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Debt Repayment Agreement
"I need a Debt Repayment Agreement for a commercial debt of 500,000 SAR between two Saudi companies, with monthly installments starting March 2025, secured by company equipment and requiring a corporate guarantor."
1. Parties: Identification of the creditor and debtor with full legal names and addresses
2. Background: Description of the original debt, its origin, and current status
3. Definitions: Key terms used throughout the agreement, including payment-related terminology
4. Acknowledgment of Debt: Formal acknowledgment of the debt amount and its validity under Sharia law
5. Repayment Terms: Detailed payment schedule, including amount, frequency, and method of payments
6. Method of Payment: Specified payment mechanisms and banking details
7. Debtor's Obligations: Key responsibilities of the debtor including payment obligations and reporting requirements
8. Creditor's Obligations: Responsibilities of the creditor including providing receipts and updating records
9. Events of Default: Circumstances constituting default and their consequences
10. Representations and Warranties: Statements of fact and assurances from both parties
11. Governing Law and Jurisdiction: Specification of Saudi law and Sharia compliance, jurisdiction for disputes
12. Notices: Communication methods and addresses for official notices
13. Execution: Signature blocks and execution requirements
1. Security: Details of any collateral or security provided for the debt - used when security is offered
2. Guarantor Provisions: Terms relating to any guarantors of the debt - included when there are third-party guarantors
3. Early Payment Provisions: Terms for early repayment options - included when early payment is permitted
4. Force Majeure: Provisions for unforeseen circumstances affecting repayment - used in longer-term agreements
5. Confidentiality: Terms regarding confidentiality of the agreement - used in commercial contexts
6. Insurance Requirements: Obligations to maintain insurance on any security - used when there is valuable collateral
7. Assignment: Rights to assign the debt or agreement - included for commercial debts
8. Debt Restructuring Mechanisms: Provisions for modifying payment terms - used in complex commercial agreements
1. Schedule 1 - Payment Schedule: Detailed breakdown of payment amounts and due dates
2. Schedule 2 - Original Debt Documentation: Copies or details of the original debt agreement or evidence
3. Schedule 3 - Security Details: Details of any security or collateral provided
4. Schedule 4 - Bank Account Details: Banking information for making payments
5. Appendix A - Calculation of Outstanding Amount: Detailed calculation of the total debt amount
6. Appendix B - Form of Payment Receipt: Template for payment acknowledgments
7. Appendix C - Communication Procedures: Detailed procedures for notices and communications
Authors
Original Debt
Outstanding Amount
Business Day
Creditor
Debtor
Default
Event of Default
Effective Date
Due Date
Instalment
Payment Date
Payment Schedule
Security
Guarantor
Guarantee
Force Majeure
Notices
Sharia Compliant
Early Payment
Default Notice
Breach
Cure Period
Material Adverse Effect
Original Debt Document
Repayment Period
Settlement Amount
Working Day
Authorized Representative
Bank Account
Confidential Information
Governing Law
Jurisdiction
Related Parties
Security Interest
Terms and Conditions
Default Rate
Warranties
Completion Date
Interpretation
Debt Acknowledgment
Payment Terms
Payment Method
Security
Representations and Warranties
Debtor Obligations
Creditor Obligations
Default
Early Payment
Force Majeure
Sharia Compliance
Governing Law
Dispute Resolution
Confidentiality
Notices
Assignment
Severability
Entire Agreement
Amendment
Third Party Rights
Counterparts
Good Faith
Waiver
Indemnification
Costs and Expenses
Term and Termination
Further Assurance
Guarantees
Records and Audit
Time of Essence
Banking and Financial Services
Real Estate
Construction
Manufacturing
Retail
Professional Services
Healthcare
Education
Technology
Transportation and Logistics
Energy
Agriculture
Small and Medium Enterprises
Consumer Services
Legal
Finance
Compliance
Risk Management
Treasury
Credit Control
Accounts Receivable
Corporate Affairs
Debt Recovery
Operations
Commercial
Business Development
Islamic Banking
Documentation
Chief Financial Officer
Finance Manager
Financial Controller
Credit Manager
Collections Manager
Legal Counsel
Compliance Officer
Sharia Compliance Officer
Risk Manager
Treasury Manager
Accounts Receivable Manager
Debt Recovery Specialist
Corporate Lawyer
Business Development Manager
Contract Administrator
Financial Analyst
Credit Analyst
Banking Relationship Manager
Company Secretary
Managing Director
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