Loan Agreement: unsecured
An unsecured template loan agreement for a term loan to a corporate borrower
Why use a term loan?
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.
About this Loan Agreement: unsecured
This loan agreement is for an unsecured loan of a fixed amount to a corporate borrower. It is suitable for a borrower which is incorporated in England and Wales.
- 21 clauses over 13 pages
- Upfront advance of specified loan amount
- Regular interest payments at either fixed or floating interest rate by reference to specified bank’s base rate of interest
- Repayment either on a single repayment date or in instalments
- Undertakings to the borrower, including the provision of information to the lender and prohibition on granting security and additional borrowings
- Events of default
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