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Revolving Agreement Template for United States

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Key Requirements PROMPT example:

Revolving Agreement

"I need a Revolving Agreement for a $10 million credit facility between ABC Bank and TechGrowth Inc., with quarterly interest payments and a maturity date of March 15, 2025, including standard security provisions and financial covenants for a technology company borrower."

Document background
This Revolving Agreement template is designed for use in the United States jurisdiction when establishing flexible credit arrangements between financial institutions and corporate borrowers. The document is particularly valuable when parties require an ongoing credit relationship with the ability to draw down and repay funds multiple times within an agreed limit. It incorporates essential provisions required by US federal and state laws, including Truth in Lending Act compliance, UCC requirements, and relevant banking regulations. The agreement is structured to accommodate various security arrangements, financial covenants, and reporting requirements while maintaining flexibility for customization based on specific transaction needs and state law variations.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including their legal status and contact details

2. Background: Context of the agreement and the parties' intention to enter into a revolving arrangement

3. Definitions: Comprehensive list of defined terms used throughout the agreement

4. Facility Terms: Core terms of the revolving facility including credit limit, purpose, and availability period

5. Drawdown Mechanics: Procedures and conditions for requesting and receiving advances under the facility

6. Interest and Fees: Calculation and payment of interest, commitment fees, and other charges

7. Repayment Terms: Terms for repayment of advances, including minimum payments and prepayment provisions

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

9. Representations and Warranties: Standard declarations made by the borrower about their legal and financial status

10. Covenants: Ongoing obligations of the borrower during the term of the agreement

11. Events of Default: Circumstances that constitute default and their consequences

12. Security: Details of any security or guarantees supporting the facility

13. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction over disputes

Optional Sections

1. Multicurrency Provisions: Include when the facility can be drawn in multiple currencies

2. Increased Costs: Include when lender needs protection against regulatory changes affecting costs

3. Market Disruption: Include for facilities based on market interest rates to address market disruption scenarios

4. Tax Gross-up: Include when tax considerations require gross-up provisions

5. Agency Provisions: Include when multiple lenders are involved requiring an agent

6. Assignment and Transfer: Include when rights under the agreement may need to be transferred

7. Anti-Money Laundering Provisions: Include for facilities involving regulated financial institutions

8. Sanctions Compliance: Include when international transactions are contemplated

Suggested Schedules

1. Schedule 1 - Drawdown Notice Form: Standard form for requesting advances under the facility

2. Schedule 2 - Conditions Precedent Documents: List of required documents and conditions to be satisfied

3. Schedule 3 - Calculation of Interest and Fees: Detailed methodology for calculating interest and other charges

4. Schedule 4 - Repayment Schedule: Template or specific dates for repayment obligations

5. Schedule 5 - Security Documents: List and copies of security documents if applicable

6. Appendix A - Compliance Certificate: Form for periodic certification of compliance with agreement terms

7. Appendix B - Financial Covenants Calculations: Methodology for calculating financial covenants

8. Appendix C - Contact Details: List of authorized representatives and contact information

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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Relevant Industries

Banking and Financial Services

Manufacturing

Retail

Real Estate

Technology

Healthcare

Energy

Infrastructure

Transportation

Telecommunications

Agriculture

Construction

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Corporate Banking

Credit Administration

Operations

Account Management

Relevant Roles

Chief Financial Officer

Treasury Manager

Finance Director

Credit Manager

Corporate Lawyer

Legal Counsel

Relationship Manager

Risk Manager

Compliance Officer

Financial Controller

Account Manager

Corporate Banking Officer

Credit Analyst

Treasury Operations Manager

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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