The Loan Lease Agreement is a sophisticated financial instrument used in Canadian business transactions where parties seek to combine asset financing with leasing arrangements. This hybrid document is particularly useful when a business needs both funding and access to specific assets but prefers not to make an outright purchase. The agreement typically covers financing terms, lease conditions, security arrangements, and operational requirements. As a Loan Lease Agreement, it must comply with Canadian federal regulations including the Interest Act and Bank Act, as well as provincial legislation such as the Personal Property Security Act and Consumer Protection Act. It's commonly used in equipment financing, commercial real estate, and large-scale asset acquisitions, providing flexibility in financing while maintaining clear title and security arrangements for all parties involved.
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1. Parties: Identifies and provides full legal details of all parties to the agreement
2. Background: Provides context for the agreement and explains the parties' intentions
3. Definitions: Defines key terms used throughout the agreement
4. Loan Terms: Specifies the loan amount, interest rate, repayment terms, and payment schedule
5. Lease Terms: Details the lease period, permitted use of asset, and maintenance obligations
6. Payment Obligations: Outlines all payment obligations including loan repayments, lease payments, and other charges
7. Security: Describes any security interests, collateral, or guarantees required
8. Representations and Warranties: States the facts and assurances each party provides to the other
9. Covenants: Lists ongoing obligations and restrictions on both parties
10. Default and Remedies: Defines events of default and available remedies
11. Insurance Requirements: Specifies required insurance coverage for the leased asset
12. Assignment and Transfer: Details rights and restrictions regarding transfer of rights under the agreement
13. Notices: Specifies how formal communications between parties should be made
14. Governing Law: Specifies applicable law and jurisdiction
15. General Provisions: Includes standard boilerplate clauses
1. Environmental Compliance: Required when the leased asset involves environmental risks or regulations
2. Tax Matters: Added when specific tax arrangements or implications need to be addressed
3. Property Maintenance: Include when the agreement involves real property or complex equipment
4. Sub-lease Rights: Added when sub-leasing might be permitted
5. Purchase Option: Include when the lessee has the option to purchase the asset
6. Force Majeure: Added when specific circumstances beyond parties' control need to be addressed
7. Guarantor Provisions: Required when a third party guarantees the obligations
8. Special Industry Requirements: Added for industry-specific compliance or operational requirements
1. Schedule A - Asset Description: Detailed description of the leased asset(s)
2. Schedule B - Payment Schedule: Detailed breakdown of all payments including principal, interest, and lease payments
3. Schedule C - Insurance Requirements: Specific insurance requirements and minimum coverage amounts
4. Schedule D - Maintenance Requirements: Detailed maintenance and repair obligations
5. Schedule E - Permitted Use: Specific terms regarding permitted use of the asset
6. Schedule F - Condition Report: Initial condition report of the leased asset
7. Appendix 1 - Form of Security Agreement: Standard form security agreement if applicable
8. Appendix 2 - Guarantor Agreement: Standard form guarantor agreement if applicable
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Manufacturing
Commercial Real Estate
Transportation and Logistics
Agriculture
Construction
Mining and Resources
Healthcare
Retail
Technology and Equipment
Aviation
Industrial Equipment
Automotive
Energy and Utilities
Relevant Teams
Legal
Finance
Treasury
Risk Management
Operations
Procurement
Compliance
Credit
Asset Management
Property Management
Business Development
Contract Administration
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Contract Manager
Risk Manager
Treasury Manager
Asset Manager
Operations Director
Procurement Manager
Compliance Officer
Financial Controller
Business Development Manager
Credit Risk Officer
Lease Administrator
Property Manager
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