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Term Facility Agreement

Term Facility Agreement Template for Pakistan

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Key Requirements PROMPT example:

Term Facility Agreement

"I need a Term Facility Agreement for a PKR 500 million secured term loan to a manufacturing company in Karachi, with quarterly repayments over 5 years starting March 2025, including specific covenants for environmental compliance and machinery maintenance."

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Document background
The Term Facility Agreement is a fundamental document used in Pakistani banking and finance transactions when a lender provides term loan financing to a borrower. It is particularly utilized for medium to long-term financing arrangements where funds are provided for specific purposes such as capital expenditure, project financing, or business expansion. The agreement must comply with Pakistani banking laws, including the Banking Companies Ordinance 1962 and State Bank of Pakistan regulations, while incorporating international banking practices where applicable. It contains detailed provisions covering facility terms, security arrangements, conditions for drawdown, financial covenants, and enforcement mechanisms. The document is crucial for both conventional and Islamic banking structures in Pakistan and requires careful consideration of local registration requirements, stamp duty implications, and regulatory approvals.
Suggested Sections

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

2. Background: Context of the facility and purpose of the loan

3. Definitions and Interpretation: Defined terms and interpretation principles used throughout the agreement

4. The Facility: Details of the loan amount, purpose, and availability period

5. Conditions Precedent: Conditions that must be satisfied before drawdown

6. Drawdown: Procedures and requirements for utilizing the facility

7. Interest: Interest rate, calculation methods, and payment provisions

8. Repayment: Terms and schedule for repayment of the facility

9. Prepayment: Provisions for voluntary and mandatory prepayment

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

11. Information Undertakings: Borrower's obligations to provide financial and other information

12. Financial Covenants: Financial ratios and tests the borrower must maintain

13. General Undertakings: Positive and negative obligations of the borrower

14. Events of Default: Circumstances that trigger default and lender's enforcement rights

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

16. Payment Mechanics: Administrative provisions for making payments

17. Costs and Expenses: Allocation of transaction costs and ongoing expenses

18. Notices: Communication procedures between parties

19. Governing Law and Enforcement: Choice of law and jurisdiction provisions

Optional Sections

1. Security: Include when the facility is secured by collateral or guarantees

2. Accordion Facility: Include when there's an option to increase the facility amount

3. Islamic Finance Provisions: Include for Shariah-compliant facilities

4. Multiple Currencies: Include when the facility can be drawn in different currencies

5. Syndication Provisions: Include for syndicated facilities with multiple lenders

6. Tax Gross-Up and Indemnities: Include when specific tax arrangements are required

7. Increased Costs: Include when lender can pass on regulatory cost increases

8. Set-off Rights: Include when specific set-off arrangements are needed

9. Anti-corruption Provisions: Include for compliance with specific anti-corruption requirements

10. Sustainability-Linked Provisions: Include when facility includes sustainability targets

Suggested Schedules

1. Conditions Precedent: Detailed list of required documents and conditions

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

3. Repayment Schedule: Detailed amortization schedule if applicable

4. Form of Compliance Certificate: Template for periodic compliance reporting

5. Form of Transfer Certificate: Template for transferring rights and obligations

6. Security Documents: List and copies of security documentation

7. Existing Security and Financial Indebtedness: Details of borrower's existing obligations

8. Form of Quarterly Financial Statements: Template for financial reporting

9. Group Structure: Corporate structure chart of borrower's group

10. Contact Details: List of authorized representatives and contact information

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

















































Clauses



































Relevant Industries

Banking

Financial Services

Infrastructure

Real Estate

Manufacturing

Energy

Telecommunications

Healthcare

Technology

Construction

Agriculture

Mining

Retail

Transportation

Hospitality

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Credit

Corporate Banking

Operations

Documentation

Company Secretariat

Corporate Finance

Transaction Management

Loan Administration

Security and Collateral

Relationship Management

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Legal Counsel

Corporate Lawyer

Banking Lawyer

Relationship Manager

Credit Officer

Risk Manager

Compliance Officer

Company Secretary

Finance Manager

Banking Operations Manager

Credit Analyst

Transaction Manager

Corporate Finance Manager

Documentation Officer

Facility Agent

Security Trustee

Loan Administrator

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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