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Group Loan Agreement

The borrower is a [100% owned by the direct or indirect subsidiary (as defined below) of the lender. The lender has agreed to make available to the borrower an unsecured loan of $1 billion (to be included in numbers) ([the amount of the loan in terms of words] of pounds sterling) subject to the terms of this agreement. To borrow money under an intragroup loan agreement, the borrower must pay an interest amount set to the lender and repay the loan on certain dates. This document is not on The Length and is refundable upon request. An on-demand loan means that the lender can request repayment of the loan at any time. As a general rule, a credit subsidiary does not need a guarantee over the life of the loan and the lender can also eliminate the need for guarantees, payment cases, alliances, representations and guarantees, as would be the case in a credit relationship between two unrelated parties. If the parties attach a certain duration and more important conditions to the loan, our long form loan agreement may be more appropriate. This intragroup loan agreement (on demand) governs the granting of a loan at the request of a parent company to one of its subsidiaries. It is appropriate to use when a parent company lends money to a subsidiary that it knows and has, and wishes to document the basic terms of the agreement in a simple document, in order to avoid any possible misunderstanding about the loan that might otherwise arise if there is no formal registration beyond the accounting posts. There may be cases where, instead of attributing the benefit of an agreement to a third party, the original parties reseed each other`s obligations under that agreement and recreate them in fact, the third following in the footsteps of one of the original parties. It is an intragroup relationship between the borrower and the lender, an intragroup loan agreement does not contain full commitments and guarantees, nor bonds or restrictions on the part of the borrower. To see the latest version of this document and thousands of others, log in to LexisPSL or sign up for a free trial.

The parent company fulfils all its obligations under the intragroup loan contracts. The previous Bank-Finance provides comprehensive and up-to-date legal information on the following topics: . a day other than a Saturday, a Sunday or a public holiday, when London banks are generally open to commercial transactions; a [a subsidiary within the meaning of section 1159 of the Companies Act 2006 or a subsidiary within the meaning of Section 1162 of the Companies Act 2006].

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