Checklist · Banking & Finance
Conditions precedent checklist and satisfaction certificate for a facility agreement
CP tracker for an Australian secured facility, organised by corporate, finance document, security perfection, KYC and financial conditions, with an officer’s certificate and a lender’s CP satisfaction notice.
- Kind
- Checklist. Steps or checks to work through and tick off.
- Where it applies
- Australia
- AI use
- Green AI can do most of the drafting. A lawyer still reviews the result.
- Law stated as at
- 17 October 2026
- Status
- Maintained. Checked against the cited sources on 17 October 2026.
- Version
- 1
- Source
- Written for this library
When to use it
Use from mandate to first drawdown, by either the lender’s or the borrower’s lawyers. Replace the generic items with the conditions in the signed facility agreement; the agreement, not this list, decides what is required.
How AI may be used
AI may extract each CP from the signed facility and track documents against it. Confirming that a CP is satisfied is a human sign-off.
AI may
- Extract every CP, its clause reference and required form from the executed facility and security documents
- Track documents received against each CP and flag missing, unsigned or undated items
- Draft the officer’s certificate annexure list from the documents received
AI must not
- Must not mark a CP satisfied or waived
- Must not confirm that corporate benefit, financial assistance or related party requirements are met
- Must not send the CP satisfaction notice
The lawyer checks
- Each document checked against the CP’s required form, signatories and dates
- Resolutions cover authority, benefit and any s 260B or Ch 2E approvals
- PPSR registrations made and verified within time before funding
Method: how the Green, Yellow and Red levels are decided. This is guidance for planning, not legal advice.
Read the full text
The full text is for signed-in accounts. It is free. When you sign in you can:
- read the whole precedent, with its drafting notes beside it;
- copy it, or download it as a Word file or Markdown;
- add it to your firm’s knowledge base, so colleagues can find it;
- let the AI tools you connect read it from that knowledge base.
The summary, the law it rests on and the AI-use guidance above stay public. Privacy.
More in Banking & Finance
- PPSR security interest registration: official guide with grantor-detail verification step
- General security deed (all present and after-acquired property)
- Guarantor independent legal advice letter and solicitor's certificate
- Clause and customer disclosure for AI-assisted credit decisioning (explanation and human review)
- Prompt template with guardrails: extract the covenant package into a monitoring table
All precedents for Banking & Finance · Tasks and AI use in this area