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The Standby Credit Agreement serves as a crucial financial instrument in the U.S. market, providing businesses with access to contingent funding. It is typically used when companies need a backup source of liquidity or when required by counterparties as financial assurance. The agreement outlines specific circumstances under which the credit can be accessed, the process for drawing funds, and the obligations of all parties involved. This type of agreement is particularly relevant in today's market where companies seek flexible financing options while complying with U.S. banking regulations and state-specific requirements.

1. Parties: Identification of the lender and borrower, including full legal names and addresses

2. Background/Recitals: Context of the agreement and purpose of the standby credit facility

3. Definitions: Key terms used throughout the agreement including 'Facility Amount', 'Availability Period', 'Drawing Notice'

4. Facility Terms: Core terms including amount, purpose, availability period, and conditions for drawing

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

6. Drawing Mechanics: Procedures and requirements for drawing under the facility

7. Fees and Costs: All applicable fees, charges, and cost allocation

8. Representations and Warranties: Standard assurances from the borrower regarding their status and capacity

9. Events of Default: Circumstances constituting default and consequences