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The Master Credit Agreement serves as the primary framework document for establishing and governing credit relationships between financial institutions and borrowers in the Philippines. It is particularly useful when parties anticipate multiple credit facilities or a series of related transactions over time, as it sets out the standard terms and conditions that will apply to all subsequent credit arrangements. This document type must comply with Philippine banking regulations, including the General Banking Law of 2000, BSP regulations, and other relevant financial legislation. The agreement typically includes detailed provisions for facility utilization, security arrangements, representations and warranties, covenants, and events of default, while being adaptable to various types of credit facilities and borrower needs. It's designed to provide a stable and comprehensive legal framework while maintaining flexibility for future credit arrangements.

1. Parties: Identification of the lender and borrower, including their complete legal names, addresses, and registration details

2. Background: Context of the agreement, relationship between parties, and purpose of the credit facility

3. Definitions: Detailed definitions of terms used throughout the agreement, including financial terms, dates, and technical terminology

4. Facility Details: Description of the credit facility, including type, amount, purpose, and availability period

5. Conditions Precedent: Conditions that must be satisfied before the facility becomes available

6. Drawdown Mechanics: Procedures and requirements for utilizing the credit facility

7. Interest and Fees: Interest rates, calculation methods, fee structures, and payment terms

8. Repayment Terms: Schedule and methods of repayment, prepayment provisions

9. Representations and Warranties: Statements of fact and assurances given by the borrower

10. Covenants: Positive and negative obligations of the borrower during the facility period

11. Events of Default: Circumstances that constitute default and their consequences

12. Security: Details of any security or guarantees provided for the facility

13. Boilerplate Provisions: Standard legal provisions including notices, amendments, governing law, and dispute resolution