The Loan Commitment Agreement is a crucial document in German banking and finance practice, used when a lender agrees to make funds available to a borrower under specific terms and conditions. This document is particularly important as it creates a binding commitment before the actual loan agreement is executed. The agreement must comply with German banking regulations (KWG) and civil law requirements, including specific provisions of the German Civil Code (BGB). The Loan Commitment Agreement typically includes detailed terms regarding the commitment period, conditions precedent, drawdown mechanics, pricing, and key undertakings. It serves as a bridge between initial negotiations and the final loan agreement, providing certainty to both parties while ensuring compliance with German regulatory requirements.
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1. Parties: Identification of the lender and borrower with full legal names and addresses
2. Background: Context of the loan commitment, purpose, and any relevant pre-contractual arrangements
3. Definitions: Defined terms used throughout the agreement, including financial and technical terms
4. Loan Commitment: Core terms of the commitment including amount, currency, and availability period
5. Conditions Precedent: Prerequisites that must be satisfied before the loan commitment becomes effective
6. Interest and Fees: Interest rate provisions, commitment fees, and calculation methods
7. Drawdown Provisions: Process and requirements for requesting and receiving loan disbursements
8. Representations and Warranties: Statements of fact and assurances given by the borrower
9. Covenants: Ongoing obligations of the borrower during the commitment period
10. Events of Default: Circumstances that would allow the lender to terminate the commitment
11. Termination: Conditions and process for ending the commitment
12. Notices: Communication requirements and contact details
13. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction
14. Miscellaneous: Standard boilerplate provisions including severability and amendments
1. Security: Details of any collateral or guarantees, used when the loan commitment is secured
2. Financial Covenants: Specific financial metrics and requirements, included for corporate borrowers
3. Tax Provisions: Detailed tax considerations and gross-up provisions, relevant for cross-border transactions
4. Assignment and Transfer: Rights to transfer the commitment, included when transferability is permitted
5. Multiple Lenders: Syndication provisions, needed when multiple lenders are involved
6. Currency Provisions: Foreign exchange provisions, required for multi-currency facilities
7. Consumer Protection Clauses: Additional protections required when the borrower is a consumer
1. Form of Drawdown Request: Template for borrower to request loan disbursements
2. Conditions Precedent Documents: List of required documentation to be provided before effectiveness
3. Calculation of Interest and Fees: Detailed methodology for calculating interest and other charges
4. Form of Compliance Certificate: Template for periodic confirmation of covenant compliance
5. Security Details: Detailed description of any collateral or security arrangements
6. Required Insurance: Specifications of insurance coverage required for secured assets
7. Contact Details: Complete contact information for all parties and relevant personnel
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Corporate Lending
Real Estate
Manufacturing
Technology
Healthcare
Energy
Infrastructure
Retail
Transportation
Construction
Agriculture
Telecommunications
Relevant Teams
Legal
Finance
Treasury
Credit Risk
Compliance
Corporate Banking
Loan Administration
Documentation
Risk Management
Corporate Finance
Transaction Management
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Corporate Lawyer
Loan Officer
Credit Risk Manager
Relationship Manager
Compliance Officer
Banking Director
Credit Analyst
Financial Controller
Corporate Banking Manager
Structured Finance Manager
General Counsel
Senior Banker
Transaction Manager
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