The Loan Agreement Between Companies is a critical document used for corporate financing transactions in Saudi Arabia, where business lending must comply with both modern commercial practices and Islamic law principles. This agreement is essential when one company wishes to provide financing to another while ensuring compliance with Sharia law's prohibition of conventional interest (riba). The document incorporates specific structural elements to achieve Sharia compliance, such as profit-sharing mechanisms or commodity murabaha structures, while maintaining commercial viability. It includes comprehensive provisions for security, representations, covenants, and events of default, all tailored to the Saudi Arabian legal framework. The agreement is particularly relevant for business expansion, project financing, working capital needs, or asset acquisition, and must align with SAMA regulations and the Saudi Companies Law.
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1. Parties: Identification of the lender and borrower companies, including registration details and addresses
2. Background: Context of the loan agreement and relationship between parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Sharia Compliance Declaration: Statement confirming the agreement's compliance with Islamic finance principles
5. Facility Amount and Purpose: Details of the loan amount and its intended use
6. Profit Rate and Payment Mechanism: Agreed profit rate (instead of interest) and calculation methodology
7. Disbursement Terms: Conditions and process for disbursement of the loan
8. Repayment Terms: Schedule and mechanism for repayment of the principal amount
9. Representations and Warranties: Statements of fact and assurances from the borrower
10. Conditions Precedent: Conditions that must be satisfied before disbursement
11. Covenants: Ongoing obligations of the borrower during the loan term
12. Events of Default: Circumstances constituting default and consequences
13. Security: Details of any security or collateral provided
14. Termination: Circumstances and process for early termination
15. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution mechanism
1. Guarantees: Terms of any corporate or personal guarantees - include when third-party guarantees are provided
2. Assignment and Transfer: Rights to assign or transfer the loan - include for syndicated loans or when transfer rights are needed
3. Cost and Expenses: Allocation of costs - include when significant transaction costs are involved
4. Islamic Structure Specifics: Detailed Islamic finance structure (e.g., Murabaha, Ijara) - include when using specific Islamic financing structures
5. Multiple Drawdown Provisions: Terms for multiple disbursements - include for facility agreements with multiple drawdowns
6. Tax Provisions: Tax implications and responsibilities - include when cross-border elements exist
7. Currency Provisions: Currency conversion and risk allocation - include for multi-currency facilities
1. Facility Summary: Detailed breakdown of the facility amount, profit rate, and payment schedule
2. Form of Drawdown Notice: Template for requesting loan disbursements
3. Conditions Precedent Documents: List of required documents and conditions
4. Security Details: Detailed description of security/collateral arrangements
5. Calculation of Profit: Detailed methodology for profit calculation
6. Form of Compliance Certificate: Template for periodic compliance reporting
7. Corporate Authorizations: Required corporate approvals and resolutions
8. Sharia Structure Documentation: Details of Islamic finance structure and compliance requirements
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Islamic Finance
Corporate Lending
Real Estate & Construction
Manufacturing
Energy & Resources
Technology
Healthcare
Retail & Consumer
Transportation & Logistics
Industrial & Infrastructure
Agriculture & Food
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Corporate Banking
Islamic Banking
Credit
Corporate Governance
Business Development
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Lawyer
Sharia Compliance Officer
Treasury Manager
Financial Controller
Risk Manager
Corporate Banking Manager
Business Development Director
Company Secretary
Compliance Officer
Credit Risk Officer
Investment Manager
Corporate Finance Manager
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