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Loan Indemnification Agreement

Loan Indemnification Agreement Template for New Zealand

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Key Requirements PROMPT example:

Loan Indemnification Agreement

"I need a Loan Indemnification Agreement for a real estate development company providing indemnity to a bank for a $5M construction loan, with specific provisions for progressive drawdowns and multiple security properties."

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Document background
The Loan Indemnification Agreement is a crucial document in New Zealand's financial and commercial landscape, used when one party needs to provide financial security or protection to another in relation to a loan arrangement. This document is particularly relevant in situations involving corporate lending, property development, or complex financial transactions where additional security is required beyond the primary loan agreement. The agreement must comply with New Zealand's financial regulations, including the Contract and Commercial Law Act 2017 and relevant consumer protection legislation. A Loan Indemnification Agreement typically includes detailed provisions about the scope of indemnification, trigger events, payment obligations, and enforcement mechanisms, making it essential for risk management in lending arrangements.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names and addresses

2. Background: Context of the agreement, including details of the underlying loan and the reason for indemnification

3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement

4. Indemnification Obligations: Core provisions detailing the scope, nature, and extent of the indemnification

5. Loan Details: Description of the loan being indemnified, including amount, terms, and conditions

6. Representations and Warranties: Statements of fact and assurances given by each party

7. Payment Terms: Details of how and when indemnification payments must be made

8. Duration and Termination: Term of the indemnification and circumstances for termination

9. Notice Requirements: Procedures for giving notices under the agreement

10. Dispute Resolution: Procedures for resolving disputes between parties

11. General Provisions: Standard boilerplate clauses including governing law, assignment, and amendment procedures

Optional Sections

1. Security Arrangements: Details of any security or collateral provided to support the indemnification - include when security is part of the arrangement

2. Multiple Indemnifiers: Specific provisions for when multiple parties provide indemnification - include when there is more than one indemnifying party

3. Insurance Requirements: Obligations to maintain specific insurance coverage - include when insurance is required as part of the arrangement

4. Step-In Rights: Rights of the indemnified party to take control of certain situations - include in complex commercial arrangements

5. Third Party Rights: Provisions dealing with rights of third parties - include when third parties have specific rights or obligations

6. Confidentiality: Detailed confidentiality obligations - include when sensitive commercial information is involved

7. Anti-Money Laundering Compliance: Specific AML/CFT compliance obligations - include for large transactions or when required by law

Suggested Schedules

1. Schedule 1 - Loan Agreement Details: Copy or key details of the underlying loan agreement being indemnified

2. Schedule 2 - Payment Schedule: Detailed schedule of any regular payments or payment mechanisms

3. Schedule 3 - Security Details: Details of any security arrangements including property descriptions or asset registers

4. Schedule 4 - Authorized Representatives: List of authorized representatives and their contact details

5. Appendix A - Notice Forms: Template forms for giving notices under the agreement

6. Appendix B - Compliance Certificates: Forms for periodic compliance certification if required

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
Agreement
Applicable Law
Business Day
Claim
Commencement Date
Confidential Information
Default Event
Dispute
Effective Date
Enforcement Action
Event of Default
Financial Indebtedness
Force Majeure Event
Governmental Authority
Indemnified Amount
Indemnified Party
Indemnifier
Indemnified Liabilities
Interest Rate
Loan
Loan Agreement
Loss
Material Adverse Effect
Notice
Outstanding Amount
Payment Date
Permitted Security Interest
Related Party
Relevant Documents
Security
Security Interest
Taxes
Term
Termination Date
Transaction Documents
Underlying Obligation
Working Day
Relevant Industries

Banking and Financial Services

Real Estate

Commercial Lending

Corporate Finance

Investment Management

Property Development

Infrastructure

Agricultural Finance

Small Business Lending

Asset Finance

Relevant Teams

Legal

Finance

Risk Management

Compliance

Corporate Banking

Credit Administration

Treasury

Commercial Lending

Operations

Documentation

Relevant Roles

Chief Financial Officer

Legal Counsel

Risk Manager

Credit Manager

Commercial Lending Officer

Corporate Finance Manager

Compliance Officer

Financial Controller

Treasury Manager

Legal Director

Loan Officer

Credit Risk Analyst

Corporate Banking Manager

Senior Finance Manager

General Counsel

Industries
Contract and Commercial Law Act 2017: Primary legislation governing formation and enforcement of contracts in New Zealand, including electronic transactions and contractual remedies
Credit Contracts and Consumer Finance Act 2003: Regulates credit contracts, consumer leases, and buy-back transactions. Particularly relevant for loan agreements and consumer protection
Property Law Act 2007: Relevant for security interests in property and mortgage arrangements that might be associated with the loan
Personal Property Securities Act 1999: Governs the creation and enforcement of security interests in personal property, which may be relevant if the loan involves personal property as security
Anti-Money Laundering and Countering Financing of Terrorism Act 2009: Requires due diligence and compliance measures for financial transactions to prevent money laundering
Privacy Act 2020: Governs the collection, use, and disclosure of personal information in the context of financial agreements
Financial Service Providers (Registration and Dispute Resolution) Act 2008: Relevant if either party is a financial service provider, requiring registration and dispute resolution procedures
Fair Trading Act 1986: Prohibits misleading and deceptive conduct in trade, including financial arrangements and agreements
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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