Deed of priority: single company borrower—single senior secured lender—single junior secured lender
Deed of priority: single company borrower—single senior secured lender—single junior secured lender

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Deed of priority: single company borrower—single senior secured lender—single junior secured lender
  • Parties
  • Background
  • EXECUTION PAGE
  • The Schedule
  • [Part A: Senior Security Documents
  • Part B: Junior Security Documents

This Deed is made [insert day and month] 20[insert year]

Parties

  1. 1

    [insert name of Senior Lender] of [insert address] (the Senior Lender);

  1. 2

    [insert name of Junior Lender] of [insert address] (the Junior Lender); and

  1. 3

    [insert name of Borrower], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (the Borrower).

Background

  1. (A)

    The Senior Lender has [agreed to provide OR provided] the Borrower with a loan facility on the terms of the Senior Facility Agreement (as defined below).

  2. (B)

    The Junior Lender has [agreed to provide OR provided] the Borrower with a loan facility on the terms of the Junior Facility Agreement (as defined below).

  3. (C)

    [It is a condition precedent to the provision of [each of] the Senior Facility(as defined below) [and the Junior Facility (as defined below)] that the parties enter into this Deed OR The Lenders and the Borrower have agreed that the Security (as defined below) will rank as set out in this Deed.]

  4. (D)

    [[insert further details if required]]

The parties agree:

  1. 1

    Definitions and interpretation

    1. 1.1