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Existing First Trust Deed Loan
"I need an Existing First Trust Deed Loan document to refinance a commercial property in Manchester valued at £2.5M, with ABC Bank as the lender and XYZ Trust Company as the trustee, to be completed by March 2025."
1. Parties: Identification of lender, borrower, and trustee
2. Background: Context of the loan and trust arrangement
3. Definitions: Key terms used throughout the document including relevant legislation references
4. Loan Terms: Principal amount, interest rate, repayment terms and conditions
5. Security Provisions: Details of the property and security arrangements under the trust deed
6. Trustee Powers and Duties: Scope of trustee authority and responsibilities under the deed
7. Events of Default: Circumstances constituting default and consequences thereof
8. Enforcement Provisions: Rights and remedies available upon default
1. Insurance Requirements: Optional section detailing property insurance obligations when specific requirements need to be imposed
2. Further Advances: Optional provisions for additional borrowing when the facility may be extended in future
3. Substitution of Security: Optional section covering process for changing secured property when borrower needs flexibility
1. Property Schedule: Detailed description and particulars of the secured property
2. Payment Schedule: Detailed repayment terms, dates, and amortization schedule
3. Form of Transfer: Standard form template for transferring trust property
4. Security Documents: Forms of additional security documents and supporting materials
Authors
Additional Security Documents
Advance
Applicable Rate
Approved Valuer
Borrower Obligations
Business Day
Charge
Charging Period
Completion
Default
Default Interest
Default Rate
Disposal
Encumbrance
Enforcement Event
Event of Default
Facility
Finance Documents
Financial Indebtedness
Interest Payment Date
Interest Period
Interest Rate
Land Registry
Legal Charge
Lender
Loan
Loan Amount
Material Adverse Effect
Mortgage
Mortgaged Property
Payment Date
Permitted Disposal
Permitted Encumbrance
Property
Receiver
Repayment Date
Secured Assets
Secured Liabilities
Security
Security Documents
Security Interest
Security Period
Tax
Title Documents
Trust Property
Trustee
Valuation
VAT
Loan and Purpose
Security Creation
Trust Arrangements
Representations and Warranties
Covenants
Property Maintenance
Insurance
Events of Default
Acceleration
Enforcement
Power of Attorney
Security Protection
Further Assurance
Set-off Rights
Assignment and Transfer
Amendments and Waivers
Notices
Costs and Expenses
Indemnities
Trustee Powers and Duties
Security Agent Provisions
Discharge and Release
Remedies and Waivers
Severability
Counterparts
Third Party Rights
Governing Law
Jurisdiction
Service of Process
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