Loan Agreement

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Parties›Loan Documents›Loan Terms…

Parties10 questions

1. What type of business entity is the company entering into this document?

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2. Which state's law governs this loan agreement?

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3. Lender's full legal name

4. In what capacity is the lender acting?

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5. Lender's notice address

6. Borrower's full legal name

7. Borrower's notice address

8. Are there co-borrowers, co-makers, or other parties jointly obligated on this loan?

9. Loan agreement date

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10. Primary purpose of the loan

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Loan Documents3 questions

11. What is the loan structure?

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12. Which documents are included in the loan package?

13. Will there be a separate promissory note in addition to this loan agreement?

Loan Terms5 questions

14. Is this a consumer loan or a business/commercial loan?

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15. Maximum loan commitment or principal amount (dollars)

16. What fees apply to this loan?

17. Will fees, payoffs, reserves, or escrow holdbacks reduce the net amount disbursed to the borrower?

18. What permitted uses of loan proceeds apply, and are any uses prohibited?

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Funding Conditions2 questions

19. What conditions must be satisfied before the lender is obligated to fund?

20. Does this loan involve multiple advances or draws after the initial closing?

Interest3 questions

21. Will this loan charge interest?

22. Will a higher default interest rate apply after a default event or maturity?

23. Include a maximum-lawful-rate savings clause?

Repayment6 questions

24. What is the repayment structure?

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25. Final maturity date

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26. If a payment due date falls on a weekend or bank holiday, when is payment due?

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27. How and where are payments made?

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28. In what order are payments applied?

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29. Should the agreement include or attach a payment schedule showing each payment date, amount, and breakdown?

Fees & Default11 questions

30. Late payment fee structure

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31. Grace period before late fee is triggered

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32. Must the lender provide written notice and a cure period before declaring a payment default?

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33. For nonmonetary defaults (covenant breach, misrepresentation, unauthorized transfer), how long does the borrower have to cure?

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34. May the borrower prepay the loan (in full or in part) without penalty?

35. Are mandatory prepayments required from specified events?

36. Must the lender provide a payoff statement on borrower's request, and within how many business days?

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37. Which events constitute a default under this loan?

38. Include an acceleration clause making the full balance due on default?

39. After a default, what remedy sequence governs?

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40. Should the borrower waive presentment, protest, notice of dishonor, and similar defenses?

Representations4 questions

41. Is the borrower an individual or an entity?

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42. Which borrower representations should be included?

43. What financial information has the borrower delivered in connection with this loan?

44. Should lender representations be included?

Covenants5 questions

45. Which affirmative covenants should the borrower be required to maintain?

46. Which negative covenants (prohibitions) should apply?

47. Will financial covenants be included (measurable performance tests)?

48. What financial reporting must the borrower deliver to the lender?

49. May the lender inspect the borrower's books, records, and collateral?

Security & Guaranty2 questions

50. Is this loan secured by collateral?

51. Is there a personal or entity guarantor?

Priority & Intercreditor1 question

52. Is this loan subordinated to senior debt or subject to an intercreditor agreement?

Legal Terms9 questions

53. Can the lender recover attorney's fees and collection costs if forced to enforce the loan?

54. What are the notice requirements and delivery methods?

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55. May the lender assign the loan, sell participations, or appoint a servicer without borrower consent?

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56. May the borrower assign its rights or delegate its obligations under the loan agreement?

57. Who must sign amendments, waivers, and forbearances?

58. How should disputes be resolved?

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59. Include a mutual jury trial waiver?

60. In which county should disputes be venued?

61. Which standard commercial-agreement provisions should be included?

Execution4 questions

62. Are electronic signatures acceptable for the loan documents?

63. What authority and organizational documents are required from entity parties?

64. What must be delivered at closing for the loan to be funded?

65. Who holds original notes, mortgage originals, title documents, and recorded instruments?

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✓ Grounded - not a guessArti is filling the attorney's framework with your answers - it never writes the law.

Required - please read and check this box to generate:ArtiEsq provides self-help legal information and document automation. ArtiEsq is not a law firm, does not provide legal advice, and use of this product does not create an attorney-client relationship. You are responsible for reviewing the document and determining whether you should consult a licensed attorney for legal advice about your specific situation.

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