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Master Asset Finance Agreement Template for India

A comprehensive legal agreement governed by Indian law that establishes a framework for multiple asset-based financing arrangements between a financial institution and a borrower. The agreement sets out the terms and conditions for financing various types of assets, including the facility structure, drawdown mechanisms, security arrangements, and ongoing obligations. It complies with Indian financial regulations, including RBI guidelines, SARFAESI Act, and other relevant banking laws, while providing flexibility for multiple transactions under a single master agreement structure.

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Master Asset Finance Agreement

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What is a Master Asset Finance Agreement?

The Master Asset Finance Agreement serves as a foundational document for establishing an ongoing financing relationship between financial institutions and borrowers in India. It is typically used when parties anticipate multiple asset financing transactions over time, avoiding the need to negotiate separate agreements for each transaction. The agreement incorporates key requirements under Indian banking regulations, including RBI guidelines, SARFAESI Act provisions, and security creation requirements. It covers essential elements such as facility terms, drawdown procedures, security structures, asset maintenance requirements, and enforcement mechanisms, while providing flexibility to accommodate various asset types and financing structures. This master agreement approach streamlines documentation requirements and ensures consistency across multiple transactions while maintaining compliance with Indian legal and regulatory requirements.

What sections should be included in a Master Asset Finance Agreement?

1. Parties: Identification of the finance provider and the borrower/customer, including registration details and addresses

2. Background: Context of the agreement, relationship between parties, and general purpose of the facility

3. Definitions and Interpretation: Comprehensive definitions of terms used throughout the agreement and rules of interpretation

4. Facility and Purpose: Details of the master facility, including nature, purpose, and overall limits

5. Conditions Precedent: Prerequisites that must be satisfied before any utilization under the facility

6. Drawdown Mechanism: Process and requirements for requesting and obtaining individual facilities under the master agreement

7. Asset Purchase and Ownership: Provisions regarding asset selection, purchase, and ownership arrangements

8. Payment Terms: Terms for repayment, interest calculations, fees, and payment mechanics

9. Security Structure: Creation and maintenance of security interests over financed assets

10. Representations and Warranties: Standard and specific declarations made by the borrower

11. Covenants: Positive and negative obligations of the borrower during the facility period

12. Asset Maintenance and Insurance: Requirements for maintaining and insuring financed assets

13. Events of Default: Circumstances constituting default and consequences thereof

14. Enforcement and Remedies: Rights and remedies available to the finance provider upon default

15. Indemnities: Protection for the finance provider against various risks and losses

16. Assignment and Transfer: Rights and restrictions regarding transfer of rights under the agreement

17. Notices: Process and requirements for formal communications between parties

18. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution

19. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, amendments

What sections are optional to include in a Master Asset Finance Agreement?

1. Guarantees: Required when third-party guarantees are part of the security structure

2. Special Asset Provisions: Specific provisions for particular asset classes (e.g., vehicles, machinery, real estate)

3. Cross-Default: Needed when multiple facilities or related agreements are involved

4. Currency Provisions: Required for cross-border transactions or multiple currency facilities

5. Tax Provisions: Detailed tax clauses needed for complex structures or cross-border transactions

6. Environmental Compliance: Required for assets or operations with environmental impact

7. Force Majeure: Detailed force majeure provisions if required for specific asset types or industries

8. Step-In Rights: Required when lender may need to take control of assets or operations

9. Electronic Documentation: Specific provisions for digital execution and maintenance of records

What schedules should be included in a Master Asset Finance Agreement?

1. Facility Terms Schedule: Specific terms, limits, and pricing for different types of facilities available

2. Asset Schedule: Template for describing assets to be financed under individual facilities

3. Form of Drawdown Request: Standard form for requesting individual facilities under the master agreement

4. Security Documents: Forms of various security documents required for different asset types

5. Conditions Precedent Documents: List of required documents and conditions for initial and subsequent drawdowns

6. Insurance Requirements: Detailed insurance requirements for different asset types

7. Fees and Charges: Comprehensive list of applicable fees, charges, and their calculation methods

8. Form of Asset Purchase Documentation: Standard forms for asset purchase and transfer

9. Authorized Representatives: List of authorized signatories and their powers

10. Compliance Certificates: Templates for periodic compliance reporting

Authors

Alex Denne

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

Jurisdiction

India

Publisher

Ƶ

Document Type

Finance Agreement

Cost

Free to use
Relevant legal definitions










































































Clauses









































Relevant Industries

Banking & Financial Services

Manufacturing

Infrastructure

Transportation & Logistics

Real Estate & Construction

Healthcare

Agriculture

Technology & IT

Telecommunications

Energy & Utilities

Mining & Resources

Retail & Consumer Goods

Education

Hospitality & Tourism

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Credit

Operations

Procurement

Business Development

Relationship Management

Portfolio Management

Documentation

Asset Management

Security Administration

Corporate Banking

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Financial Controller

Legal Counsel

Compliance Officer

Risk Manager

Credit Manager

Asset Manager

Operations Director

Procurement Manager

Business Development Manager

Account Manager

Relationship Manager

Corporate Banking Head

Security Trustee

Facility Agent

Documentation Specialist

Financial Analyst

Portfolio Manager

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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