Is a facility agreement a contract?

01/17/2021 Off By admin

Is a facility agreement a contract?

A loan agreement is regarded as a contract res (contrat rĂ©el) that is, a contract which can only be entered into if the lender effectively transfers the funds to the borrower, while a facility agreement is a mere promise of a loan, in other words a promise to transfer the funds to the borrower on his request, the …

What does a facility agreement do?

An agreement or letter in which a lender (usually a bank or other financial institution) sets out the terms and conditions (including the conditions precedent) on which it is prepared to make a loan facility available to a borrower. …

What is a facility loan agreement?

Loan or Loan Facility Agreement (Not Div 7A) A loan agreement is a contract between a borrower and a lender which regulates the mutual promises made by each party.

What is the margin in a facility agreement?

Facility Margin means (i) at any time during the Availability Period, 75 basis points and (ii) thereafter, 75 basis points plus an additional 25 basis points for each period of three consecutive Interest Periods during which any Loan remains outstanding.

What is senior facility agreement?

Senior Facility Agreement means the Facility Agreement dated 27 June 2016 (as amended from time to time) between, among others, Bendon Limited (as initial borrower) and the Debtor (as initial guarantor), and all other loan facility agreement(s) between (among others) the Senior Creditor and the Debtor from time to time …

What is Master Facility agreement?

It contains the type of facility, limits sanctioned to the Borrower w.r.t. Inventory Funding, CC, OD, TL, BG, LC etc, Rate of Interest, mode of repayment , penalties, processing fees, Security etc. The stamp paper for the above agreements, as applicable, should be in the name of the BORROWER.

What is Facility margin?

Margin Trading Facility (MTF) is a facility offered to an investor in buying of shares and securities from the available resources by allowing him to pay a fraction of the total transaction value called a margin. In short, it can be termed as leveraging a position in the market with cash or collateral by the investor.

What are working capital facilities?

Working Capital Facility means a committed or uncommitted revolving credit facility entered into by the Borrower or a Subsidiary to obtain working capital financing in the ordinary course of business.

What is a facility limit?

Credit limit (or facility limit) The maximum amount you can borrow under your home loan contract.

What is facility agent?

Acts as a facilitator between the lenders and the borrowers. The agency services depend upon the transaction structure but mainly includes the following: Monitoring compliance of pre-execution and post-execution conditions governing terms and conditions of credit facility.

What is Facility amount?

Facility Amount means the sum of the Aggregate Revolving Commitments and the Aggregate Term Loan Amount, as adjusted from time to time pursuant to the terms and conditions of this Agreement.