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Omnibus Loan And Security Agreement Template for Singapore

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Key Requirements PROMPT example:

Omnibus Loan And Security Agreement

"Need an Omnibus Loan And Security Agreement for a Singapore manufacturing company borrowing SGD 10 million against its factory assets and receivables, with both term loan and revolving credit facilities, to be completed by March 2025."

Document background
The Omnibus Loan And Security Agreement is designed for complex lending arrangements under Singapore law where multiple loan facilities and various forms of security need to be documented in a single, comprehensive agreement. This document type is particularly useful for corporate borrowing where different types of facilities (term loans, revolving facilities, trade finance) are combined with various security interests (fixed and floating charges, assignments, mortgages). It streamlines documentation by consolidating what would otherwise be multiple separate agreements, while ensuring compliance with Singapore's sophisticated financial services regulatory framework.
Suggested Sections

1. Parties: Identification and details of the lender(s) and borrower(s)

2. Background: Context of the loan arrangement and security package

3. Definitions and Interpretation: Key terms and their meanings used throughout the agreement

4. Facility Terms: Loan amount, interest rate, repayment terms, and conditions

5. Security Provisions: Details of all security interests being created

6. Representations and Warranties: Statements of fact and assurances from the borrower

7. Covenants: Positive and negative obligations of the borrower

8. Events of Default: Circumstances triggering default and remedies

9. Enforcement: Rights and remedies upon default

Optional Sections

1. Guarantee Provisions: Provisions governing third-party guarantors' obligations and rights when guarantors are involved in the transaction

2. Subordination Provisions: Provisions governing priority and ranking of different creditors when multiple creditors are involved

3. Intercreditor Provisions: Provisions governing the relationship between different classes of creditors in syndicated or multiple lender situations

Suggested Schedules

1. Schedule of Security Assets: Detailed list of all assets subject to security interest

2. Form of Drawdown Notice: Template for requesting loan disbursements

3. Conditions Precedent: List of documents and conditions required before drawdown

4. Repayment Schedule: Detailed payment dates and amounts

5. Form of Security Documents: Templates for specific security documents

6. Financial Covenants Schedule: Detailed financial ratios and requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






















































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Industries

Banking Act (Cap. 19): Primary legislation governing banking business and lending activities in Singapore, including requirements for licensed banks and financial institutions

Securities and Futures Act (Cap. 289): Regulates securities markets, secured lending arrangements, and provides framework for collateral arrangements and security interests

Conveyancing and Law of Property Act (Cap. 61): Contains provisions relating to mortgages and charges, and sets out requirements for creating security interests in property

Companies Act (Cap. 50): Governs registration requirements for company charges, corporate borrowing powers, and security provisions including corporate authorization requirements

Contract Law (Amendment) Act 2012: Provides framework for contract formation, enforcement, and contractual remedies in Singapore

Unfair Contract Terms Act (Cap. 396): Sets limitations on exclusion clauses and provides consumer protection provisions in contractual arrangements

Personal Data Protection Act 2012: Establishes requirements for handling and protecting borrower personal information

Moneylenders Act (Cap. 188): Regulates moneylending activities and may be applicable to certain lending arrangements

Land Titles Act (Cap. 157): Governs real property transactions and security interests in real property

Registration of Deeds Act (Cap. 269): Provides framework for registration and perfection of security interests and other instruments

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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