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Loan Collateral Agreement Template for Ireland

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Key Requirements PROMPT example:

Loan Collateral Agreement

"I need a Loan Collateral Agreement under Irish law for a €5 million commercial real estate development loan closing in March 2025, with the security package to include both the property and rental income streams."

Document background
The Loan Collateral Agreement is a fundamental document in secured lending transactions under Irish law, used when a lender requires security over specific assets to protect their loan exposure. This agreement is essential in both commercial and consumer lending contexts, though its complexity and requirements vary accordingly. The document creates legally enforceable security interests over various types of collateral, including real property, personal property, intellectual property, and financial assets. It must comply with Irish legal requirements, including those under the Companies Act 2014 and relevant property laws, and may need to address EU regulations where applicable. The agreement typically works in conjunction with a primary loan agreement and includes detailed provisions for the creation, perfection, maintenance, and enforcement of security interests. It is particularly important in ensuring the lender's security position is properly protected and enforceable under Irish law.
Suggested Sections

1. Parties: Identification of the lender, borrower, and any guarantors or security providers

2. Background: Context of the agreement, reference to the underlying loan agreement, and purpose of the security

3. Definitions and Interpretation: Definitions of key terms and interpretation rules used throughout the agreement

4. Creation of Security Interest: Legal provisions creating the security interest over the collateral

5. Secured Obligations: Definition and scope of the obligations being secured by the collateral

6. Representations and Warranties: Statements of fact and assurances from the security provider about the collateral and their authority

7. Covenants: Ongoing obligations of the security provider regarding maintenance and preservation of the collateral

8. Perfection Requirements: Actions required to perfect the security interest and maintain its validity

9. Enforcement: Rights and remedies of the lender upon default, including power of sale

10. Further Assurance: Obligation to execute additional documents and take actions to protect the security interest

11. Costs and Indemnities: Allocation of costs and indemnification obligations

12. Notices: Communication procedures between parties

13. Assignment and Transfer: Rights and restrictions regarding transfer of rights under the agreement

14. Governing Law and Jurisdiction: Specification of Irish law as governing law and jurisdiction for disputes

Optional Sections

1. Consumer Protection Provisions: Required when the borrower is a consumer, incorporating relevant Consumer Credit Act protections

2. Real Property Provisions: Specific provisions required for real property collateral, including Land Registry requirements

3. Insurance Requirements: Detailed insurance obligations when the collateral requires specific insurance coverage

4. Third Party Rights: Provisions regarding rights of third parties, required when there are existing encumbrances

5. Cross-Default: Links to other security documents when part of a larger security package

6. Currency Provisions: Required for cross-border transactions involving multiple currencies

7. Tax Provisions: Specific tax-related provisions when tax implications are significant

8. Security Agent Provisions: Required in syndicated lending arrangements with a security agent

Suggested Schedules

1. Schedule 1 - Description of Collateral: Detailed description and identification of all assets subject to the security interest

2. Schedule 2 - Form of Notice: Standard forms of notices required for perfection of the security

3. Schedule 3 - Properties: Details of any real property included in the security package

4. Schedule 4 - Intellectual Property: List and details of any intellectual property rights included as collateral

5. Schedule 5 - Existing Security Interests: Details of any permitted existing security interests over the collateral

6. Schedule 6 - Bank Accounts: Details of relevant bank accounts subject to the security

7. Appendix A - Registration Requirements: Checklist of registration requirements for different types of collateral

8. Appendix B - Security Interest Perfection Steps: Detailed procedures for perfecting the security interest

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





























































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Relevant Industries

Banking

Financial Services

Real Estate

Manufacturing

Technology

Agriculture

Retail

Construction

Energy

Healthcare

Transportation

Telecommunications

Mining

Professional Services

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Commercial

Credit

Corporate Secretariat

Banking

Securities

Relevant Roles

Legal Counsel

Finance Director

Credit Manager

Risk Manager

Compliance Officer

Commercial Director

Chief Financial Officer

Treasury Manager

Corporate Lawyer

Banking Lawyer

Security Trustee

Loan Officer

Corporate Secretary

Finance Manager

Legal Director

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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