The On Demand Loan Agreement is essential for lending arrangements in Australia where flexibility in repayment timing is crucial. This document is commonly used by financial institutions, private lenders, and businesses when establishing loans that can be called in at the lender's discretion. It provides a legal framework compliant with Australian financial regulations, including the National Consumer Credit Protection Act 2009 and related legislation. The agreement covers crucial elements such as loan amount, interest calculations, repayment terms, security arrangements (if any), and default provisions. It's particularly useful for short-term financing, bridging loans, or situations where the lender requires maximum flexibility in recovering the borrowed funds.
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1. Parties: Identifies the lender and borrower with their full legal names and addresses
2. Background: Explains the context of the loan and the parties' intention to enter into an on-demand lending arrangement
3. Definitions: Defines key terms used throughout the agreement including 'Loan Amount', 'Interest Rate', 'Event of Default', and 'Demand Notice'
4. Loan and Purpose: Specifies the loan amount, purpose of the loan, and terms of advancement
5. Interest: Details the interest rate, calculation method, and payment frequency
6. Repayment: Outlines the on-demand nature of the loan and the process for demanding repayment
7. Representations and Warranties: States the borrower's declarations regarding their legal capacity and financial condition
8. Events of Default: Lists circumstances that constitute default and trigger immediate repayment
9. General Provisions: Contains standard clauses including notices, amendments, governing law, and jurisdiction
10. Execution: Formal signing section with execution blocks for all parties
1. Security: Required when the loan is secured by any assets or guarantees
2. Guarantor Provisions: Include when there are third-party guarantors for the loan
3. Insurance Requirements: Required when specific insurance coverage is mandatory for the borrower
4. Special Conditions: Include when there are unique terms specific to the lending arrangement
5. Financial Covenants: Include for business borrowers when ongoing financial requirements need to be maintained
6. Set-off Rights: Include when the lender requires the right to set off the debt against other accounts
7. Assignment and Transfer: Include when either party needs the ability to assign or transfer their rights
8. Costs and Expenses: Detail when specific cost arrangements need to be documented
1. Loan Details Schedule: Contains specific loan amount, interest rate, and any fee details
2. Security Details: Lists and describes any security assets or guarantees (if applicable)
3. Repayment Schedule: Optional schedule for any agreed regular payments, while maintaining on-demand status
4. Form of Demand Notice: Template for the formal demand notice to be used when requesting repayment
5. Special Conditions: Any special or unique terms specific to this loan arrangement
6. Fee Schedule: Details of all applicable fees and charges
7. Guarantor Acknowledgment: Required signing schedule for any guarantors
8. Direct Debit Authority: Standard form for setting up payment arrangements
Relevant legal definitions
Applicable Law
Authority
Business Day
Borrower
Conditions Precedent
Demand Notice
Default Interest Rate
Default Event
Drawdown Date
Facility
Financial Indebtedness
Government Agency
GST
Guarantee
Guarantor
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Loan Amount
Material Adverse Effect
Outstanding Amount
Permitted Purpose
Related Entity
Repayment Date
Security
Security Interest
Security Provider
Taxes
Transaction Documents
Authority
Business Day
Borrower
Conditions Precedent
Demand Notice
Default Interest Rate
Default Event
Drawdown Date
Facility
Financial Indebtedness
Government Agency
GST
Guarantee
Guarantor
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Loan Amount
Material Adverse Effect
Outstanding Amount
Permitted Purpose
Related Entity
Repayment Date
Security
Security Interest
Security Provider
Taxes
Transaction Documents
Clauses
Loan Facility
Interest
Repayment
Security
Representations and Warranties
Covenants
Events of Default
Demand Rights
Set-off Rights
Payment Terms
Costs and Expenses
Tax Provisions
Assignment
Confidentiality
Force Majeure
Notices
Default Interest
Guarantee
Indemnity
Amendment
Severability
Waiver
Entire Agreement
Governing Law
Jurisdiction
Counterparts
Further Assurance
Anti-Money Laundering
Interest
Repayment
Security
Representations and Warranties
Covenants
Events of Default
Demand Rights
Set-off Rights
Payment Terms
Costs and Expenses
Tax Provisions
Assignment
Confidentiality
Force Majeure
Notices
Default Interest
Guarantee
Indemnity
Amendment
Severability
Waiver
Entire Agreement
Governing Law
Jurisdiction
Counterparts
Further Assurance
Anti-Money Laundering
Relevant Industries
Financial Services
Banking
Private Lending
Real Estate
Commercial Property
Small Business
Corporate Finance
Construction
Manufacturing
Retail
Professional Services
Agriculture
Mining
Technology
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Credit Assessment
Commercial Operations
Corporate Banking
Business Development
Company Secretariat
Relevant Roles
Chief Financial Officer
Finance Manager
Credit Manager
Legal Counsel
Compliance Officer
Risk Manager
Treasury Manager
Commercial Director
Business Development Manager
Account Manager
Corporate Lawyer
Banking Officer
Loan Officer
Financial Controller
Company Secretary
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