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Development Credit Agreement
"I need a Development Credit Agreement for a 50 million USD renewable energy project in Gujarat, India, where the borrower is a state-owned enterprise and specific environmental compliance clauses are required."
1. Parties: Identification of the credit provider and the borrower, including their legal status and registered addresses
2. Background: Context of the development project, purpose of the credit facility, and brief overview of the arrangement
3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules of interpretation
4. The Credit Facility: Details of the credit amount, purpose, and basic terms of the facility
5. Conditions Precedent: Conditions that must be satisfied before the credit facility becomes effective or disbursements can be made
6. Disbursement Procedures: Mechanisms and procedures for drawing down the credit facility
7. Repayment Terms: Schedule and methods of repayment, including principal and interest calculations
8. Interest and Fees: Interest rate provisions, calculation methods, and applicable fees
9. Representations and Warranties: Statements of fact and assurances given by the borrower
10. Covenants: Positive and negative obligations of the borrower during the term of the agreement
11. Project Implementation: Requirements and obligations regarding the implementation of the development project
12. Monitoring and Reporting: Requirements for project monitoring and periodic reporting
13. Events of Default: Circumstances constituting default and consequences thereof
14. Remedies: Rights and remedies available to the lender in case of default
15. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes
1. Security: Required if the credit facility is secured by any assets or guarantees
2. Environmental and Social Requirements: Include when the project has significant environmental or social impact considerations
3. Procurement Procedures: Required when the credit facility involves specific procurement requirements for project implementation
4. Anti-Corruption Provisions: Enhanced provisions when required by institutional policies or high-risk contexts
5. Force Majeure: Detailed force majeure provisions when project implementation faces significant external risks
6. Assignment and Transfer: Include when either party may need to transfer rights or obligations
7. Technical Assistance: Required when the credit facility includes technical support components
8. Currency and Exchange Rate Provisions: Include for facilities involving multiple currencies or exchange rate risks
1. Project Description: Detailed description of the development project, its components, and implementation plan
2. Disbursement Schedule: Detailed schedule of planned disbursements and associated conditions
3. Repayment Schedule: Detailed amortization schedule showing principal and interest payments
4. Security Details: Description of security arrangements, if applicable
5. Project Implementation Schedule: Timeline and milestones for project implementation
6. Reporting Requirements: Formats and templates for required project reports
7. Environmental and Social Management Plan: Detailed plans for managing environmental and social impacts
8. Procurement Guidelines: Detailed procurement procedures and requirements
9. Forms of Notices: Standard forms for various notices under the agreement
10. Key Personnel: List of key project personnel and their responsibilities
Authors
Infrastructure Development
Urban Development
Rural Development
Healthcare
Education
Agriculture
Renewable Energy
Water and Sanitation
Transportation
Housing
Social Infrastructure
Environmental Protection
Digital Infrastructure
Industrial Development
Public Services
Legal
Finance
Project Management
Risk Management
Compliance
Treasury
Credit
Environmental and Social
Operations
Technical Advisory
Contract Administration
Procurement
Chief Financial Officer
Project Director
Legal Counsel
Finance Manager
Compliance Officer
Project Manager
Risk Manager
Development Finance Specialist
Environmental Compliance Officer
Social Impact Specialist
Treasury Manager
Contract Administrator
Financial Controller
Credit Risk Officer
Program Director
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