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Loan Memorandum

Loan Memorandum Template for New Zealand

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Key Requirements PROMPT example:

Loan Memorandum

"I need a Loan Memorandum for a secured commercial loan of NZD 5 million to a manufacturing company, with quarterly repayments over 5 years starting March 2025, including specific covenants for maintaining financial ratios and environmental compliance requirements."

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Document background
The Loan Memorandum is a crucial document used in New Zealand lending transactions to formalize and document loan arrangements between parties. It is specifically designed to comply with New Zealand's regulatory framework, including the Credit Contracts and Consumer Finance Act 2003, Contract and Commercial Law Act 2017, and related legislation. This document type is essential when establishing new loan facilities, restructuring existing debt, or documenting credit arrangements. The Loan Memorandum includes comprehensive details about the facility, such as loan amount, purpose, interest calculations, repayment terms, conditions precedent, representations and warranties, and events of default. It serves as the primary reference point for both lender and borrower throughout the loan's lifecycle, ensuring clarity of obligations and protecting all parties' interests while maintaining regulatory compliance.
Suggested Sections

1. Parties: Identification of the lender and borrower, including full legal names, addresses, and registration numbers if applicable

2. Background: Context of the loan arrangement and purpose of the facility

3. Definitions: Key terms used throughout the document defined for clarity and legal certainty

4. Facility Details: Core loan terms including amount, purpose, and drawdown conditions

5. Interest and Fees: Interest rate, calculation method, payment frequency, and applicable fees

6. Repayment Terms: Repayment schedule, methods, and timing of payments

7. Conditions Precedent: Conditions that must be satisfied before the loan becomes available

8. Representations and Warranties: Statements of fact and assurances given by the borrower

9. Undertakings: Ongoing obligations of the borrower during the loan term

10. Events of Default: Circumstances that would constitute a default and consequences

11. Governing Law and Jurisdiction: Specification of New Zealand law and jurisdiction

12. Execution: Signature blocks and execution requirements

Optional Sections

1. Security: Details of any security or guarantees - include when loan is secured

2. Guarantor Provisions: Terms applying to guarantors - include when there are guarantors

3. Insurance Requirements: Mandatory insurance requirements - include for secured loans or specific asset financing

4. Special Conditions: Any special or unique terms specific to this loan - include when standard terms need modification

5. Financial Covenants: Financial ratios or requirements - include for corporate or commercial loans

6. Review Events: Circumstances triggering loan review - include for longer-term facilities

7. Syndication Provisions: Terms for multiple lenders - include for syndicated loans

Suggested Schedules

1. Repayment Schedule: Detailed breakdown of repayment amounts and dates

2. Fee Schedule: Comprehensive list of all applicable fees and charges

3. Security Details: Detailed description of security assets and registration requirements

4. Conditions Precedent Checklist: List of required documents and conditions to be satisfied

5. Drawdown Notice Form: Template form for requesting loan disbursements

6. Financial Reporting Requirements: Details of required financial reports and their frequency

7. Compliance Certificate: Template for periodic compliance certification

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
Advance
Agreement
Availability Period
Banking Day
Borrower
Business Day
Commitment
Conditions Precedent
Default
Default Interest
Default Rate
Drawdown Date
Drawdown Notice
Event of Default
Facility
Facility Amount
Final Repayment Date
Financial Indebtedness
Financial Statements
Guarantor
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Material Adverse Effect
Maturity Date
Outstanding Amount
Parties
Permitted Security Interest
Potential Event of Default
Prepayment
Principal
Repayment Date
Repayment Schedule
Security
Security Documents
Security Interest
Security Provider
Tax
Term
Transaction Documents
Unpaid Sum
Relevant Industries

Banking

Financial Services

Real Estate

Construction

Agriculture

Manufacturing

Retail

Professional Services

Technology

Healthcare

Education

Transport and Logistics

Relevant Teams

Legal

Finance

Compliance

Risk Management

Treasury

Credit

Commercial Banking

Corporate Banking

Business Development

Operations

Relevant Roles

Chief Financial Officer

Finance Manager

Legal Counsel

Compliance Officer

Credit Manager

Loan Officer

Relationship Manager

Risk Manager

Treasury Manager

Financial Controller

Commercial Manager

Business Development Manager

Credit Analyst

Corporate Banker

Financial Advisor

Industries
Credit Contracts and Consumer Finance Act 2003: Primary legislation governing consumer credit contracts, including disclosure requirements, interest rates, and fees
Contract and Commercial Law Act 2017: Provides the fundamental framework for contract formation, enforcement, and remedies in New Zealand
Anti-Money Laundering and Countering Financing of Terrorism Act 2009: Requires certain due diligence and verification procedures for financial transactions
Financial Service Providers (Registration and Dispute Resolution) Act 2008: Regulates financial service providers and requires registration for lenders
Personal Property Securities Act 1999: Relevant if the loan is secured by personal property, governing the registration and enforcement of security interests
Fair Trading Act 1986: Prohibits misleading and deceptive conduct in trade, including financial services and loan documentation
Privacy Act 2020: Governs the collection, use, and disclosure of personal information in loan documentation
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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