Loan Payoff Agreement Template for Canada

1. Security Interest Release: Required when the original loan was secured by collateral, detailing the release of security interests

2. Payment Plan: Include when the payoff involves multiple payments rather than a single lump sum

3. Multiple Lender Provisions: Required when there are multiple lenders or loan participants to be paid off

4. Tax Implications: Include when there are significant tax consequences to the payoff that need to be addressed

5. Confidentiality: Add when parties wish to keep the payoff terms confidential

6. Survival: Include when certain representations or obligations need to survive the payoff

7. Default Provisions: Required when the payoff involves installment payments and consequences of default need to be specified

1. Schedule A - Original Loan Documentation: Copy or summary of the original loan agreement and any amendments

2. Schedule B - Payoff Calculation: Detailed breakdown of the payoff amount including principal, interest, and any fees

3. Schedule C - Security Interests: List of all security interests to be released (if applicable)

4. Schedule D - Payment Instructions: Detailed wire transfer or payment instructions for the payoff amount

5. Appendix 1 - Release Forms: Forms to be filed for releasing any registered security interests

6. Appendix 2 - Confirmation of Authority: Documentation confirming signing authority for corporate parties