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Line Of Credit Promissory Note
"I need a Line of Credit Promissory Note for a secured corporate facility of IDR 5 billion with PT Indo Manufacturing as borrower, including provisions for quarterly interest payments and mandatory prepayment from asset sales, with a maturity date of March 15, 2025."
1. Parties: Identification of the lender (bank/financial institution) and borrower with complete legal names and addresses
2. Background: Brief context of the credit facility arrangement and relationship between parties
3. Definitions: Key terms used throughout the document including 'Credit Limit', 'Interest Rate', 'Draw Down', etc.
4. Promise to Pay: Unconditional promise to pay the principal amount drawn under the facility plus interest
5. Credit Facility Terms: Details of the credit limit, availability period, and draw down mechanisms
6. Interest Rate and Calculations: Specification of interest rate(s), calculation method, and payment periods
7. Repayment Terms: Payment schedule, minimum payments, and final maturity date
8. Events of Default: Circumstances constituting default and consequences thereof
9. Representations and Warranties: Standard declarations by the borrower regarding their capacity and authority
10. Governing Law: Specification of Indonesian law as governing law and jurisdiction
11. Execution: Signature blocks and execution requirements
1. Security Arrangements: Required if the line of credit is secured by collateral or assets
2. Guarantor Provisions: Included when there is a third-party guarantor for the credit facility
3. Foreign Currency Provisions: Required if the facility is denominated in a currency other than Indonesian Rupiah
4. Insurance Requirements: Included when specific insurance coverage is required for secured assets
5. Cross-Default Provisions: Added when the note should be linked to other credit facilities or agreements
6. Automatic Debit Authorization: Optional section for automatic payment arrangements from a designated account
1. Draw Down Schedule: Template and procedures for requesting draws under the facility
2. Repayment Schedule: Detailed payment schedule including minimum payments and due dates
3. Interest Rate Calculation Examples: Illustrations of interest calculations and payment scenarios
4. Security Details: Detailed description of any collateral or security arrangements
5. Fees Schedule: Breakdown of all applicable fees and charges
6. Required Forms: Standard forms for draw down requests, notices, and other communications
Authors
Available Credit
Banking Day
Base Rate
Borrower
Business Day
Credit Facility
Credit Limit
Default Interest Rate
Default Rate
Draw Down
Draw Down Date
Draw Down Notice
Draw Down Period
Effective Date
Event of Default
Facility
Final Maturity Date
Financial Indebtedness
Guarantor
Interest Payment Date
Interest Period
Interest Rate
Lender
Line of Credit
Margin
Material Adverse Effect
Minimum Payment
Outstanding Amount
Payment Date
Permitted Purpose
Principal Amount
Repayment Date
Repayment Schedule
Security
Security Documents
Secured Obligations
Taxes
Term
Unutilized Amount
Promise to Pay
Draw Down
Interest
Repayment
Security
Representations and Warranties
Covenants
Events of Default
Acceleration
Payment Mechanics
Set-off
Currency
Taxes
Costs and Expenses
Indemnification
Assignment
Notices
Amendments
Severability
Waiver
Force Majeure
Confidentiality
Governing Law
Dispute Resolution
Entire Agreement
Banking
Financial Services
Commercial Lending
Corporate Finance
Small Business Finance
Real Estate
Manufacturing
Trade Finance
Retail
Agriculture
Construction
Infrastructure
Legal
Finance
Treasury
Credit Risk
Compliance
Corporate Banking
Commercial Banking
Risk Management
Operations
Business Development
Chief Financial Officer
Finance Director
Treasury Manager
Credit Manager
Banking Relationship Manager
Loan Officer
Corporate Lawyer
Legal Counsel
Finance Manager
Accounts Manager
Risk Manager
Compliance Officer
Corporate Secretary
Business Development Manager
Financial Controller
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