Non Recourse Loan Agreement for Singapore

Non Recourse Loan Agreement Template for Singapore

A Non-Recourse Loan Agreement under Singapore law is a specialized financing document where the lender's recovery is limited to specific collateral assets, typically used in project finance and real estate transactions. The agreement complies with Singapore's Banking Act, Moneylenders Act, and relevant MAS guidelines, incorporating specific provisions for security interests, default scenarios, and asset management requirements while limiting the lender's recourse solely to the designated collateral.

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What is a Non Recourse Loan Agreement?

The Non-Recourse Loan Agreement is a crucial financing instrument in Singapore's project finance and real estate sectors. It provides a structured framework for lending arrangements where the lender's recovery is strictly limited to specified collateral, typically high-value assets or revenue-generating projects. This document type, governed by Singapore law, is particularly valuable for project-specific financing where investors seek to ring-fence their liability. The agreement includes detailed provisions for security arrangements, collateral management, default scenarios, and recovery procedures, all while ensuring compliance with Singapore's regulatory framework, including the Banking Act and MAS guidelines.

What sections should be included in a Non Recourse Loan Agreement?

1. Parties: Identification and details of the lender and borrower

2. Background: Context of the loan and description of the secured asset

3. Definitions: Key terms used throughout the agreement

4. Loan Amount and Purpose: Specification of loan amount and permitted use

5. Security: Description of the collateral asset and security arrangements

6. Limited Recourse: Explicit limitation of recourse to the specified collateral

7. Interest and Payments: Interest rate, payment schedule, and calculation methods

8. Events of Default: Circumstances constituting default and consequences

9. Representations and Warranties: Statements of fact and assurances from both parties

What sections are optional to include in a Non Recourse Loan Agreement?

1. Insurance: Requirements for insuring the collateral asset when the collateral requires insurance protection

2. Property Maintenance: Obligations regarding maintenance of the secured property when the collateral is real estate or physical property

3. Assignment: Rights and restrictions regarding transfer of rights when transfer rights need to be specifically addressed

What schedules should be included in a Non Recourse Loan Agreement?

1. Schedule 1 - Property Description: Detailed description of the secured property/asset

2. Schedule 2 - Payment Schedule: Detailed repayment terms and dates

3. Schedule 3 - Conditions Precedent: List of conditions to be satisfied before loan disbursement

4. Appendix A - Form of Notice: Standard forms for notices under the agreement

5. Appendix B - Security Documentation: Forms of security documents and registrations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Infrastructure
Energy
Mining

Relevant Teams

Finance
Legal
Risk Management
Project Development
Treasury

Relevant Roles

Chief Financial Officer
Project Finance Manager
Real Estate Development Director
Risk Manager
Legal Counsel

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Tripartite Loan Agreement

A Singapore law-governed agreement establishing a three-party lending arrangement with security/guarantee provisions.

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What is a Non Recourse Loan Agreement?

What sections should be included in a Non Recourse Loan Agreement?

What sections are optional to include in a Non Recourse Loan Agreement?

What schedules should be included in a Non Recourse Loan Agreement?

Authors

Alex Denne

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