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Lc Finance Term for the Netherlands

Lc Finance Term Template for Netherlands

A Dutch law governed term loan finance agreement is a comprehensive legal document that establishes the terms and conditions for a fixed-term lending facility. It outlines the relationship between the lender(s) and borrower(s), detailing the loan amount, interest rates, repayment schedule, and associated obligations. The agreement incorporates specific Dutch legal requirements and banking regulations, including provisions from the Dutch Civil Code (Burgerlijk Wetboek) and Financial Supervision Act (Wet op het financieel toezicht). It contains detailed sections covering financial covenants, representations and warranties, events of default, and security arrangements if applicable.

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Lc Finance Term

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What is a Lc Finance Term?

The LC Finance Term agreement is a standardized yet customizable document used for establishing term loan facilities under Dutch law. It is typically employed when a borrower requires fixed-term financing for specific business purposes such as acquisitions, expansion, or refinancing existing debt. The document comprehensively addresses all aspects of the lending relationship, including facility terms, drawdown mechanics, repayment obligations, and lender protections. It incorporates specific Dutch legal requirements and market practices, making it suitable for transactions within the Netherlands or cross-border deals where Dutch law is chosen. The agreement can be adapted for bilateral or syndicated lending arrangements and can accommodate various security structures and guarantee arrangements as needed.

What sections should be included in a Lc Finance Term?

1. Parties: Identification of the lender(s), borrower(s), and any other parties to the agreement

2. Background: Context of the loan agreement and purpose of the facility

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

4. The Facility: Details of the loan facility, including amount, purpose, and availability

5. Conditions Precedent: Conditions that must be satisfied before the facility becomes available

6. Utilization: Process and requirements for drawing down the loan

7. Repayment: Terms and schedule for repayment of the loan

8. Prepayment and Cancellation: Provisions for early repayment and cancellation of the facility

9. Interest: Interest rate, calculation methods, and payment terms

10. Fees: All fees payable under the facility

11. Tax Gross Up and Indemnities: Provisions dealing with tax implications and related indemnities

12. Increased Costs: Provisions for dealing with changes in costs due to regulatory or legal changes

13. Representations and Warranties: Statements of fact and assurances given by the borrower

14. Information Undertakings: Borrower's obligations to provide financial and other information

15. Financial Covenants: Financial ratios and thresholds the borrower must maintain

16. General Undertakings: General obligations of the borrower regarding its business and operations

17. Events of Default: Circumstances that would trigger default and lender's remedies

18. Changes to Parties: Provisions regarding assignments and transfers

19. Payment Mechanics: Administrative provisions regarding payments

20. Notices: Communication requirements and contact details

21. Calculations and Certificates: Provisions regarding calculations and evidence of amounts due

22. Governing Law and Jurisdiction: Choice of Dutch law and jurisdiction provisions

What sections are optional to include in a Lc Finance Term?

1. Security: Required if the loan is secured - details of security arrangements and enforcement

2. Guarantee: Required if there are guarantors - terms of guarantee and guarantor obligations

3. Subordination: Required if there are multiple creditors - ranking and priority of payments

4. Set-off Rights: Optional provisions for set-off rights between parties

5. Bank Accounts: Required if specific account arrangements are needed - details of mandatory account structure

6. Disruption Events: Optional provisions for market or technical disruption events

7. Brexit Provisions: Optional provisions dealing with Brexit implications if relevant to the transaction

8. Majority Lenders: Required for syndicated loans - decision-making processes among multiple lenders

What schedules should be included in a Lc Finance Term?

1. Conditions Precedent Documents: List of required documents and conditions to be satisfied

2. Form of Utilization Request: Standard form for requesting drawdown of the facility

3. Form of Transfer Certificate: Standard form for transferring loan participations

4. Repayment Schedule: Detailed schedule of repayment dates and amounts

5. Form of Compliance Certificate: Template for periodic compliance reporting

6. Financial Covenant Calculations: Detailed methods for calculating financial covenants

7. Existing Security: Details of any existing security arrangements

8. Group Structure: Corporate structure chart of the borrower group

9. Contact Details: Detailed contact information for all parties

10. Form of Accession Deed: Standard form for new parties joining the agreement

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

Netherlands

Publisher

Ƶ

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions















































































Clauses






































Relevant Industries

Banking & Financial Services

Real Estate

Manufacturing

Technology

Healthcare

Energy & Utilities

Infrastructure

Retail & Consumer

Transportation & Logistics

Agriculture

Telecommunications

Relevant Teams

Legal

Finance

Treasury

Credit Risk

Compliance

Corporate Banking

Transaction Management

Financial Control

Corporate Finance

Loan Administration

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Legal Counsel

Corporate Lawyer

Finance Manager

Credit Risk Manager

Relationship Manager

Loan Officer

Compliance Officer

Corporate Banking Manager

Transaction Manager

Financial Controller

General Counsel

Banking Attorney

Industries








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