The Company Loan Agreement is essential for corporate financing transactions in Saudi Arabia, where all financial dealings must comply with Islamic Shariah principles and local regulations. This document is used when a company seeks to obtain financing from a financial institution or another corporate entity, structured in a Shariah-compliant manner. It covers crucial elements including the facility amount, profit rate mechanism, security arrangements, representations and warranties, and covenants. The agreement must align with Saudi Arabian law, particularly the Commercial Courts Law, Companies Law, and SAMA regulations, while incorporating appropriate Islamic financing structures such as Murabaha or Ijarah. It's typically used for corporate expansions, working capital needs, asset acquisition, or project financing, and requires careful consideration of both commercial and Shariah compliance aspects.
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1. Parties: Identification of the lender and borrower, including full legal names, commercial registration numbers, and authorized representatives
2. Background: Context of the loan agreement, relationship between parties, and purpose of the facility
3. Definitions and Interpretation: Key terms used in the agreement and rules for interpreting the document
4. Facility: Details of the loan amount, purpose, and Shariah-compliant structure
5. Conditions Precedent: Conditions that must be satisfied before the loan can be drawn
6. Drawdown: Procedures and requirements for requesting and receiving loan disbursements
7. Repayment Terms: Schedule and mechanism for repayment of the principal amount
8. Profit Rate: Shariah-compliant profit rate structure and calculation methodology
9. Security: Details of collateral and security arrangements
10. Representations and Warranties: Statements of fact and assurances given by the borrower
11. Covenants: Positive and negative obligations of the borrower during the loan term
12. Events of Default: Circumstances that constitute default and consequences
13. Indemnities: Borrower's obligations to compensate the lender for specified losses
14. Notices: Communication procedures between parties
15. Governing Law and Jurisdiction: Application of Saudi law and jurisdiction of Saudi courts
16. Execution: Signature blocks and execution requirements
1. Islamic Structure Provisions: Detailed provisions for specific Islamic financing structures (e.g., Murabaha, Ijarah) - include when using particular Islamic financing methods
2. Guarantees: Terms of any third-party guarantees - include when guarantors are involved
3. Assignment and Transfer: Provisions for transferring rights under the agreement - include for transferable facilities
4. Syndication Provisions: Terms for multiple lenders - include for syndicated facilities
5. Agency Provisions: Terms for appointment and authority of facility agent - include for syndicated or administered facilities
6. Early Payment: Terms for voluntary prepayment - include when early repayment is permitted
7. Additional Security Rights: Provisions for additional security arrangements - include when complex security structure is required
1. Facility Details: Detailed terms of the facility including amount, profit rate, and payment schedule
2. Conditions Precedent Documents: List of required documents and conditions to be satisfied
3. Form of Drawdown Notice: Template for requesting loan disbursements
4. Repayment Schedule: Detailed schedule of repayment dates and amounts
5. Security Documents: Forms of security documents and collateral arrangements
6. Form of Compliance Certificate: Template for periodic compliance reporting
7. Calculation of Profit Rate: Detailed methodology for calculating Shariah-compliant profit
8. Corporate Authorizations: Required corporate approvals and resolutions
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Islamic Finance
Real Estate & Construction
Manufacturing & Industrial
Energy & Resources
Healthcare
Technology & Communications
Retail & Consumer Goods
Transportation & Logistics
Agriculture & Food Production
Relevant Teams
Legal
Finance
Compliance
Treasury
Risk Management
Corporate Banking
Islamic Banking
Credit
Corporate Advisory
Deal Structuring
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Compliance Officer
Shariah Compliance Manager
Corporate Finance Manager
Treasury Manager
Risk Manager
Credit Officer
Corporate Banking Manager
Islamic Banking Specialist
Financial Controller
Company Secretary
Business Development Manager
Corporate Relationship Manager
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