The Credit Loan Agreement serves as the primary documentation for credit facilities in Belgium, establishing the legal relationship between credit institutions and borrowers. This document is essential when any party seeks to obtain credit financing under Belgian law, whether for business expansion, asset acquisition, or other financing needs. The agreement must comply with strict Belgian regulatory requirements, including the Belgian Code of Economic Law and financial services regulations, while incorporating necessary consumer protection measures. It details crucial elements such as credit terms, interest calculations, security arrangements, and regulatory disclosures, ensuring all parties' rights and obligations are clearly defined and enforceable under Belgian jurisdiction.
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1. Parties: Identification of the lender and borrower(s), including full legal names, addresses, and registration details for legal entities
2. Background: Context of the loan agreement, purpose of the credit facility, and any relevant pre-contractual discussions
3. Definitions: Definitions of key terms used throughout the agreement, ensuring clarity and consistent interpretation
4. Loan Amount and Purpose: Specification of the credit amount, currency, and permitted use of the funds
5. Interest Rate and Calculations: Details of applicable interest rates (fixed or variable), calculation methods, and APR as required by Belgian law
6. Drawdown Conditions: Prerequisites and conditions for accessing the loan funds, including any documentary requirements
7. Repayment Terms: Schedule of repayments, payment methods, and prepayment provisions
8. Representations and Warranties: Statements of fact and assurances given by the borrower regarding their financial situation and capacity
9. Borrower Covenants: Ongoing obligations of the borrower during the term of the loan
10. Events of Default: Circumstances constituting default and their consequences
11. Security: Details of any collateral or guarantees securing the loan
12. Fees and Costs: All applicable fees, charges, and cost allocation between parties
13. Governing Law and Jurisdiction: Confirmation of Belgian law application and jurisdiction for disputes
1. Insurance Requirements: Required when the loan agreement includes mandatory insurance coverage for the borrower
2. Co-borrower Provisions: Required when there are multiple borrowers or guarantors
3. Special Drawdown Provisions: Used for complex loans with multiple tranches or special drawdown conditions
4. Tax Provisions: Detailed tax implications and responsibilities, particularly relevant for corporate borrowers
5. Assignment and Transfer: Required when transfer rights need to be specifically addressed
6. Data Protection: Detailed GDPR compliance provisions, particularly relevant for consumer loans
7. Force Majeure: Special provisions for unforeseeable circumstances affecting loan performance
1. Repayment Schedule: Detailed amortization table showing payment dates, amounts, and interest calculations
2. Drawdown Notice Form: Template form for requesting loan disbursements
3. Conditions Precedent: List of documents and conditions required before loan effectiveness
4. Security Details: Detailed description of collateral or security arrangements
5. Fee Schedule: Breakdown of all applicable fees and charges
6. Standard Forms: Templates for notices, certificates, and other routine communications
7. KYC Requirements: List of required customer due diligence documents and information
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