The Inter Credit Agreement serves as the primary document governing credit relationships between financial institutions in India. It is typically used when one financial institution extends credit facilities to another, whether for liquidity management, industry-specific lending, or specialized financing arrangements. The agreement must comply with Indian banking regulations, RBI guidelines, and other relevant legislation such as the Banking Regulation Act, 1949, and SARFAESI Act. The document includes detailed provisions for facility terms, drawdown mechanisms, security arrangements, regulatory compliance requirements, and default remedies. It's particularly important in the Indian context where inter-bank lending and credit relationships are subject to strict regulatory oversight and specific legal requirements.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
Alternatively...
1. Parties: Identifies and provides details of the financial institutions entering into the agreement
2. Background: Sets out the context and purpose of the inter-credit arrangement
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules
4. The Facility: Details the credit facility, including amount, purpose, and availability period
5. Conditions Precedent: Specifies conditions that must be satisfied before the facility becomes available
6. Drawdown: Sets out the mechanism and process for drawing down the credit facility
7. Interest: Specifies interest rates, calculation methods, and payment periods
8. Repayment: Details the repayment schedule and mechanisms
9. Prepayment: Provisions regarding voluntary and mandatory prepayment
10. Representations and Warranties: Standard declarations made by both parties
11. Covenants: Positive and negative obligations of the parties
12. Events of Default: Lists circumstances constituting default and consequences
13. Changes to Parties: Provisions for assignment and transfer of rights
14. Administration: Covers operational aspects like payments, calculations, and notices
15. Governing Law and Jurisdiction: Specifies applicable law and dispute resolution mechanism
1. Security: Include when the facility is secured by specific assets or guarantees
2. Syndication Provisions: Required when multiple lenders are involved or syndication is contemplated
3. Increased Costs: Include when regulatory changes might affect lending costs
4. Market Disruption: Include for floating rate facilities to address market disruption scenarios
5. Tax Gross-Up and Indemnities: Include when tax implications need specific attention
6. Currency Provisions: Required when dealing with multiple currencies
7. Set-off Rights: Include when specific set-off arrangements are needed
8. Subordination: Include when the credit facility needs to be subordinated to other debt
1. Schedule 1 - Conditions Precedent Documents: List of documents required before facility becomes effective
2. Schedule 2 - Form of Drawdown Notice: Template for requesting drawdown under the facility
3. Schedule 3 - Repayment Schedule: Detailed repayment dates and amounts
4. Schedule 4 - Form of Transfer Certificate: Template for transferring rights and obligations
5. Schedule 5 - Financial Covenants Calculations: Formulas and methods for calculating financial covenants
6. Schedule 6 - Forms of Security Documents: Templates of security documentation if applicable
7. Appendix A - Interest Calculation Examples: Examples showing interest calculation methodology
8. Appendix B - Contact Details: List of authorized contacts and notice details for all parties
Authors
Find the document you need
Application For Credit Facility Letter
An Indian banking document used to formally request and document credit facilities from financial institutions, subject to RBI regulations and banking laws.
Download
Inter Credit Agreement
An Indian law-governed agreement establishing credit facilities between financial institutions, detailing lending terms and regulatory compliance requirements.
Download
Credit Partner Agreement
An Indian law-governed agreement establishing terms and conditions between a financial institution and credit partner for credit distribution and risk-sharing arrangements.
Download
Credit Card Settlement Agreement
An Indian law-governed agreement between a credit card issuer and cardholder to settle outstanding credit card debt for a reduced amount.
Download
Cash Credit Agreement
An Indian law-governed agreement establishing a revolving credit facility against current assets security, detailing credit limits, interest rates, and operational terms.
Download
General Credit Agreement
An Indian law-governed agreement establishing credit facility terms between lender and borrower, including loan conditions, security arrangements, and regulatory compliance requirements.
Download
Credit Swap Agreement
An Indian law-governed agreement facilitating the transfer of credit risk between financial institutions, subject to RBI and SEBI regulations.
Download
30 Day Credit Agreement
An Indian law-governed agreement establishing terms for a 30-day credit facility, including payment terms, interest, and enforcement provisions.
Download
Credit Service Agreement
An Indian law-governed agreement establishing terms and conditions for credit services between financial institutions and borrowers, ensuring regulatory compliance and protecting all parties' interests.
Download
Revolving Credit Facility Agreement
An Indian law-governed agreement establishing a revolving credit facility between lender and borrower, detailing terms for multiple drawdowns and repayments within an agreed limit.
Download
Employee Credit Card Agreement
An India-compliant agreement governing the issuance and usage of corporate credit cards by employees, outlining terms, responsibilities, and compliance requirements.
Download
Consumer Credit Contract
An Indian-law governed consumer credit agreement between financial institutions and individual borrowers, compliant with RBI guidelines and consumer protection laws.
Download
Letter Of Credit Agreement
An Indian law-governed agreement between a bank and an applicant establishing terms for Letter of Credit issuance, incorporating both local banking regulations and international standards.
Download
Credit Support Agreement
An Indian law-governed agreement establishing terms for providing collateral or credit support in financial transactions, compliant with local regulatory requirements.
Download
Credit Facility Letter
A formal letter issued by Indian banks/financial institutions outlining credit facility terms and conditions, governed by Indian banking laws and RBI guidelines.
Download
Credit Facilities Agreement
An Indian law-governed agreement establishing terms for credit facilities between lender and borrower, compliant with RBI regulations.
Download
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your data is private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
