A Credit Extension Letter is essential in Singapore's lending landscape, used when a financial institution approves a credit facility for a borrower. The document, governed by Singapore law and MAS regulations, serves as official confirmation of the credit terms and conditions. It includes crucial information such as facility limits, interest rates, tenure, security requirements, and conditions precedent. The letter forms part of the formal documentation required for credit facilities in Singapore and must comply with local banking regulations and disclosure requirements.
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1. Recipient Details: Full name and address of the borrower
2. Credit Facility Details: Amount, type, and purpose of credit facility being extended
3. Terms and Conditions: Interest rate, tenure, repayment schedule
4. Security Requirements: Details of any collateral or guarantees required
5. Conditions Precedent: Conditions that must be met before facility becomes effective
1. Special Conditions: Any specific conditions unique to this facility, used when non-standard terms apply
2. Fee Structure: Detailed breakdown of fees, used when multiple fees apply
3. Review Clause: Terms for periodic review, used for longer-term facilities
1. Facility Schedule: Detailed breakdown of credit facility terms and conditions
2. Fee Schedule: Comprehensive list of applicable fees and charges
3. Security Schedule: Details of securities/collateral provided
4. Repayment Schedule: Detailed payment timeline and amounts
Relevant legal definitions
Facility
Facility Amount
Interest Rate
SIBOR
Business Day
Conditions Precedent
Default Event
Security
Collateral
Guarantor
Repayment Date
Drawdown
Availability Period
Commitment Fee
Processing Fee
Bank's Base Rate
Maturity Date
Review Date
Facility Documents
Secured Property
Outstanding Amount
Interest Period
Margin
Security Documents
Default Interest
Material Adverse Change
Permitted Purpose
Relevant Authority
MAS
SGD
Facility Amount
Interest Rate
SIBOR
Business Day
Conditions Precedent
Default Event
Security
Collateral
Guarantor
Repayment Date
Drawdown
Availability Period
Commitment Fee
Processing Fee
Bank's Base Rate
Maturity Date
Review Date
Facility Documents
Secured Property
Outstanding Amount
Interest Period
Margin
Security Documents
Default Interest
Material Adverse Change
Permitted Purpose
Relevant Authority
MAS
SGD
Clauses
Credit Facility Terms
Interest and Fees
Repayment Terms
Security and Collateral
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Termination
Early Repayment
Review and Adjustment
Currency
Payment Mechanics
Default Interest
Set-off Rights
Force Majeure
Assignment
Confidentiality
Notices
Governing Law
Dispute Resolution
Amendments
Severability
Anti-Money Laundering
Compliance with Laws
Financial Covenants
Information Requirements
Security Enforcement
Credit Insurance
Interest and Fees
Repayment Terms
Security and Collateral
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Termination
Early Repayment
Review and Adjustment
Currency
Payment Mechanics
Default Interest
Set-off Rights
Force Majeure
Assignment
Confidentiality
Notices
Governing Law
Dispute Resolution
Amendments
Severability
Anti-Money Laundering
Compliance with Laws
Financial Covenants
Information Requirements
Security Enforcement
Credit Insurance
Relevant Industries
Relevant Teams
Relevant Roles
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