Credit Term Agreement Template for Saudi Arabia

1. Islamic Finance Provisions: Detailed Shariah compliance provisions, required when the agreement needs explicit Islamic finance structuring

2. Late Payment Provisions: Shariah-compliant provisions for handling late payments, including charitable donations in lieu of interest

3. Cross-Default: Provisions linking this facility to other financial obligations, used for larger corporate borrowers

4. Assignment and Transfer: Provisions allowing transfer of rights, needed for syndicated facilities or when transfer rights are required

5. Currency Provisions: Required for facilities involving multiple currencies or foreign exchange considerations

6. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in long-term facilities

1. Facility Details: Detailed breakdown of the credit facility, including amounts, profit rates, and payment schedules

2. Form of Drawdown Notice: Template for requesting drawdowns under the facility

3. Security Details: Detailed description of any security or collateral arrangements

4. Calculation of Profits: Methodology for calculating Shariah-compliant profits

5. Conditions Precedent Documents: List of required documents and conditions to be satisfied

6. Form of Compliance Certificate: Template for periodic compliance certification by the debtor

7. Contact Details: List of authorized representatives and contact information for both parties