The Loan Lease Agreement is a specialized financial instrument used in New Zealand when parties wish to combine asset financing with a lease arrangement. This document type is particularly useful for businesses seeking to acquire expensive equipment or assets while maintaining financial flexibility. The agreement addresses both the lending and leasing aspects of the transaction, incorporating requirements from New Zealand's financial services regulations, consumer protection laws, and property legislation. It includes detailed provisions for asset usage, maintenance, payment terms, security arrangements, and default remedies. This type of agreement is commonly used in commercial and industrial contexts where significant capital expenditure is required but outright purchase is not the preferred option. The document must comply with New Zealand's Credit Contracts and Consumer Finance Act 2003, Property Law Act 2007, and related regulations.
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1. Parties: Identifies and defines all parties to the agreement including the Lender/Lessor and Borrower/Lessee
2. Background: Provides context for the agreement and outlines the purpose of the loan lease arrangement
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules for interpretation
4. Loan Terms: Specifies the loan amount, interest rate, repayment terms, and payment schedule
5. Lease Terms: Details the lease period, rental payments, and conditions of use for the leased asset
6. Security Arrangements: Outlines any security interests, charges, or other security arrangements protecting the lender's interests
7. Representations and Warranties: States the promises and assurances made by each party regarding their capacity and authority
8. Covenants: Lists ongoing obligations of the parties throughout the term of the agreement
9. Events of Default: Defines circumstances constituting default and consequences thereof
10. Termination: Specifies conditions and procedures for ending the agreement
11. General Provisions: Contains standard clauses including notices, amendments, governing law, and dispute resolution
1. Guarantees: Required when there are third-party guarantors securing the loan lease obligations
2. Insurance Requirements: Detailed insurance obligations when specific insurance coverage is required for the leased asset
3. Maintenance and Repairs: Detailed maintenance obligations when the asset requires specific maintenance arrangements
4. Option to Purchase: Include when the lessee has the option to purchase the leased asset at the end of the term
5. Assignment and Subletting: Required when transfer or subletting rights need to be explicitly addressed
6. GST Provisions: Detailed GST treatment when the transaction is subject to GST
7. Force Majeure: Include when specific provisions for unforeseen circumstances are required
1. Schedule 1 - Asset Description: Detailed description of the leased asset including specifications, condition, and value
2. Schedule 2 - Payment Schedule: Detailed breakdown of all payments including loan repayments and lease payments
3. Schedule 3 - Special Conditions: Any special terms or conditions specific to this agreement
4. Schedule 4 - Maintenance Requirements: Detailed maintenance and servicing requirements for the leased asset
5. Schedule 5 - Insurance Requirements: Specific insurance requirements and minimum coverage levels
6. Appendix A - Condition Report: Initial condition report of the leased asset
7. Appendix B - Guarantor Details: Details of any guarantors and their obligations
Relevant legal definitions
Agreement
Asset
Business Day
Commencement Date
Default Event
Default Interest Rate
Default Notice
Encumbrance
Event of Default
Expiry Date
Fair Wear and Tear
Finance Amount
GST
Guarantor
Initial Term
Interest Rate
Lease Payment
Lease Period
Lease Terms
Leased Asset
Lender
Lessor
Loan Amount
Loan Payment
Loan Period
Location
Loss
Maintenance Requirements
Material Adverse Effect
Option to Purchase
Outstanding Balance
Parties
Payment Date
Payment Schedule
Permitted Use
Purchase Price
Related Company
Relevant Documents
Repayment Schedule
Security Interest
Special Conditions
Term
Territory
Total Amount Payable
Asset
Business Day
Commencement Date
Default Event
Default Interest Rate
Default Notice
Encumbrance
Event of Default
Expiry Date
Fair Wear and Tear
Finance Amount
GST
Guarantor
Initial Term
Interest Rate
Lease Payment
Lease Period
Lease Terms
Leased Asset
Lender
Lessor
Loan Amount
Loan Payment
Loan Period
Location
Loss
Maintenance Requirements
Material Adverse Effect
Option to Purchase
Outstanding Balance
Parties
Payment Date
Payment Schedule
Permitted Use
Purchase Price
Related Company
Relevant Documents
Repayment Schedule
Security Interest
Special Conditions
Term
Territory
Total Amount Payable
Clauses
Financial Terms
Payment Obligations
Interest Charges
Security Interest
Asset Usage
Maintenance and Repairs
Insurance Requirements
Risk and Liability
Default and Enforcement
Termination Rights
Assignment and Transfer
Representations and Warranties
Covenants
Indemnification
Force Majeure
Confidentiality
Notices
Dispute Resolution
Governing Law
GST and Taxation
Asset Return
Option to Purchase
Events of Default
Acceleration
Security Enforcement
Guarantees
Amendment and Variation
Severability
Entire Agreement
Counterparts
Payment Obligations
Interest Charges
Security Interest
Asset Usage
Maintenance and Repairs
Insurance Requirements
Risk and Liability
Default and Enforcement
Termination Rights
Assignment and Transfer
Representations and Warranties
Covenants
Indemnification
Force Majeure
Confidentiality
Notices
Dispute Resolution
Governing Law
GST and Taxation
Asset Return
Option to Purchase
Events of Default
Acceleration
Security Enforcement
Guarantees
Amendment and Variation
Severability
Entire Agreement
Counterparts
Relevant Industries
Manufacturing
Construction
Agriculture
Transportation
Mining
Healthcare
Technology
Retail
Hospitality
Telecommunications
Energy
Infrastructure
Logistics
Professional Services
Relevant Teams
Legal
Finance
Risk Management
Treasury
Operations
Procurement
Credit
Commercial
Compliance
Asset Management
Relevant Roles
Chief Financial Officer
Finance Manager
Legal Counsel
Contract Manager
Risk Manager
Treasury Manager
Asset Manager
Operations Director
Procurement Manager
Credit Manager
Commercial Director
Equipment Manager
Fleet Manager
Financial Controller
Compliance Officer
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