Document background
The Master Credit Agreement is designed for use in Canadian lending transactions where parties intend to establish a long-term credit relationship with multiple facilities or ongoing lending arrangements. It provides the overarching framework for current and future credit facilities, incorporating all necessary provisions required by Canadian federal and provincial regulations. This document is particularly valuable when the borrower may require various types of credit products over time, as it streamlines the process by establishing standard terms that apply across all facilities while allowing for specific terms through supplemental documentation. The agreement includes comprehensive provisions for financial covenants, security arrangements, representations and warranties, and regulatory compliance, making it suitable for complex corporate lending relationships while maintaining flexibility for future modifications.
