Short-form facility agreement (term loan): single company borrower—bilateral—unsecured
Short-form facility agreement (term loan): single company borrower—bilateral—unsecured

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

  • Short-form facility agreement (term loan): single company borrower—bilateral—unsecured
  • 1 Definitions and interpretation
  • 2 The Facility
  • 3 Conditions to drawing thea Loan
  • 4 Mechanics of drawing thea Loan
  • 5 Interest
  • 6 Repayment, prepayment and cancellation
  • 7 Taxes
  • 8 Change of circumstances
  • 9 Fees
  • More...

Facility agreement

This Agreement is made on [date]

Parties

  1. 1

    [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); and

  1. 2

    [insert name of Lender], of [insert address] (the Lender).

It is agreed as follows:

    1. 1

      Definitions and interpretation

      1. 1.1

        In this Agreement, unless otherwise provided:

        Business Day

        1. means a day, other than a Saturday, Sunday or public holiday, on which banks are open for business in London;

        Commitment

        1. means £[] ([] Sterling) minus any amount reduced or cancelled in accordance with this Agreement;

        Commitment Period

        1. means the period commencing on the date of this Agreement to and including [];

        Default

        1. means an event that with the giving of notice, lapse of time or other applicable condition would be an Event of Default under Clause 16;

        Drawdown

        1. means [the OR a] utilisation of the Facility;

        Drawdown Date

        1. means the date of Drawdown as specified in the [applicable] Drawdown Notice;

        Drawdown Notice

        1. means an irrevocable written notice of each intended Drawdown in a form acceptable to the Lender;

        Event of Default

        1. has the meaning given to it in Clause 16 (Events of Default);

        Facility

        1. means the Sterling term loan facility made available under this Agreement in an amount equal to the Commitment;

        Facility Period

        1. means the period from the date of this Agreement until all the obligations of the Borrower under

Popular documents