The Revolving Credit Agreement serves as the primary documentation for establishing a flexible credit facility under Dutch law, commonly used by companies seeking working capital financing or general corporate funding. It enables borrowers to draw down funds up to a predetermined limit, repay, and reborrow as needed during the facility term. The agreement incorporates mandatory provisions required by Dutch financial regulations, including the Wet op het financieel toezicht (Wft), and addresses key aspects such as interest calculation, security arrangements, and enforcement mechanisms specific to the Dutch jurisdiction. This document type is particularly suitable for ongoing business operations where funding needs fluctuate, offering more flexibility than fixed-term loans while maintaining robust legal protections for all parties.
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1. Parties: Identification of the lender(s), borrower(s), and any other parties to the agreement
2. Background: Context of the agreement and brief description of the parties' intentions
3. Definitions and Interpretation: Defined terms used throughout the agreement and rules of interpretation
4. The Facility: Core terms of the revolving credit facility including amount, purpose, and availability period
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 calculation, periods, and payment terms
9. Fees: Commitment fees, arrangement fees, and other applicable charges
10. Tax Gross Up and Indemnities: Provisions for tax-related payments and indemnities
11. Representations and Warranties: Statements of fact and assurances given by the borrower
12. Information Undertakings: Borrower's obligations to provide financial and other information
13. General Undertakings: Borrower's operational and financial covenants
14. Events of Default: Circumstances that allow the lender to cancel the facility and demand repayment
15. Changes to Parties: Rules for assignments and transfers
16. Payment Mechanics: Administrative provisions for making payments
17. Notices: Communication methods and contact details
18. Governing Law and Jurisdiction: Choice of Dutch law and jurisdiction provisions
1. Security: Required if the facility is secured, detailing the security package and enforcement rights
2. Guarantee: Include when there are guarantors supporting the borrower's obligations
3. Financial Covenants: Required for borrowers where financial ratio compliance is being monitored
4. Increased Costs: Protection for lenders against regulatory changes, typically included for institutional lenders
5. Set-off Rights: Include when parties want explicit rights to set off balances
6. Multi-currency Provisions: Required if the facility can be drawn in multiple currencies
7. Anti-corruption and Sanctions: Typically included for international transactions or when required by lender policy
8. Break Costs: Include for EURIBOR-based facilities where early repayment may cause lender losses
1. Conditions Precedent: Detailed list of required documents and conditions
2. Form of Utilisation Request: Standard form for drawdown requests
3. Form of Compliance Certificate: Template for periodic compliance reporting
4. Calculation of Interest Rate: Detailed methodology for interest calculations
5. Repayment Schedule: If applicable, schedule of repayment dates and amounts
6. Form of Transfer Certificate: Standard form for transferring commitments
7. Administrative Details: Contact details and account information for all parties
8. Form of Accession Deed: Template for additional borrowers or guarantors joining the facility
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