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Deed Of Debt

Deed Of Debt Template for Ireland

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Key Requirements PROMPT example:

Deed Of Debt

"I need a Deed of Debt for a €500,000 business loan between our manufacturing company as creditor and a long-term supplier as debtor, with monthly repayments starting March 2025 and including provisions for security over the debtor's equipment."

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Document background
The Deed of Debt is a crucial legal instrument in Irish commercial and financial transactions where parties wish to formally document a debt obligation with the enhanced protection of a deed format. This document is commonly used in various scenarios including corporate lending, property transactions, debt restructuring, and formal acknowledgment of existing debts. The deed format provides additional security through a longer limitation period and specific execution requirements under Irish law. A Deed of Debt typically includes comprehensive details about the debt, including the principal amount, interest provisions, repayment terms, security (if any), and enforcement mechanisms. It's particularly valuable when the parties need a clear and formal record of the debt obligation, especially in situations involving substantial sums or complex repayment arrangements.
Suggested Sections

1. Parties: Identification of the Creditor and Debtor with full legal names and addresses

2. Background: Recitals explaining the context of the debt and the intention to create a legally binding deed

3. Definitions: Definitions of key terms used throughout the deed

4. Acknowledgment of Debt: Clear statement of the debt amount and acknowledgment by the debtor

5. Interest: Interest rate applicable and calculation method

6. Repayment Terms: Payment schedule, method of payment, and due dates

7. Representations and Warranties: Statements of fact and assurances given by the debtor

8. Events of Default: Circumstances that constitute default and consequences

9. Remedies: Rights and remedies available to the creditor upon default

10. Notices: How formal communications between parties should be made

11. General Provisions: Standard boilerplate clauses including governing law, jurisdiction, and entire agreement

12. Execution: Formal execution block meeting Irish deed requirements

Optional Sections

1. Security: Include when the debt is secured against specific assets

2. Guarantee: Include when there is a guarantor for the debt

3. Insurance: Include when specific insurance requirements are imposed on the debtor

4. Early Repayment: Include when early repayment options are available

5. Assignment: Include when either party may need to transfer their rights or obligations

6. Costs and Expenses: Include when specific provisions about legal costs and enforcement expenses are needed

7. Tax: Include when there are specific tax implications or gross-up provisions

8. Financial Covenants: Include when ongoing financial requirements are imposed on the debtor

Suggested Schedules

1. Schedule 1 - Repayment Schedule: Detailed payment schedule including dates and amounts

2. Schedule 2 - Security Details: Description of any assets provided as security (if applicable)

3. Schedule 3 - Calculation of Interest: Detailed methodology for calculating interest

4. Schedule 4 - Form of Notice: Template forms for various notices under the deed

5. Schedule 5 - Conditions Precedent: List of documents and conditions required before the deed becomes effective

6. Appendix A - Copy of Resolution: Corporate resolution authorizing the debt (if corporate debtor)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreed Rate
Business Day
Completion Date
Debt
Default Interest Rate
Default Notice
Due Date
Effective Date
Event of Default
Interest Payment Date
Interest Period
Interest Rate
Legal Charge
Loan Amount
Material Adverse Change
Outstanding Balance
Payment Date
Permitted Payment
Principal Amount
Relevant Period
Repayment Date
Repayment Schedule
Security
Security Documents
Specified Account
Term
Working Day
Security Interest
Secured Assets
Guarantor
Guarantee
Enforcement Event
Related Rights
Permitted Security
Notice
Business Hours
Irish Law
Secured Obligations
Tax
Relevant Industries

Financial Services

Banking

Real Estate

Construction

Manufacturing

Professional Services

Retail

Healthcare

Technology

Energy

Agriculture

Relevant Teams

Legal

Finance

Treasury

Credit Control

Risk Management

Compliance

Corporate Secretarial

Debt Recovery

Commercial

Executive Management

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Corporate Lawyer

Financial Controller

Credit Manager

Treasury Manager

Risk Manager

Company Secretary

Commercial Director

Debt Recovery Manager

Compliance Officer

Managing Director

Finance Manager

Corporate Banking Manager

Industries
Statute of Limitations Act 1957: Sets the time limits for bringing claims on debts in Ireland. For a deed, the limitation period is typically 12 years from the date the cause of action accrued.
Land and Conveyancing Law Reform Act 2009: Provides the modern statutory framework for the execution of deeds in Ireland, including requirements for valid execution, witnessing, and the formal requirements of deeds.
Consumer Credit Act 1995: If the debt involves a consumer, this Act provides important protections and requirements for credit agreements, including disclosure obligations and consumer rights.
Registration of Deeds and Title Act 2006: Governs the registration of deeds and other instruments affecting property in Ireland, which may be relevant if the debt is secured against property.
Central Bank Act 1997: Relevant for regulated financial activities and requirements related to debt instruments, particularly if the creditor is a financial institution.
Companies Act 2014: If either party is a company, this Act contains provisions regarding the execution of deeds by companies and corporate borrowing powers.
Succession Act 1965: Important for considering the impact of death of either party on the debt obligation and enforcement of the deed.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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