The Commercial Loan Term Sheet is a crucial preliminary document in commercial lending transactions governed by English and Welsh law. It is typically used when parties have reached agreement in principle on key commercial terms but before detailed loan documentation is prepared. The document outlines fundamental aspects such as facility amount, purpose, pricing, tenor, and security structure, serving as a roadmap for lawyers to draft the full loan agreement. While generally non-binding, it helps avoid misunderstandings and provides a clear framework for subsequent negotiations and documentation.
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1. Transaction Summary: Key commercial terms including facility amount, purpose, and term
2. Borrower Details: Full legal name and registration details of the borrowing entity
3. Lender Details: Full legal name and registration details of the lending institution
4. Facility Type: Description of loan type (term loan, revolving facility, etc.)
5. Key Financial Terms: Interest rate, fees, repayment terms, and financial covenants
1. Security Package: Details of any collateral or guarantees, used when loan is secured
2. Conditions Precedent: Pre-disbursement requirements, included for complex transactions
3. Special Conditions: Any transaction-specific requirements or terms
1. Repayment Schedule: Detailed breakdown of repayment dates and amounts
2. Fee Schedule: Comprehensive list of all applicable fees
3. Security Details: Detailed description of security assets and arrangements
4. Financial Covenant Calculations: Methodology for calculating financial covenants
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