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Secured Credit Agreement

Secured Credit Agreement Template for Pakistan

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Key Requirements PROMPT example:

Secured Credit Agreement

"I need a Secured Credit Agreement for a PKR 500 million manufacturing facility loan to be secured against industrial equipment and property, with quarterly repayments starting March 2025 and including specific covenants for environmental compliance."

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Document background
The Secured Credit Agreement is a fundamental document used in Pakistani banking and finance transactions where a lender provides credit facilities secured by assets or guarantees. This agreement is essential when financial institutions extend secured loans to corporate borrowers, requiring compliance with Pakistani banking regulations, particularly the Financial Institutions (Recovery of Finances) Ordinance 2001 and State Bank of Pakistan guidelines. The document encompasses facility terms, security creation, perfection requirements, enforcement mechanisms, and necessary covenants, making it suitable for various financing scenarios including corporate loans, project finance, and asset financing. It addresses specific Pakistani law requirements for security creation, registration, and enforcement, while incorporating local banking practices and regulatory requirements.
Suggested Sections

1. Parties: Identification of the lender, borrower, and any guarantors or security providers

2. Background: Context of the credit facility and security arrangement

3. Definitions and Interpretation: Definitions of key terms and interpretation rules

4. The Facility: Details of the credit facility including amount, purpose, and drawdown conditions

5. Security: Description of security interests being created and perfection requirements

6. Representations and Warranties: Borrower's confirmations regarding its status, capacity, and financial condition

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

8. Events of Default: Circumstances constituting default and consequences

9. Enforcement: Rights and remedies of the lender upon default

10. Payments and Calculations: Payment mechanics, interest calculations, and fee structures

11. Changes to Parties: Rules for assignment and transfer of rights/obligations

12. Administration: Notice requirements, amendments, and other administrative provisions

13. Governing Law and Jurisdiction: Choice of Pakistani law and jurisdiction provisions

Optional Sections

1. Guarantee: Required when third-party guarantors are providing additional credit support

2. Intercreditor Provisions: Needed when multiple lenders or ranking of security is involved

3. Islamic Finance Provisions: Required for Shariah-compliant financing structures

4. Currency Provisions: Needed for facilities involving foreign currency

5. Insurance: Detailed insurance requirements for secured assets

6. Tax Provisions: Specific tax-related provisions beyond standard tax gross-up

7. Agency Provisions: Required when facility involves multiple lenders with an agent

Suggested Schedules

1. Facility Details: Detailed terms of the facility including pricing, repayment schedule

2. Security Assets: Detailed description and particulars of secured assets

3. Conditions Precedent: List of required documents and conditions for facility effectiveness

4. Form of Drawdown Request: Template for borrower to request disbursement

5. Repayment Schedule: Detailed amortization or repayment schedule

6. Security Documents: Forms of security documents required for the facility

7. Financial Covenants: Detailed financial ratios and calculations

8. Form of Compliance Certificate: Template for periodic compliance certification

9. Existing Security: Details of any permitted existing security over assets

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






















































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Relevant Industries

Banking

Financial Services

Manufacturing

Real Estate

Infrastructure

Energy

Telecommunications

Agriculture

Technology

Healthcare

Construction

Mining

Retail

Transportation

Logistics

Relevant Teams

Legal

Finance

Risk Management

Compliance

Corporate Banking

Credit

Treasury

Corporate Secretarial

Security Operations

Loan Administration

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Corporate Lawyer

Banking Lawyer

Risk Manager

Credit Manager

Compliance Officer

Treasury Manager

Financial Controller

Security Trustee Officer

Relationship Manager

Credit Risk Officer

Corporate Banking Manager

Legal Manager

Company Secretary

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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