Master Loan Agreement for Ireland

Master Loan Agreement Template for Ireland

A Master Loan Agreement under Irish law serves as the primary document governing the lending relationship between a financial institution and a borrower. This comprehensive agreement establishes the fundamental terms and conditions for the loan facility, including drawdown mechanisms, interest calculations, repayment terms, security arrangements, and default provisions. Compliant with Irish financial regulations and relevant EU directives, it incorporates necessary consumer protection measures and regulatory requirements while providing flexibility for multiple drawdowns and varying commercial terms. The agreement includes robust provisions for security, covenants, and enforcement mechanisms specific to the Irish legal framework.

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What is a Master Loan Agreement?

The Master Loan Agreement serves as the foundational document for establishing and governing lending relationships in Ireland. It is typically used when parties anticipate multiple loans or ongoing lending arrangements, providing a standardized framework that can be efficiently applied to subsequent transactions. The agreement incorporates all essential elements required under Irish law and EU regulations, including mandatory consumer protection provisions, regulatory compliance requirements, and specific Irish law security and enforcement mechanisms. This Master Loan Agreement is designed to accommodate various types of lending facilities while ensuring compliance with Irish financial services regulations, Central Bank requirements, and relevant EU directives. It includes comprehensive provisions for drawdown procedures, interest calculations, security arrangements, covenants, and default scenarios, making it suitable for both bilateral and syndicated lending arrangements.

What sections should be included in a Master Loan Agreement?

1. Parties: Identifies and defines the lender, borrower, and any guarantors or other parties to the agreement

2. Background: Sets out the context and purpose of the loan agreement

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles

4. The Facility: Details the loan amount, purpose, and availability period

5. Conditions Precedent: Specifies conditions that must be satisfied before the loan can be drawn

6. Drawdown: Sets out the mechanism and requirements for drawing down the loan

7. Interest: Specifies interest rate(s), calculation methods, and payment terms

8. Repayment: Details repayment schedule, amounts, and mechanisms

9. Prepayment: Establishes terms for voluntary and mandatory prepayment

10. Representations and Warranties: Sets out statements of fact and assurances given by the borrower

11. Covenants: Details positive and negative obligations of the borrower

12. Events of Default: Lists circumstances that constitute default and consequences

13. Security: Describes security arrangements for the loan

14. Changes to Parties: Governs assignment and transfer rights

15. Payment Mechanics: Details payment procedures, currencies, and set-off rights

16. Notices: Specifies how formal communications between parties should be made

17. Governing Law and Jurisdiction: Confirms Irish law governance and jurisdiction for disputes

What sections are optional to include in a Master Loan Agreement?

1. Guarantees: Include when third-party guarantees are part of the security package

2. Multi-currency Provisions: Required for facilities offering multiple currency options

3. Tax Gross-up and Indemnities: Detailed tax provisions for cross-border lending or complex tax structures

4. Increased Costs: Provisions dealing with regulatory changes affecting the lender's costs

5. Market Disruption: Provisions handling interest rate benchmark disruption scenarios

6. Anti-corruption and Sanctions: Enhanced compliance provisions for regulated lenders or international transactions

7. Multiple Borrower Provisions: Required when the facility is available to multiple borrowers

8. Accordion Facility: Optional provisions for increasing the facility amount

9. Agency and Security Trustee: Required for syndicated facilities with multiple lenders

What schedules should be included in a Master Loan Agreement?

1. Schedule 1 - Conditions Precedent Documents: List of required documents and conditions to be satisfied before drawdown

2. Schedule 2 - Form of Drawdown Request: Template for borrower to request loan disbursement

3. Schedule 3 - Form of Transfer Certificate: Template for transferring loan participations

4. Schedule 4 - Repayment Schedule: Detailed amortization schedule if applicable

5. Schedule 5 - Financial Covenants: Detailed financial covenants and calculation methodologies

6. Schedule 6 - Security Documents: List and forms of security documents

7. Schedule 7 - Forms of Compliance Certificate: Template for periodic compliance certification

8. Appendix A - Contact Details: Contact information for all parties and authorized representatives

9. Appendix B - Facility Specific Terms: Detailed commercial terms specific to the facility

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

Jurisdiction

Ireland

Publisher

Genie AI

Document Type

Financing Agreement

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Banking and Financial Services

Commercial Real Estate

Manufacturing

Retail

Technology

Healthcare

Energy and Utilities

Infrastructure

Agriculture

Telecommunications

Professional Services

Transportation and Logistics

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Credit

Commercial

Corporate Development

Company Secretariat

Operations

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Legal Counsel

Compliance Officer

Risk Manager

Credit Manager

Commercial Director

Corporate Lawyer

Banking Lawyer

Finance Manager

Relationship Manager

Credit Analyst

Legal Director

Company Secretary

Industries
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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