A term loan is an upfront loan to a borrower, repayable with interest at a fixed or floating rate on a fixed repayment date or over a certain repayment schedule. A term loan is often used by a business to purchase specified property or other fixed assets, such as equipment.

When do I use this document? for the grant of both a put option and call option over shares in a private limited company so that both the buyer has an option to purchase the shares and the seller has an option to sell the shares What are the key features? 24 clauses over 16 pages grant of the put and call options, with related definitions of option shares, exercise conditions and exercise periods put option exercise and form of exercise notice call option exercise and form of exercise notice mechanics for sale and purchase of option shares warranties and undertakings from the seller What else do I need to know? The principal matters which the parties to a put and call option agreement will need to negotiate include: option shares: the number of option shares exercise conditions: whether either option exercise is subject to satisfaction of any pre-conditions exercise periods: the time periods during which the seller may exercise the put option and the buyer may exercise the call option exercise price: the price payable for the shares What other docs are available? For alternative option agreements over shares, see: Call Option Agreement – shares Put Option Agreement – shares

Loan Agreement: unsecured

Loan agreement for an unsecured loan of a fixed amount to a corporate borrower which is incorporated in England and Wales, to be drawn in a single advance and repayable either on a single repayment date or in instalments.

for an unsecured loan of a fixed amount to be drawn in a single advance
for a borrower which is a company incorporated in England and Wales
for a loan repayable on a single repayment date or in instalments

What are the key features?

21 clauses over 13 pages
single advance of the total amount of the loan money to the borrower
unsecured loan
regular interest payments at either fixed or floating interest rate by reference to specified bank’s base rate of interest
repayment terms, with repayment either on a single repayment date or in instalments
undertakings from the borrower, including to provide information to the lender lending money (such as copies of its financial statements) and prohibitions on granting security and additional borrowings
events of default, including if the borrower fails to repay the loan or interest and other borrower defaults, leading to the lender having the right to demand immediate repayment

What other documents are available?

For a form of secured loan agreement template, under which the borrower secures its obligations to the lender by granting a charge or other form of security, see

Loan Agreement: secured

For forms of unsecured and secured facility agreements

If a director or shareholder of the borrower will personally guarantee the obligations of the borrower, see Guarantee: individual guarantor

Description

When do I use this document?

for the grant of both a put option and call option over shares in a private limited company
so that both the buyer has an option to purchase the shares and the seller has an option to sell the shares

What are the key features?

24 clauses over 16 pages
grant of the put and call options, with related definitions of option shares, exercise conditions and exercise periods
put option exercise and form of exercise notice
call option exercise and form of exercise notice
mechanics for sale and purchase of option shares
warranties and undertakings from the seller

What else do I need to know?

The principal matters which the parties to a put and call option agreement will need to negotiate include:

option shares: the number of option shares
exercise conditions: whether either option exercise is subject to satisfaction of any pre-conditions
exercise periods: the time periods during which the seller may exercise the put option and the buyer may exercise the call option
exercise price: the price payable for the shares

What other docs are available?

For alternative option agreements over shares, see:

Explanatory Guides

As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.

£35.00 exc VAT

Updated by a lawyer on 02/09/2024

Updated By a lawyer on 01/05/2023

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Loan Agreement: unsecured

When do I use this document?

What are the key features?

What other documents are available?

When do I use this document?

What are the key features?

What else do I need to know?

What other docs are available?

Explanatory Guides

As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.

Create your document in 3 Easy Steps

PaperRock offers affordable, legal document templates, written by experienced and expert lawyers, trusted by businesses across the UK and beyond. No hidden charges or trial sign-ups are required to complete your document.

“I have worked in legal and business affairs for over 25 years and need access to a wide range of corporate and commercial legal precedents. Paperrock is a refreshing source of high-quality legal templates. Superb value for money.”

Amanda | Bannister Creative

“It’s hard to find legal documents on the internet you can really trust. Knowing an expert lawyer has drafted what I need, gives my business the edge and gives me peace of mind.”

Elle, Founder | Winslow skincare & aesthetics.

“As an SME Paperrock saves us the legal fees we’ve previously had to spend. In these challenging times that's a big help. Great products and support.”

Giles, MD | Boniti Ltd.

Loan Agreement: unsecured

When do I use this document?

What are the key features?

What other documents are available?

When do I use this document?

What are the key features?

What else do I need to know?

What other docs are available?

Explanatory Guides

As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.

Related Articles

Create your document in 3 Easy Steps

PaperRock offers affordable, legal document templates, written by experienced and expert lawyers, trusted by businesses across the UK and beyond. No hidden charges or trial sign-ups are required to complete your document.

“I have worked in legal and business affairs for over 25 years and need access to a wide range of corporate and commercial legal precedents. Paperrock is a refreshing source of high-quality legal templates. Superb value for money.”

Amanda | Bannister Creative

“It’s hard to find legal documents on the internet you can really trust. Knowing an expert lawyer has drafted what I need, gives my business the edge and gives me peace of mind.”

Elle, Founder | Winslow skincare & aesthetics.

“As an SME Paperrock saves us the legal fees we’ve previously had to spend. In these challenging times that's a big help. Great products and support.”

Giles, MD | Boniti Ltd.

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