EBT loan agreement
EBT loan agreement

The following Share Incentives guidance note provides comprehensive and up to date legal information covering:

  • EBT loan agreement
  • Parties
  • Background

Produced in partnership with Jeremy Glover of Reed Smith

This Deed is dated [insert date]

Parties

  1. 1

  2. [insert full name of Trustee] incorporated and registered in [insert place of incorporation of the trustee] with company number [insert registered number] whose registered office is at [insert address of registered office] in its capacity as sole trustee of the [insert name of the EBT] Employee Benefit Trust (the Trustee).

  1. 2

  2. [Insert full name of company] incorporated and registered in England and Wales with company number [insert registered number] whose registered office is at [insert registered office address] (the Lender).

Background

  1. (A)

    By a trust deed dated [insert date of EBT trust deed] (the Trust Deed), the Lender established the [insert name of EBT] Employee Benefit Trust (the EBT).

  2. (B)

    The Lender is willing to loan funds to the Trustee, in its capacity as trustee of the EBT, subject to the following terms.

  1. 1

    Definitions and interpretation

    1. 1.1

      The following definitions and rules of interpretation apply in this Agreement.

    2. Agreement

      1. means this agreement, as varied from time to time;

      Business Day

      1. means a day other than a Saturday, Sunday or public holiday in England when banks in London are