Loan Agreement - Contents of Loan Agreement

Contents of Loan Agreement

Forms of loan agreements vary tremendously from country to country, but characteristically a professionally drafted commercial loan agreement will incorporate the following terms:

  1. Parties to contracts with their addresses
  2. Definitions or interpretation provisions
  3. Facility and purpose
  4. Conditions precedent to utilisation
  5. Repayment provisions
  6. Prepayment and cancellation provisions
  7. Interest and interest periods
  8. Provisions dealing with gross-up in relation to any withholding imposed
  9. Increased cost formulae
  10. Payments provisions
  11. Representations of the borrower
  12. Covenants of the borrower
  13. Events of default
  14. Remedies in the event of default
  15. Provisions for penalties and liquidated damages
  16. For syndicated loans, provisions relating to the facility agent and security agent and voting of the lenders
  17. Formulae for calculations
  18. Provisions for fees of the lenders
  19. Provisions for expenses
  20. Securitization provisions
  21. Amendments and waivers provisions
  22. Covenants relating to changes in parties
  23. Set-off clause
  24. Severability clause
  25. Counterparts clause
  26. Addresses for notices
  27. Language provisions
  28. Choice of law clause
  29. Forum selection clause
  30. Appointment of a process agent

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