All Templates
Convert term loan to revolving loan
🧾 Revolving loan agreement
Standard Revolving Loan Agreement Provisions
Standard Revolving Loan Agreement Provisions
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
🧾 Revolving loan agreementBusiness activity
Convert term loan to revolving loanA revolving loan agreement is a legal contract between a lender and a borrower that states the borrower will receive a set amount of money from the lender, and the borrower will repay the lender with interest. The agreement may also stipulate that the borrower will make payments on a set schedule or when the borrower has the funds available.
The legal template titled "Standard Revolving Loan Agreement Provisions under UK law" is a comprehensive document outlining the terms and conditions for establishing a revolving loan agreement within the jurisdiction of the United Kingdom.
Revolving loan agreements are a common form of financing arrangement between a lender and a borrower, particularly for businesses or individuals seeking flexible access to credit. This particular template is tailored to meet the legal requirements and standards applicable in the UK.
The agreement covers various essential provisions pertaining to the revolving loan, encompassing both the lender's and the borrower's rights and obligations throughout the loan term. It addresses key aspects such as loan disbursement, interest rates, repayment terms, default and enforcement provisions, amendments, and termination conditions.
The template likely includes provisions related to loan facilities, including borrowing limits, utilization periods, and the availability of various drawdown options. It may also encompass clauses related to the loan's interest calculations and any applicable fees or charges, providing clarity to both parties regarding the financial aspect of the agreement.
Furthermore, the template may outline obligations and covenants expected from the borrower, such as financial reporting requirements, collateral or security provisions, and restrictions on the borrower's actions during the loan term. It may also define events of default, which trigger specific consequences or remedies for the lender.
While this description provides an outline, it's important to note that the actual content and specific provisions within the legal template may vary. Users should carefully review the document and ensure it aligns with their specific needs and circumstances. Moreover, seeking professional legal advice is recommended to tailor the agreement according to the unique requirements of the parties involved and to ensure compliance with UK legal regulations.
Revolving loan agreements are a common form of financing arrangement between a lender and a borrower, particularly for businesses or individuals seeking flexible access to credit. This particular template is tailored to meet the legal requirements and standards applicable in the UK.
The agreement covers various essential provisions pertaining to the revolving loan, encompassing both the lender's and the borrower's rights and obligations throughout the loan term. It addresses key aspects such as loan disbursement, interest rates, repayment terms, default and enforcement provisions, amendments, and termination conditions.
The template likely includes provisions related to loan facilities, including borrowing limits, utilization periods, and the availability of various drawdown options. It may also encompass clauses related to the loan's interest calculations and any applicable fees or charges, providing clarity to both parties regarding the financial aspect of the agreement.
Furthermore, the template may outline obligations and covenants expected from the borrower, such as financial reporting requirements, collateral or security provisions, and restrictions on the borrower's actions during the loan term. It may also define events of default, which trigger specific consequences or remedies for the lender.
While this description provides an outline, it's important to note that the actual content and specific provisions within the legal template may vary. Users should carefully review the document and ensure it aligns with their specific needs and circumstances. Moreover, seeking professional legal advice is recommended to tailor the agreement according to the unique requirements of the parties involved and to ensure compliance with UK legal regulations.
How it works
PRODUCT HUNT
#1 Product of the Day
Try using Genie's Free AI Legal Assistant
Generate quality, formatted contracts with AI
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Let our Legal AI make edits for you
Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.
AI review
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
See Genie AI in action
Book your personalised demo now
Schedule a live, interactive demo with a Genie expert
Understand the most valuable features of Genie based on your workflow
Find out exactly how your business will benefit, from hours saved to faster revenue
Similar legal templates
Witness Statement To Prove Service Of Statutory Demand (Compulsory Liquidation)
This legal template for a Witness Statement is specifically geared towards proving the service of a Statutory Demand, which is a formal demand for payment issued by a creditor to an individual or company. In this case, the Statutory Demand is associated with compulsory liquidation, a process that forces a company into winding up and dissolution by court order due to its inability to pay off its debts.
The Witness Statement serves as an essential piece of evidence in court proceedings related to compulsory liquidation. It is typically provided by an individual, usually an employee or representative of the creditor or their legal representative, who has observed and can testify to the proper service of the Statutory Demand to the debtor company.
This template aims to provide a comprehensive framework to document the events surrounding the service of the Statutory Demand. It typically includes sections such as the introduction, identifying the witness and their relationship to the creditor, outlining their knowledge of the debtor company, detailing the method and date the demand was served, and describing any interaction or communication between the witness, creditor, and debtor in relation to the demand.
Furthermore, the template would likely include a section addressing the Response to the Statutory Demand, providing an opportunity for the witness to report any acknowledgment or rebuttal from the debtor company. It may also outline any subsequent steps taken by the creditor, such as formal court proceedings or negotiations towards a settlement.
By utilizing this Witness Statement template, it becomes easier to establish in court that the Statutory Demand was properly served to the debtor company. It assists in substantiating the claim of the creditor for initiating the compulsory liquidation of the company under UK law.
The Witness Statement serves as an essential piece of evidence in court proceedings related to compulsory liquidation. It is typically provided by an individual, usually an employee or representative of the creditor or their legal representative, who has observed and can testify to the proper service of the Statutory Demand to the debtor company.
This template aims to provide a comprehensive framework to document the events surrounding the service of the Statutory Demand. It typically includes sections such as the introduction, identifying the witness and their relationship to the creditor, outlining their knowledge of the debtor company, detailing the method and date the demand was served, and describing any interaction or communication between the witness, creditor, and debtor in relation to the demand.
Furthermore, the template would likely include a section addressing the Response to the Statutory Demand, providing an opportunity for the witness to report any acknowledgment or rebuttal from the debtor company. It may also outline any subsequent steps taken by the creditor, such as formal court proceedings or negotiations towards a settlement.
By utilizing this Witness Statement template, it becomes easier to establish in court that the Statutory Demand was properly served to the debtor company. It assists in substantiating the claim of the creditor for initiating the compulsory liquidation of the company under UK law.
Read More
Publisher
Genie AIJurisdiction
England and WalesTEMPLATE
USED BY
8
RATINGS
3
DISCUSSIONS
3
Virtual Freehold (Commercial Long Lease)
This legal template is designed to address the concept of a "Virtual Freehold (Commercial Long Lease)" under UK law.
A Virtual Freehold refers to a long-term lease agreement that grants extensive and almost perpetual rights to the tenant, similar to owning a freehold property. This legal template seeks to establish the terms and conditions of such a lease for commercial purposes, outlining the agreement between the landlord (the freeholder) and the tenant (the leaseholder).
The template may cover various crucial aspects, including the duration of the lease, rent payment obligations, conditions for alterations or improvements to the property, rights and responsibilities of both parties, insurance provisions, repair and maintenance obligations, and dispute resolution mechanisms. It may also include provisions regarding the termination or assignment of the lease, as well as the rights and remedies available to the parties in case of breach or default.
As the template pertains to UK law, it would likely incorporate relevant statutory regulations, case law precedents, and legal terminology specific to the jurisdiction. Its aim is to provide a comprehensive and legally binding agreement that protects the rights and interests of both parties involved in a commercial long lease agreement known as a Virtual Freehold under UK legislation.
A Virtual Freehold refers to a long-term lease agreement that grants extensive and almost perpetual rights to the tenant, similar to owning a freehold property. This legal template seeks to establish the terms and conditions of such a lease for commercial purposes, outlining the agreement between the landlord (the freeholder) and the tenant (the leaseholder).
The template may cover various crucial aspects, including the duration of the lease, rent payment obligations, conditions for alterations or improvements to the property, rights and responsibilities of both parties, insurance provisions, repair and maintenance obligations, and dispute resolution mechanisms. It may also include provisions regarding the termination or assignment of the lease, as well as the rights and remedies available to the parties in case of breach or default.
As the template pertains to UK law, it would likely incorporate relevant statutory regulations, case law precedents, and legal terminology specific to the jurisdiction. Its aim is to provide a comprehensive and legally binding agreement that protects the rights and interests of both parties involved in a commercial long lease agreement known as a Virtual Freehold under UK legislation.
Read More
Publisher
Genie AIJurisdiction
England and WalesTEMPLATE
USED BY
4
RATINGS
2
DISCUSSIONS
2
Wellbeing Policy
This legal template for a Wellbeing Policy under UK law provides guidance and instructions for organizations or employers based in the United Kingdom to implement comprehensive measures to promote health, safety, and overall wellbeing in the workplace. The template emphasizes compliance with relevant UK laws and regulations, as well as the duty of care towards employees and their physical, mental, and emotional wellness. It covers a range of topics, including provisions for risk assessments, work-life balance, stress management, mental health support, employee assistance programs, access to resources and training, flexible working options, and the prevention of workplace discrimination and harassment. The template aims to provide a solid foundation for employers to develop and maintain a supportive and healthy work environment, fostering employee satisfaction, productivity, and overall organizational success while adhering to legal requirements in the UK.
Read More
Publisher
Genie AIJurisdiction
England and WalesTEMPLATE
USED BY
2
RATINGS
3
DISCUSSIONS
0
