Facility Agreement Loan

Facility Agreement Loan Template for Philippines

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Key Requirements PROMPT example:

"I need a Facility Agreement Loan document for a PHP 50 million secured term loan to a manufacturing company, with quarterly repayments over 5 years starting March 2025, including specific covenants for maintaining minimum working capital and debt service coverage ratios."

Document background

The Facility Agreement Loan is a crucial financial instrument used in the Philippine business environment when a company or entity requires substantial financing for various business purposes, such as working capital, expansion, or project development. This document type is specifically structured to comply with Philippine banking regulations and corporate laws, including the General Banking Law of 2000 and BSP regulations. It outlines the complete relationship between lender and borrower, covering essential elements such as facility amount, interest calculations, security arrangements, conditions for drawdown, ongoing obligations, and enforcement mechanisms. The agreement becomes particularly important in complex financing scenarios, especially when dealing with corporate borrowers, multiple lenders, or when specific security arrangements are required. It serves as the primary reference document throughout the life of the loan facility, governing all aspects of the lending relationship and ensuring regulatory compliance.

Suggested Sections

1. Parties: Identification of the lender(s) and borrower(s) with complete legal names and addresses

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

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

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

5. Conditions Precedent: Conditions that must be satisfied before drawdown

6. Drawdown: Procedures and requirements for utilizing the facility

7. Interest: Interest rate, calculation methods, and payment provisions

8. Repayment: Terms and schedule of repayment including prepayment provisions

9. Fees and Expenses: All fees payable under the facility and allocation of expenses

10. Tax Provisions: Treatment of taxes, including withholding tax requirements

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

12. Covenants: Positive and negative undertakings of the borrower

13. Events of Default: Circumstances constituting default and consequences

14. Changes to Parties: Rules regarding assignment and transfer of rights/obligations

15. Administration: Administrative aspects including notices and calculations

16. Governing Law and Enforcement: Choice of law and jurisdiction provisions

Optional Sections

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. Syndication Provisions: Required for syndicated loans - rules governing relationship between multiple lenders

4. Increased Costs: Optional protection for lenders against regulatory changes affecting costs

5. Market Disruption: Optional provisions dealing with disruption to interest rate markets

6. Foreign Currency Provisions: Required if loan or payments involve foreign currency

7. Agency Provisions: Required for syndicated loans - appointment and duties of facility agent

8. Green Loan Provisions: Required for green loans - specific requirements and reporting obligations

Suggested Schedules

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

2. Form of Drawdown Request: Template for borrower to request loan disbursement

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

4. Form of Transfer Certificate: Template for transferring loan participations

5. Existing Security: Details of any existing security arrangements

6. Financial Covenants: Detailed financial covenants and calculation methods

7. Form of Compliance Certificate: Template for periodic compliance certification

8. Permitted Security: List of security interests permitted under the agreement

9. Contact Details: Contact information for all parties and notice requirements

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking and Financial Services

Real Estate and Property Development

Manufacturing and Industrial

Infrastructure and Construction

Energy and Utilities

Telecommunications

Agriculture and Agribusiness

Healthcare and Pharmaceuticals

Retail and Consumer Goods

Transportation and Logistics

Mining and Natural Resources

Technology and Software

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Credit

Corporate Banking

Operations

Documentation

Regulatory Affairs

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Corporate Lawyer

Legal Counsel

Compliance Officer

Risk Manager

Credit Manager

Relationship Manager

Banking Officer

Finance Manager

Corporate Secretary

Financial Controller

Loan Officer

Credit Analyst

Transaction Manager

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