The Internal Loan Agreement is essential for documenting financial arrangements between related entities in New Zealand. It is commonly used when one entity within a corporate group provides funding to another related entity, whether for working capital, expansion, or specific projects. The agreement must comply with New Zealand's Companies Act 1993, tax legislation, and financial reporting requirements. It typically includes detailed terms about the loan amount, interest calculations, repayment schedules, and any security arrangements. The document is crucial for maintaining proper corporate governance, ensuring tax compliance, and creating a clear audit trail for internal financing transactions. This type of agreement is particularly important in the context of New Zealand's transfer pricing rules and thin capitalization requirements for cross-border internal loans.
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1. Parties: Identifies the related entities involved - the lender and borrower, including their company registration numbers and registered addresses
2. Background: Explains the context of the internal loan, relationship between parties, and purpose of the loan
3. Definitions: Defines key terms used throughout the agreement for clarity and consistency
4. Loan Amount and Purpose: Specifies the principal amount and detailed purpose of the loan
5. Interest: Details the interest rate (if any), calculation method, and payment frequency
6. Drawdown: Specifies how and when the loan amount will be advanced
7. Repayment Terms: Outlines the repayment schedule, method, and any early repayment provisions
8. Representations and Warranties: Standard warranties about corporate authority, capacity, and enforceability
9. Events of Default: Defines circumstances constituting default and consequences
10. General Provisions: Standard boilerplate clauses including notices, amendments, and governing law
1. Security: Include when the loan is to be secured against specific assets or guarantees
2. Tax Provisions: Required for cross-border internal loans or when specific tax treatments need to be addressed
3. Subordination: Include when the loan needs to be subordinated to other debt facilities
4. Financial Covenants: Add when specific financial metrics need to be maintained by the borrower
5. Related Party Requirements: Include specific provisions required by group policy or governance requirements
6. Currency and Exchange Rate: Required for loans between entities in different jurisdictions with different currencies
1. Repayment Schedule: Detailed schedule of repayment dates and amounts
2. Drawdown Notice: Form of notice to be used for drawing down the loan
3. Calculation of Interest: Detailed methodology for interest calculations if complex arrangements apply
4. Security Details: Description of any security provided, including asset listings or guarantee terms
5. Group Structure Chart: Shows relationship between the parties within the corporate group
6. Board Resolutions: Format of required board resolutions approving the loan
Relevant legal definitions
Advance
Agreement
Applicable Rate
Banking Day
Board
Borrower
Business Day
Commencement Date
Companies Act
Default
Default Interest
Default Interest Rate
Drawdown Date
Drawdown Notice
Event of Default
Final Repayment Date
Financial Indebtedness
Financial Year
Group
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Material Adverse Effect
NZ GAAP
Outstanding Amount
Parties
Principal
Related Company
Repayment Date
Repayment Schedule
Security
Security Interest
Subsidiary
Tax
Term
Transfer Pricing Rules
Agreement
Applicable Rate
Banking Day
Board
Borrower
Business Day
Commencement Date
Companies Act
Default
Default Interest
Default Interest Rate
Drawdown Date
Drawdown Notice
Event of Default
Final Repayment Date
Financial Indebtedness
Financial Year
Group
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Material Adverse Effect
NZ GAAP
Outstanding Amount
Parties
Principal
Related Company
Repayment Date
Repayment Schedule
Security
Security Interest
Subsidiary
Tax
Term
Transfer Pricing Rules
Clauses
Interpretation
Loan Facility
Purpose
Conditions Precedent
Drawdown
Interest
Repayment
Prepayment
Representations and Warranties
Covenants
Events of Default
Security
Tax Gross-up
Transfer Pricing
Related Party Transactions
Notices
Assignment
Amendments
Counterparts
Confidentiality
Costs and Expenses
Set-off
Currency
Severability
Further Assurance
Entire Agreement
Governing Law
Dispute Resolution
Loan Facility
Purpose
Conditions Precedent
Drawdown
Interest
Repayment
Prepayment
Representations and Warranties
Covenants
Events of Default
Security
Tax Gross-up
Transfer Pricing
Related Party Transactions
Notices
Assignment
Amendments
Counterparts
Confidentiality
Costs and Expenses
Set-off
Currency
Severability
Further Assurance
Entire Agreement
Governing Law
Dispute Resolution
Relevant Industries
Financial Services
Manufacturing
Retail
Technology
Real Estate
Construction
Energy
Mining
Healthcare
Agriculture
Telecommunications
Professional Services
Relevant Teams
Legal
Finance
Treasury
Tax
Compliance
Corporate Governance
Risk Management
Accounting
Board of Directors
Executive Management
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Financial Controller
Group Accountant
Tax Manager
Legal Counsel
Company Secretary
Corporate Lawyer
Compliance Officer
Managing Director
Group Finance Manager
Board Director
Risk Manager
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