The Simple Loan Term Sheet is a foundational document used in Australian lending transactions to establish the preliminary framework for a loan facility. It is typically employed at the early stages of loan negotiations to document the essential commercial and legal terms agreed between the lender and borrower. This document type is particularly useful in both commercial and private lending contexts, where parties need to clearly articulate and agree upon key loan parameters before proceeding with full documentation. The term sheet serves as a roadmap for legal counsel in preparing comprehensive loan documentation and helps ensure all parties have a clear understanding of the proposed terms. While primarily used in Australia and subject to Australian law, the format follows internationally recognized lending practices while incorporating specific requirements of Australian financial services regulations and consumer protection laws.
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1. Parties: Identification of the Lender and Borrower with full legal names and addresses
2. Background: Brief context of the loan arrangement and purpose
3. Definitions: Key terms used throughout the term sheet
4. Facility Details: Loan amount, type of facility, and purpose
5. Interest Rate: Interest rate structure, calculation method, and payment frequency
6. Term and Repayment: Duration of the loan and repayment schedule
7. Conditions Precedent: Key conditions that must be satisfied before the loan is provided
8. Representations and Warranties: Basic statements of fact made by the borrower
9. Events of Default: Circumstances that would trigger a default under the loan
10. Governing Law: Specification of Australian law as the governing law
1. Security: Details of any security being provided - include if loan is secured
2. Guarantee: Details of any guarantees - include if there are guarantors
3. Financial Covenants: Financial ratios and requirements - include for corporate borrowers
4. Insurance Requirements: Required insurance coverage - include for secured loans or specific asset financing
5. Fee Structure: Details of establishment fees, ongoing fees - include if fees are applicable
6. Early Repayment: Terms for early repayment - include if early repayment is allowed
7. Review Events: Circumstances triggering loan review - include for longer term facilities
1. Repayment Schedule: Detailed amortization table showing payment dates and amounts
2. Security Details: Detailed description of security assets and registration requirements
3. Conditions Precedent Checklist: List of all required documents and conditions to be satisfied
4. Fee Schedule: Detailed breakdown of all applicable fees and charges
5. Contact Details: Key contacts and notice details for all parties
Relevant legal definitions
Availability Period
Business Day
Commitment
Default Rate
Drawdown Date
Event of Default
Facility
Facility Amount
Final Repayment Date
Financial Indebtedness
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Material Adverse Effect
Maturity Date
Outstanding Amount
Permitted Purpose
Potential Event of Default
Repayment Date
Repayment Schedule
Security
Security Provider
Term
Termination Date
Transaction Documents
Business Day
Commitment
Default Rate
Drawdown Date
Event of Default
Facility
Facility Amount
Final Repayment Date
Financial Indebtedness
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Material Adverse Effect
Maturity Date
Outstanding Amount
Permitted Purpose
Potential Event of Default
Repayment Date
Repayment Schedule
Security
Security Provider
Term
Termination Date
Transaction Documents
Clauses
Facility Terms
Interest
Fees
Repayment
Security
Conditions Precedent
Representations and Warranties
Undertakings
Events of Default
Guarantee
Assignment
Notices
Governing Law
Jurisdiction
Confidentiality
Financial Covenants
Increased Costs
Indemnities
Tax
Set-off
Early Repayment
Review Events
Force Majeure
Amendments
Severability
Interest
Fees
Repayment
Security
Conditions Precedent
Representations and Warranties
Undertakings
Events of Default
Guarantee
Assignment
Notices
Governing Law
Jurisdiction
Confidentiality
Financial Covenants
Increased Costs
Indemnities
Tax
Set-off
Early Repayment
Review Events
Force Majeure
Amendments
Severability
Relevant Industries
Banking and Financial Services
Real Estate
Commercial Property
Small Business
Corporate Finance
Agriculture
Manufacturing
Retail
Professional Services
Technology
Healthcare
Relevant Teams
Legal
Finance
Treasury
Credit
Risk Management
Compliance
Commercial
Corporate Banking
Business Development
Operations
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Financial Controller
Credit Manager
Loan Officer
Relationship Manager
Legal Counsel
Corporate Lawyer
Risk Manager
Business Development Manager
Commercial Manager
Managing Director
Company Secretary
Compliance Officer
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