
Ongoing Obligations
Contact Details
Reference Documents
Governing Law
Notice Requirements
Fee Confirmation
Insurance Requirements
Representations and Warranties
Document List
Acknowledgment
Conditions Precedent Satisfaction
Disbursement Terms
Loan Amount Confirmation
Interest Rate Confirmation
Security Confirmation
Post-Closing Requirements
Ongoing Obligations
Contact Details
Reference Documents
Governing Law
Notice Requirements
Fee Confirmation
Insurance Requirements
Representations and Warranties
Document List
Acknowledgment
Relevant Industries
Banking and Financial Services
Real Estate
Manufacturing
Retail
Technology
Healthcare
Construction
Infrastructure
Energy
Transportation
Hospitality
Education
Agriculture
Mining and Resources
Telecommunications
Relevant Teams
Legal
Compliance
Credit Risk
Loan Operations
Corporate Banking
Finance
Treasury
Corporate Secretarial
Risk Management
Banking Operations
Relevant Roles
Relationship Manager
Credit Officer
Loan Administrator
Legal Counsel
Compliance Officer
Chief Financial Officer
Financial Controller
Treasury Manager
Credit Risk Manager
Banking Operations Manager
Loan Operations Officer
Company Secretary
Finance Director
Corporate Banking Manager
Senior Loan Officer
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