Intercreditor Agreement (Secured Debt)
Publisher one
Genie AIJurisdiction
England and WalesType of legal document
💼 Intercreditor deedBusiness activity
Intercreditor DeedA intercreditor deed is a deed that outlines the rights and responsibilities of two or more creditors. This type of deed is often used when multiple creditors are owed money by the same debtor. The intercreditor deed ensures that each creditor is repaid according to their agreed-upon terms."
This legally binding contract addresses the relationship and coordination between senior and junior secured lenders. It governs the enforcement of security rights, allocation of recovery proceeds, and outlines the steps to be taken in various scenarios, including loan default, bankruptcy, or restructuring. The document typically covers important aspects like restrictions on additional borrowing by the borrower, subordination of junior debt to senior debt, procedures for the release or substitution of collateral, and mechanisms for communication and decision-making among all lenders.
An Intercreditor Agreement aims to protect the rights and interests of both senior and junior lenders involved in a secured debt transaction while providing a coherent framework for preserving the value of the collateral and maximizing recovery in case of borrower default. This template is commonly used in various commercial contexts, such as project finance, real estate financing, leveraged buyouts, or corporate debt restructuring, where multiple lenders are involved and want clarity on their respective rights and priorities.
How it works
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
Book your personalised demo now
Similar legal templates
Supply Chain Manager Contract
This Supply Chain Manager contract template is designed for a commercial supply chain logistics organisation (or an individual supply chain manager) to use when contracting out their skills and services in exchange for payment. This contract sets out the type of supply chain logistics and supply-chain-logistics-related services to be completed by the supply chain manager on behalf of the client, with consideration for expectations around quality and delivery timescales, as well as any mitigating circumstances. This contract allows for payment to be made by the client to the supply chain logistics firm or individual supply chain manager on a weekly or monthly basis but can easily be edited to account for other payment schedules and could be altered to include bonuses conditional on performance. It can also be fully customised with the details of the two parties and the duration of the contract and can be printed, downloaded and edited freely as part of our mission to open source business legals. This is a template for contractors who fit outside of the UK's off-payroll working rules (IR35).
Publisher
Genie AIJurisdiction
England and WalesStandard Letter To Request Employee Information Before Tender From Current Service Provider (TUPE)
The purpose of this template is to help employers who are engaged in the competitive tendering process to obtain essential employee information from the outgoing service provider. TUPE regulations are in place to protect employees' rights when a business or service is transferred or outsourced to a new employer. In such scenarios, the incoming employer must inherit the existing employees under the same terms and conditions of their employment.
This template letter serves as a formal request for specific employee information, which is required by the incoming employer to ensure compliance with TUPE regulations. Some of the information sought may include the number and names of employees, their job titles, required job descriptions, terms and conditions of employment, collective agreements, disciplinary or grievance proceedings, and any pending legal claims or complaints.
The outgoing service provider is legally obligated to provide accurate and up-to-date information within a given timeframe as stipulated by TUPE regulations. Acquiring this employee information is crucial to help the incoming employer make informed decisions, such as identifying potential redundancies, assessing the cost implications of maintaining existing contracts, and ensuring employees' continuous employment and benefits.
This legal template provides a standardized format for employers to formally request the required employee information. It includes essential sections such as the salutation, context setting, the specific information being sought, the deadline for response, and contact details for queries or clarifications.
Employers utilizing this legal template can ensure compliance with TUPE regulations by formally requesting and obtaining the necessary employee information. This assists in maintaining a smooth transition of employees during the competitive tendering process, while safeguarding their employment rights and fulfilling legal obligations under UK law.
Publisher
Genie AIJurisdiction
England and WalesStandard On Demand Loan Agreement (Intra Group)
The on-demand loan refers to a financial transaction where the lender, usually a parent or holding company, extends funds to a subsidiary or affiliated company on an as-needed basis. Unlike a term loan with fixed repayment schedules, on-demand loans are flexible, allowing the borrower to request funds as required, with the lender having the right to demand repayment at any time.
The purpose of this agreement is to establish the rights and obligations of both the lender and borrower. It outlines the loan amount, interest rates, repayment terms, and any collateral or security provided by the borrower. Additionally, the agreement may define the circumstances under which the lender can demand immediate repayment or terminate the loan.
This legal template complies with the legal requirements and standards of UK law, ensuring all provisions are enforceable in a court of law. It may be used by multinational corporations, conglomerates, or groups of companies operating in the United Kingdom to formalize and govern their intra-group lending arrangements.
It is important to note that this template serves as a starting point and should be customized to fit the specific needs and circumstances of the parties involved. Both parties should seek legal advice to ensure compliance with applicable laws and to protect their interests in the event of any potential disputes or disagreements.
