The Facilities Agreement is a crucial document in Malaysian corporate financing that establishes the legal framework for lending arrangements between financial institutions and borrowers. It is used when a lender agrees to provide financial facilities such as term loans, revolving credits, or Islamic financing to a borrower. The agreement must comply with Malaysian banking regulations, including the Financial Services Act 2013 and, where applicable, the Islamic Financial Services Act 2013. It contains detailed provisions on facility terms, security arrangements, representations and warranties, covenants, and events of default. The document is essential for both conventional and Islamic banking transactions in Malaysia's dual banking system and must incorporate local legal requirements, including security registration, stamp duty provisions, and Central Bank guidelines.
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1. Parties: Identification of the lender(s), borrower(s), and any guarantors or security providers
2. Background: Context of the facility arrangement and purpose of the loan
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and interpretation rules
4. The Facilities: Description of the facility type(s), amount(s), and purpose
5. Conditions Precedent: Prerequisites that must be satisfied before facility utilization
6. Utilisation: Procedures and requirements for drawing down the facility
7. Interest: Interest rates, calculation methods, and payment provisions
8. Repayment and Prepayment: Terms for scheduled repayments and voluntary/mandatory prepayments
9. Security: Overview of security arrangements and enforcement rights
10. Representations and Warranties: Statements of fact and assurances given by the borrower
11. Covenants: Positive and negative undertakings of the borrower
12. Events of Default: Circumstances constituting default and consequences
13. Changes to Parties: Rules for assignment and transfer of rights/obligations
14. Administration: Operational aspects including payments, calculations, and notices
15. Governing Law and Enforcement: Choice of law and jurisdiction provisions
1. Islamic Banking Provisions: Required when the facility is Shariah-compliant, including specific Islamic banking principles and requirements
2. Syndication Provisions: Required for syndicated facilities, including roles of facility agent and security trustee
3. Increased Costs and Tax Provisions: Detailed provisions for addressing regulatory changes and tax implications, typically for larger facilities
4. Market Disruption: Provisions dealing with LIBOR/KLIBOR discontinuation or market disruption events
5. Multi-currency Provisions: Required when the facility allows drawdowns in multiple currencies
6. Security Trustee Provisions: Required when security is held on trust for multiple lenders
7. Commodity Murabahah Provisions: Specific provisions for Islamic facilities structured as commodity murabahah
8. Force Majeure: Specific provisions dealing with unforeseen circumstances affecting facility performance
1. Conditions Precedent: Detailed list of required documents and conditions
2. Form of Utilisation Request: Standard form for drawdown requests
3. Repayment Schedule: Detailed schedule of repayment dates and amounts
4. Security Documents: List and copies of all security documents
5. Form of Transfer Certificate: Standard form for transferring facility participations
6. Calculation of the Interest Rate: Detailed methodology for interest calculation
7. Form of Compliance Certificate: Template for periodic compliance certification
8. Security Properties: Details of properties or assets provided as security
9. Existing Encumbrances: List of permitted existing security interests
10. Form of Notices: Standard forms for various notices under the agreement
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Corporate Finance
Real Estate
Manufacturing
Construction
Infrastructure
Energy
Telecommunications
Healthcare
Retail
Hospitality
Technology
Agriculture
Mining and Resources
Transportation and Logistics
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Credit
Corporate Banking
Islamic Banking
Documentation
Corporate Finance
Business Development
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Corporate Lawyer
Compliance Officer
Risk Manager
Credit Manager
Banking Relationship Manager
Loan Officer
Company Secretary
Financial Controller
Islamic Banking Officer
Security Documentation Officer
Corporate Finance Manager
Business Development Manager
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