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Secured Loan Note
"Need a Secured Loan Note for a S$5 million loan to be secured against commercial property in Singapore's CBD, with quarterly interest payments and full repayment by March 2025. The borrower is a property development company and we need to include financial covenants."
1. Parties: Identifies the lender and borrower with full legal names and addresses
2. Background: Sets out the context of the loan and security arrangement
3. Definitions: Defines key terms used throughout the document
4. Loan Amount and Purpose: Specifies the principal amount and permitted use of funds
5. Interest and Repayment Terms: Details interest rate, calculation method, and repayment schedule
6. Security: Describes the assets provided as security and creation of security interest
7. Representations and Warranties: Statements of fact by the borrower regarding their status and the security
8. Events of Default: Lists circumstances constituting default and consequences
1. Guarantee: Additional security provisions when there is a third-party guarantor
2. Insurance Requirements: Specific insurance requirements for secured assets when physical assets are involved
3. Financial Covenants: Financial ratios and requirements to be maintained by corporate borrowers
1. Schedule 1 - Security Assets: Detailed description of assets provided as security
2. Schedule 2 - Repayment Schedule: Detailed payment dates and amounts
3. Schedule 3 - Conditions Precedent: List of documents and conditions required before drawdown
4. Schedule 4 - Form of Drawdown Notice: Template for requesting loan disbursement
5. Appendix A - Security Documents: Forms of security documents including charges, pledges, and other security instruments
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