The Facility Agreement serves as the primary document for documenting lending arrangements in India, whether for corporate financing, project funding, or working capital requirements. It is essential for any significant lending transaction and must comply with Indian banking laws, RBI regulations, and other relevant legislation. The agreement typically includes detailed provisions on facility limits, drawdown mechanisms, interest calculations, repayment schedules, security structures, and various protective clauses for the lender. It's particularly important in the Indian context due to specific regulatory requirements regarding priority sector lending, security creation, and foreign exchange regulations. The document is crucial for both bilateral and syndicated lending arrangements and must address unique aspects of Indian law such as stamp duty requirements and enforcement mechanisms under the SARFAESI Act.
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1. Parties: Identification of the lender(s), borrower(s) and any other parties to the agreement
2. Background: Brief context of the facility and purpose of the agreement
3. Definitions and Interpretation: Definitions of terms used in the agreement and interpretation rules
4. The Facility: Details of the facility amount, purpose, and availability period
5. Conditions Precedent: Conditions that must be satisfied before drawdown
6. Drawdown: Process and requirements for utilizing the facility
7. Interest: Interest rate, calculation periods, and payment provisions
8. Repayment: Terms and schedule for repayment of the facility
9. Prepayment: Voluntary and mandatory prepayment provisions
10. Tax Gross Up and Indemnities: Provisions for tax-related payments and indemnities
11. Representations and Warranties: Statements of fact and assurances given by the borrower
12. Information Undertakings: Obligations to provide financial and other information
13. Financial Covenants: Financial ratios and tests to be maintained
14. General Undertakings: Positive and negative obligations of the borrower
15. Events of Default: Circumstances that trigger default and enforcement rights
16. Changes to Parties: Assignment and transfer provisions
17. Administration: Administrative provisions including calculations and notices
18. Governing Law and Enforcement: Choice of law and jurisdiction provisions
1. Security: Required if the facility is secured - details of security structure and enforcement
2. Guarantee: Required if there are guarantors - terms of guarantee and indemnity
3. Increased Costs: Used in sophisticated facilities to address regulatory changes affecting lenders' costs
4. Market Disruption: Required for LIBOR/external benchmark-based facilities to address market disruption
5. Agent and Security Trustee Provisions: Required for syndicated facilities - role and duties of facility agent
6. Majority Lenders Decisions: Required for syndicated facilities - voting and decision-making processes
7. Currency Provisions: Required for multi-currency facilities - currency conversion and availability
8. Anti-Corruption Provisions: Detailed provisions for regulated lenders or cross-border facilities
1. Conditions Precedent: Detailed list of required documents and conditions
2. Form of Drawdown Request: Template for borrower to request utilization of the facility
3. Repayment Schedule: Detailed schedule of repayment dates and amounts
4. Form of Transfer Certificate: Template for transferring loans/commitments between lenders
5. Form of Compliance Certificate: Template for periodic financial covenant compliance certification
6. Existing Security: Details of any existing security interests
7. Form of Accession Deed: Template for additional parties joining the agreement
8. Financial Covenants Calculations: Detailed methodology for calculating financial covenants
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Retail
Energy
Transportation
Agriculture
Telecommunications
Mining
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Education
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Corporate Finance
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Operations
Company Secretarial
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Relevant Roles
Chief Financial Officer
Finance Director
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Company Secretary
Treasury Manager
Credit Manager
Risk Manager
Relationship Manager
Compliance Officer
Managing Director
Finance Manager
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Banking Operations Manager
Corporate Finance Manager
Financial Controller
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