The Loan and Security Agreement under Belgian law serves as a fundamental instrument in secured financing transactions, combining the elements of a credit facility with comprehensive security arrangements. This document is typically used when a lender requires collateral to secure a loan, ensuring proper protection under Belgian law while complying with local registration requirements and enforcement procedures. It incorporates specific provisions required by Belgian financial regulations, including compliance with the Belgian Pledge Act and Financial Law. The agreement is particularly relevant for both domestic Belgian transactions and cross-border financing where Belgian assets or entities are involved. It provides detailed provisions for loan disbursement, security creation, maintenance, and enforcement, while ensuring alignment with Belgian civil law principles and EU regulations.
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1. Parties: Identification of the Lender(s) and Borrower(s), including full legal names and registration details
2. Background: Context of the loan arrangement and security package
3. Definitions and Interpretation: Defined terms, rules of interpretation, and currency conventions
4. The Facility: Core loan terms including amount, purpose, and availability period
5. Interest: Interest rate, calculation methods, and payment provisions
6. Repayment: Repayment schedule, prepayment terms, and mandatory prepayment events
7. Security: Creation and terms of security interests, including scope and ranking
8. Representations and Warranties: Statements of fact and assurances from the Borrower
9. Covenants: Positive and negative obligations of the Borrower during the loan term
10. Events of Default: Circumstances constituting default and consequences
11. Enforcement: Rights and procedures for enforcing security upon default
12. Costs and Expenses: Allocation of transaction costs and ongoing expenses
13. Notices: Communication methods and contact details
14. Assignment and Transfer: Rules for transferring rights and obligations under the agreement
15. Governing Law and Jurisdiction: Belgian law as governing law and jurisdiction provisions
1. Syndication Provisions: Required for multiple lenders, including voting rights and agent provisions
2. Guarantee: Include when third-party guarantees are part of the security package
3. Subordination: Required when there are multiple creditors with different rankings
4. Tax Gross-Up and Indemnities: Detailed tax provisions for cross-border transactions
5. Increased Costs: Protection for lenders against regulatory changes affecting loan costs
6. Market Disruption: Provisions for handling interest rate benchmark disruptions
7. Multiple Currencies: Required for facilities involving multiple currencies
8. Insurance: Detailed insurance requirements for specific types of collateral
1. Conditions Precedent: List of required documents and conditions for loan drawdown
2. Form of Drawdown Request: Template for requesting loan disbursements
3. Repayment Schedule: Detailed amortization schedule if applicable
4. Security Documents: Forms of specific security documents and filing requirements
5. Collateral Description: Detailed description of all assets subject to security interests
6. Form of Compliance Certificate: Template for periodic financial covenant compliance reporting
7. Permitted Security Interests: List of pre-approved security interests
8. Existing Financial Indebtedness: Schedule of borrower's existing debt obligations
9. Contact Details: Comprehensive contact information for all parties
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