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Loan Note Template for Australia

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Key Requirements PROMPT example:

Loan Note

"I need a Loan Note for a A$5 million secured loan to a technology startup, with quarterly interest payments at 8.5% per annum and maturity in March 2025, including conversion rights for up to 25% of the company's equity."

Document background
A Loan Note is commonly used in Australian business and financial transactions to formalize debt arrangements between parties. This document is particularly useful when companies or individuals need to raise capital through debt financing while providing investors with a formal instrument evidencing their investment. The Loan Note contains detailed terms regarding the loan amount, interest calculations, repayment schedules, and security arrangements (if any). It is designed to comply with Australian financial services regulations and corporate law, particularly the Corporations Act 2001 (Cth) and related legislation. The document is suitable for both institutional and private lending arrangements and can be adapted for various financing scenarios, from simple bilateral loans to more complex debt instruments with multiple noteholders.
Suggested Sections

1. Parties: Identifies the issuer (borrower) and the noteholder (lender)

2. Background: Sets out the context of the loan note issuance and the parties' intentions

3. Definitions and Interpretation: Defines key terms used throughout the document and establishes interpretation rules

4. Subscription and Issue: Details the terms of subscription, issue price, and conditions for the loan note issuance

5. Interest: Specifies the interest rate, calculation method, and payment dates

6. Repayment: Sets out the terms for repayment of the principal amount, including maturity date and any early repayment provisions

7. Events of Default: Lists circumstances that constitute default and the consequences thereof

8. Representations and Warranties: Contains statements of fact and assurances given by the issuer

9. Covenants: Details the ongoing obligations of the issuer during the term of the note

10. Transferability: Specifies whether and how the note can be transferred to other parties

11. Notices: Sets out how formal communications between parties should be made

12. General Provisions: Contains standard boilerplate clauses including governing law, jurisdiction, and amendments

Optional Sections

1. Security: Include when the loan note is secured against specific assets or guarantees

2. Conversion Rights: Include for convertible loan notes that can be converted into equity

3. Ranking and Subordination: Include when the note's priority relative to other debt needs to be established

4. Tax Gross-Up: Include when tax implications need to be addressed, particularly for withholding tax

5. Financial Covenants: Include when specific financial ratios or conditions must be maintained

6. Information Rights: Include when the noteholder requires specific reporting or information access rights

7. Meeting Provisions: Include when there are multiple noteholders who may need to make collective decisions

Suggested Schedules

1. Form of Note Certificate: Template of the physical note certificate if required

2. Calculation of Interest: Detailed methodology for interest calculations, particularly if complex

3. Repayment Schedule: Detailed schedule of repayment dates and amounts if installment payments apply

4. Form of Transfer Certificate: Template for documenting transfers of the note to new holders

5. Security Details: Detailed description of any security assets and enforcement procedures

6. Financial Covenant Calculations: Formulae and methods for calculating financial covenants

7. Required Notices and Forms: Templates for various notices required under the note

Authors

Alex Denne

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

Relevant legal definitions

















































Clauses


































Relevant Industries

Financial Services

Banking

Investment Management

Private Equity

Real Estate

Technology

Manufacturing

Retail

Infrastructure

Energy

Mining

Healthcare

Agriculture

Construction

Telecommunications

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Corporate Development

Investment

Credit

Company Secretariat

Capital Markets

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Investment Manager

Corporate Lawyer

Legal Counsel

Compliance Officer

Financial Controller

Credit Manager

Risk Manager

Company Secretary

Investment Banker

Debt Capital Markets Officer

Private Equity Manager

Fund Manager

Corporate Banking Manager

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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