Line Of Credit Agreement

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Line Of Credit Agreement

Line Of Credit Agreement

{{lender_company_name}}

{{lender_company_address}}

{{lender_phone}}

{{lender_email}}

{{lender_website}}

Date: {{agreement_date}}

LINE OF CREDIT AGREEMENT

This Line of Credit Agreement (the “Agreement”) is made and entered into on this {{agreement_date}} by and between:

{{lender_company_name}}, a company duly incorporated under the laws of [Country, e.g., South Africa], with its registered office at {{lender_company_address}} (hereinafter referred to as the “Lender”);

AND

{{borrower_company_name}}, a company duly incorporated under the laws of [Country, e.g., South Africa], with its registered office at {{borrower_company_address}} (hereinafter referred to as the “Borrower”),

Each a “Party” and collectively, the “Parties”.

1. LINE OF CREDIT FACILITY

1.1. The Lender hereby agrees to establish a revolving line of credit facility (the “Facility”) in favour of the Borrower in the maximum principal amount of {{credit_limit_currency}} {{credit_limit_amount}} ({{credit_limit_words}}) (the “Credit Limit”).

1.2. The Borrower may, from time to time, request advances under the Facility up to the Credit Limit, provided that the aggregate principal amount outstanding at any time shall not exceed the Credit Limit.

1.3. Each advance requested by the Borrower shall be subject to the Lender’s approval and availability of funds.

2. INTEREST RATE AND FEES

2.1. The outstanding principal balance of the Facility shall bear interest at a rate of {{interest_rate_percent}}% per annum, calculated daily and payable {{interest_payment_frequency}}.

2.2. The Borrower shall pay to the Lender a facility fee of {{facility_fee_currency}} {{facility_fee_amount}} upon the execution of this Agreement.

2.3. All interest and fees shall be paid in {{currency_type}}.

3. REPAYMENT TERMS

3.1. The Borrower shall make monthly repayments of interest and any agreed principal amount on the {{payment_day_of_month}} day of each month, commencing on {{first_payment_date}}.

3.2. All outstanding principal, accrued interest, and any other fees or charges shall be due and payable in full on or before the Facility termination date of {{termination_date}}.

3.3. Payments shall be made to the Lender's designated bank account: Bank Name: {{lender_bank_name}}, Account Number: {{lender_account_number}}, Branch Code: {{lender_branch_code}}.

4. CONDITIONS PRECEDENT

4.1. The Lender’s obligation to make any advance under the Facility is conditional upon the Borrower providing all documents and information as may be requested by the Lender, including but not limited to, certified copies of constitutional documents, resolutions authorising the borrowing, and security documents.

4.2. The Borrower shall satisfy all conditions precedent as stipulated in Schedule A (if applicable) before any drawdown.

5. REPRESENTATIONS AND WARRANTIES

5.1. The Borrower represents and warrants that: (a) it is duly incorporated and validly existing under the laws of [Country]; (b) it has the corporate power and authority to enter into and perform its obligations under this Agreement; (c) the execution, delivery, and performance of this Agreement does not violate its constitutional documents or any law binding on it; and (d) all financial statements and information provided to the Lender are true and accurate in all material respects.

6. COVENANTS

6.1. The Borrower covenants to: (a) provide the Lender with its annual audited financial statements within {{days_for_financial_statements}} days of its financial year-end; (b) notify the Lender immediately of any material adverse change in its financial condition; (c) maintain adequate insurance cover for its assets; and (d) not incur additional indebtedness beyond {{maximum_additional_debt_currency}} {{maximum_additional_debt_amount}} without the Lender's prior written consent.

7. EVENTS OF DEFAULT

7.1. The occurrence of any of the following events shall constitute an event of default (each, an “Event of Default”): (a) failure by the Borrower to pay any amount due under this Agreement on the due date; (b) breach by the Borrower of any representation, warranty, or covenant contained in this Agreement; (c) insolvency or bankruptcy of the Borrower; (d) any material adverse change in the Borrower’s financial condition that, in the Lender’s opinion, jeopardizes the Borrower’s ability to repay the Facility.

8. GOVERNING LAW AND JURISDICTION

8.1. This Agreement shall be governed by and construed in accordance with the laws of [Country, e.g., South Africa].

8.2. The Parties irrevocably submit to the non-exclusive jurisdiction of the courts of [City, e.g., Johannesburg], [Country, e.g., South Africa] for the purpose of any legal action or proceedings arising out of or in connection with this Agreement.

SIGNATURES

IN WITNESS WHEREOF, the Parties have executed this Line of Credit Agreement on the date first above written.

FOR THE LENDER:

_____________________________

Name: {{lender_authorised_signatory_name}}

Title: {{lender_authorised_signatory_title}}

Date: {{lender_signature_date}}

FOR THE BORROWER:

_____________________________

Name: {{borrower_authorised_signatory_name}}

Title: {{borrower_authorised_signatory_title}}

Date: {{borrower_signature_date}}