Approbation of Financing Application

Letterhead

{{company_name}}

{{company_address}}

Tel: {{phone}}

Email: {{email}}

Website: {{website}}

Date and Reference

Date: {{date}}

Our Ref: {{our_reference_number}}

Your Ref: {{your_reference_number}}

Client Information

To: {{client_company_name}}

Attention: {{client_contact_person}}

Address: {{client_address}}

Subject: Approbation of Financing Application

Dear {{client_contact_person}},

We are pleased to inform you that your financing application has been reviewed and approved by our credit committee, subject to the terms and conditions outlined in this letter.

Approved Financing Details

Facility Type: {{facility_type}}

Approved Amount: {{currency}} {{approved_amount}} ({{approved_amount_in_words}})

Purpose of Facility: {{purpose_of_facility}}

Tenor/Duration: {{tenor}} months/years

Interest Rate: {{interest_rate}}% per annum, calculated on a {{interest_calculation_basis}} basis.

Repayment Schedule: {{repayment_schedule_description}} (e.g., monthly, quarterly, bullet repayment)

First Repayment Due Date: {{first_repayment_date}}

Conditions Precedent to Disbursement

The disbursement of the approved financing is conditional upon the fulfillment of the following conditions:

1. Execution of the Facility Agreement: Signing of a formal Facility Agreement detailing all terms and conditions of the financing.

2. Security Documentation: Perfection of all agreed-upon security documents, including but not limited to, {{security_documents_list}}.

3. Legal Opinion: Provision of a satisfactory legal opinion from your legal counsel.

4. Insurance: Presentation of insurance policies covering the financed assets, with {{company_name}} noted as the loss payee.

5. Other Conditions: {{other_conditions_precedent_list}}

Covenants and Undertakings

Throughout the tenor of the facility, you shall comply with the following covenants:

1. Financial Reporting: Submission of audited financial statements annually and management accounts quarterly.

2. Maintenance of Security: Ensure all secured assets are maintained in good condition and adequately insured.

3. Negative Pledge: Not to create or permit to subsist any mortgage, charge, pledge, lien or other encumbrance over any of its assets without our prior written consent.

4. Other Covenants: {{other_covenants_list}}

Fees and Charges

The following fees and charges will apply to this facility:

1. Arrangement Fee: {{currency}} {{arrangement_fee}} (one-off, payable upon acceptance)

2. Legal Fees: Payable as per actuals, for the preparation and perfection of security documents.

3. Other Fees: {{other_fees_description}}

Acceptance

Please signify your acceptance of these terms and conditions by signing and returning the duplicate copy of this letter within {{acceptance_period}} working days from the date hereof. Failure to do so may result in the withdrawal of this offer.

We look forward to a successful banking relationship with you.

Sincerely,

_________________________

{{authorised_signatory_name}}

{{authorised_signatory_title}}

For and on behalf of {{company_name}}

Acknowledged and Accepted By:

_________________________

{{client_representative_name}}

{{client_representative_title}}

For and on behalf of {{client_company_name}}

Date: {{acceptance_date}}