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Credit Agreement Form

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Second Amended and Restated Credit Agreement

This agreement is made as of December 16, 1999, among SBA Communications Corporation, SBA Telecommunications, Inc., the Lenders, and the Agents identified below.

Holdings:

Borrower:

Agreement Date:

Recitals

WHEREAS, the Borrower is party to an existing credit agreement dated February 5, 1999, and has requested amendments including an increase in commitments and the addition of a Tranche B Term Loan Facility.

NOW, THEREFORE, the parties agree that the Existing Credit Agreement shall be amended and restated in its entirety as set forth below.

Section 1. Definitions

The following terms are used throughout this Agreement:

"Acceptable Tenant":

"Adjusted EBITDA":

"Administrative Agent":

"Agreement":

"Application":

"Asset Sale":

"Base Rate":

"Borrower":

"Business Day":

"Capital Expenditures":

"Cash Equivalents":

"Closing Date":

"Consolidated EBITDA":

"Consolidated Net Income":

"Default":

"Developmental Tower":

"Eurodollar Loans":

"Event of Default":

"Facility":

"Foreign Subsidiary":

"Guarantee and Collateral Agreement":

"Indebtedness":

"Interest Period":

"L/C Commitment":

"Material Adverse Effect":

"Mortgaged Properties":

"Net Cash Proceeds":

"Revolving Credit Commitment":

"Revolving Credit Termination Date":

"Security Documents":

"Solvent":

"Transition Date":

"Tower":

Section 2. Amount and Terms of Commitments

The following loan commitment terms apply under this Agreement.

Tranche A Term Loan Commitment:

Tranche B Term Loan Commitment:

Total Revolving Credit Commitments on Commitment Increase Date:

Revolving Credit Termination Date:

Section 3. Letters of Credit

L/C Commitment:

Issuing Lender:

Letter of Credit Application:

Section 4. Representations and Warranties

The Loan Parties make the following representations and warranties.

No Material Adverse Effect since December 31, 1998:

All required approvals obtained:

Financial statements prepared in accordance with GAAP:

No Default or Event of Default continuing:

All taxes filed and paid:

Environmental compliance satisfactory:

Section 5. Conditions Precedent

The following conditions must be satisfied before the applicable extensions of credit are made.

Closing Date:

Second Amendment and Restatement Effective Date:

All Loan Documents delivered:

All approvals obtained:

Legal opinions delivered:

Lien searches completed with satisfactory results:

Section 6. Affirmative Covenants

The Borrower and Holdings agree to provide the following financial statements and certificates.

Annual audited financial statements due within 90 days after fiscal year end:

Quarterly financial statements due within 45 days after quarter end:

Monthly financial statements due within 45 days after month end:

Compliance Certificate delivered with financial statements:

Signature Sections

Holdings Signature

By:

Title:

Date:

Borrower Signature

By:

Title:

Date:

Administrative Agent

By:

Title:

Date:

Arranger / LBI

By:

Title:

Date:

Additional Information

Any additional terms, schedules, or exhibits may be attached as supplemental documentation.

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What a Credit Agreement Form Is and when it’s used

A Credit Agreement Form is a written contract that sets the terms under which a lender extends credit to a borrower, including principal amount, interest rate, repayment schedule, covenants, default remedies, and collateral descriptions. It governs rights and obligations of all parties, creates enforceable promises when properly executed, and often accompanies related filings such as UCC-1 financing statements or mortgage instruments depending on the transaction.

Why a clear, complete Credit Agreement Form matters

A well-drafted Credit Agreement reduces ambiguity about repayment, secures lender remedies, allocates risk, and supports enforceability in collections or litigation. Proper signatures, authentication, and retention also ensure the document meets electronic-signature legal tests under ESIGN (15 U.S.C. §7001) and state UETA rules.

Why a clear, complete Credit Agreement Form matters

Who typically prepares or signs a Credit Agreement Form

Lenders, borrowers, counsel, and loan servicing teams commonly prepare and execute credit agreements; external parties may include trustees or guarantors.

  • Banks and credit unions: Document and enforce loan terms, collateral, covenants, and reporting requirements for commercial and consumer loans.
  • Private lenders and investors: Use standardized forms or bespoke agreements for promissory notes, secured loans, and mezzanine financing.
  • Borrower executives and counsel: Review covenants, negotiating flexibility, and confirm authority to bind the borrower entity.

Responsibility for accuracy typically sits with the lender’s documentation team and the borrower’s legal representative; both should confirm signatures, exhibits, and attached schedules.

Core sections you’ll find in a professional Credit Agreement

A complete credit agreement organizes rights and duties clearly and includes attachments that operationalize repayment, collateral, and reporting.

Loan Terms

Principal, interest rate (fixed or variable), payment amounts, amortization schedule, prepayment terms and fees, and maturity date.

Security

Collateral description, security interest grant, perfection mechanics, priority language, and UCC‑1 filing instructions where applicable.

Covenants

Affirmative and negative covenants, financial covenants, reporting obligations, and material adverse change definitions.

Default & Remedies

Events of default, cure periods, acceleration rights, collection steps, and remedies including foreclosure or repossession procedures.

Representations

Borrower and lender representations and warranties about authority, solvency, lien status, and accuracy of financial statements.

Exhibits

Schedules, payment matrices, collateral lists, guaranty documents, fee schedules, and UCC‑1 or recording instructions.

Step-by-step: completing a Credit Agreement Form

Follow these core steps to prepare, review, and finalize a credit agreement while preserving enforceability and clearing any filing requirements.

  • 01
    Draft: Populate terms, exhibits, and UCC details.
  • 02
    Review: Legal and underwriting review for risk and compliance.
  • 03
    Authenticate: Obtain required signatures and witnessing/notarization.
  • 04
    File/Record: Submit UCC‑1 or mortgage recording where required.

Configure an online workflow for signing and filing

Set up your digital workflow so document routing, signer authentication, and post-signing delivery happen in the correct order.

Field Configuration
Document Template Create a reusable template with standard clauses and populated exhibits.
Conditional Fields Show security fields only when loans are secured; hide irrelevant sections.
Authentication Choose email, SMS OTP, or KBA depending on risk level.
Notifications Enable signer reminders and completion receipts to all parties.

Where to send or file the signed Credit Agreement

Routing depends on whether the agreement creates a record that must be recorded or filed; follow legal and operational steps below.

  • Original to Lender: Deliver executed original or certified copy to lender custody.
  • Borrower Copy: Provide borrower with signed copy and certificate of completion.
  • UCC Filing: File UCC‑1 in the debtor’s jurisdiction when security interests exist.
  • Public Recording: Record mortgages or deeds of trust in county recorder office.

Digital signing and eSubmission considerations

Choose an eSignature platform that supports required authentication, audit trails, and integrations for filing or delivery.

  • Integrations: Salesforce, NetSuite, Microsoft 365, Google Workspace
  • Formats: PDF, DOCX, fillable forms
  • Authentication: Email, SMS OTP, KBA, SSO options

Key timelines and notice periods to track

Credit agreements include dates and deadlines that affect interest, reporting, cure periods, and filing — monitor these to avoid unintended defaults or lost priority.

Effective Date:

Start date of obligations and interest accrual.

Funding Date:

Date funds are disbursed; aligns payment schedules.

Maturity Date:

Final date when outstanding principal must be repaid.

Default Cure Period:

Number of days to remedy a breach before acceleration.

Filing Deadlines:

File UCC‑1 promptly to preserve lien priority.

Typical lifecycle milestones for a credit agreement

A sequence of preparation, execution, perfection, and post‑closing stages ensures legal protection and operational readiness.

01

Preparation

Drafting, counsel review, and internal approvals occur before signature.

02

Execution

Parties sign and any notarization/witnessing is completed.

03

Perfection

UCC‑1 or recorder filing to perfect security interests.

04

Post-Closing

Deliver final copies, update servicing systems, and monitor covenants.

Common mistakes when preparing a Credit Agreement Form

  • Using an abbreviated or trade name for the borrower rather than the exact legal entity name, which can invalidate a security filing or cause priority disputes.
  • Failing to attach or reference exhibits that define collateral or payment schedules, creating ambiguity about secured assets or repayment timing.
  • Neglecting required authentication or consent disclosures for electronic signing in consumer-facing transactions, which may affect enforceability under ESIGN.
  • Missing timely UCC‑1 or recorder filings after execution, which can result in loss of lien priority and costly litigation to reestablish rights.

Penalties and risks from incorrect or incomplete forms

Tax Penalties: IRC §6721 fines possible for incorrect filings.
Invalid Security: Failure to perfect lien risks unsecured creditor status.
Enforcement Delay: Incomplete docs can delay foreclosure or collection.
Default Acceleration: Errors can trigger lender remedies under agreement terms.
UCC Filing Errors: Incorrect debtor name undermines perfection and priority.
Privacy Breach: Exposed borrower data risks HIPAA/CCPA obligations where relevant.

Pricing comparison for common eSignature vendors

Basic vendor pricing and feature availability for quick comparison; signNow is listed first per vendor ordering requirements.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Essential fields and security elements to include

Borrower Name: Full legal entity
Lender Name: Full legal entity
Loan Amount: Numeric dollars
Interest Rate: APR or formula
Repayment Terms: Schedule detail
Collateral: Specific assets

Who is authorized to sign and what their role means

Authorized Signatory — CFO

The Chief Financial Officer or other officer listed in the corporate resolution signs on the borrower’s behalf; ensure corporate authority and board approvals are documented before execution.

Lender Representative — Credit Officer

A designated lender officer or attorney with delegated authority executes for the lender and confirms funding conditions have been satisfied prior to disbursement.

Real-world examples of Credit Agreement use

These brief examples show how organizations apply credit agreements in practical contexts and the operational differences they encountered.

Optica Ventures LLC

The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers.

  • Closed short-term bridge loans quickly using templated agreements and eSignatures.
  • The result was faster turnarounds and fewer missing exhibits, which reduced administrative follow-up and improved borrower satisfaction.

Martin Properties

I can process and execute all of these documents online with 100% compliance and built-in security.

  • Executed multiple mortgage-backed loans remotely during a title closing.
  • Mobile-friendly signing and secure storage allowed the company to complete closings without in-person attendance and maintain accurate audit trails.

Frequently asked questions about Credit Agreement Form execution

Answers to common legal, technical, and filing questions encountered when preparing and executing credit agreements.


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