Facility Agreement: unsecured

£50.00 exc VAT

Facility agreement for an unsecured loan facility to a corporate borrower which is incorporated in England and Wales, to be available to be drawn during an availability period and repayable on a fixed repayment date.

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When do I use this document?

  • for an unsecured loan facility to be available for drawing during an availability period
  • for a borrower which is a company incorporated in England and Wales

What are the key features?

  • 23 clauses and two schedules over 14 pages
  • mechanism for the borrower to request advances, subject to satisfaction of conditions precedent
  • regular interest payments at either fixed or floating interest rate by reference to specified bank’s base rate of interest
  • repayment of all loans on a fixed repayment date, with borrower able to prepay in whole or in part
  • provision for an arrangement fee and facility commitment fee
  • undertakings from the borrower, including to provide information to the lender and prohibition on granting security and additional borrowings
  • events of default, leading to the lender having the right to stop further advances and demand immediate repayment

What other documents are available?

For a form of secured facility agreement, see

For forms of unsecured and secured loan agreements, see

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