Asset Finance

Borrower board minutes approving execution of a facility agreement and debenture. They can also be used for a meeting of the directors of a company to approve other finance documents that the company is proposing to enter in connection with a secured financing transaction and are consistent with the requirements of Standard document, Facility agreement. However, if the facility agreement is not secured by a debenture, use Standard document, Board minutes: borrower approving facility agreement. This document includes integrated drafting notes.

Drafting note for the standard board minutes for a parent or group company guarantor approving a guarantee and indemnity of a subsidiary's obligations.  

A standard form debenture created by a company incorporated in England and Wales in favour of a single corporate lender. This standard document creates a mortgage over properties, fixed charges over a range of other assets and assignments by way of security over the benefit of contracts and insurance policies, together with a floating charge over assets not otherwise mortgaged, charged or assigned. This standard document contains integrated drafting notes and negotiating tips. For detailed information on legal issues that may arise when drafting a debenture, see Drafting note, About this document below.

A standard form deed of release by which a lender releases some, but not all, of the mortgages and charges granted to it by a security provider under a security agreement.

A standard form director's certificate (also known as an officer's certificate) to be provided by a director of a company which is a borrower or which is giving a guarantee or other security under a loan facility agreement. The standard document includes integrated drafting notes and negotiating tips. For detailed information on legal issues that may arise when drafting a director's certificate, see Drafting note, General document notes.

A drafting note to accompany the bilateral, secured, sterling, term facility agreement (also known as a loan agreement) between a single lender and a single borrower.

This drafting note provides guidance for completing and filing a paper Form MR01 to register at Companies House a charge created on or after 6 April 2013 by a company registered in England and Wales. Form MR01 can also be completed and filed online using the WebFiling service at Companies House.  For information on using WebFiling to complete and file a Form MR01, see the guidance notes on the Companies House website.

A specific liabilities guarantee and indemnity given by a corporate guarantor of a company. Both companies are incorporated in England and Wales and security has been given by the borrower.

An all monies, personal guarantee and indemnity given by a director of a borrower company of the company's debts. The borrower is incorporated in England and Wales.

A personal guarantee given by an individual guarantor  which guarantees and indemnifies the lender for the payment of all monies, debts and liabilities of a corporate borrower to that lender. The borrower is incorporated in England and Wales. If the guarantor is an individual who is a director of the borrower, use Standard document, Guarantee and indemnity: director's guarantee, all monies. NOTE: TO AVOID POTENTIAL UNDUE INFLUENCE ISSUES, THE LENDER SHOULD ENSURE THAT THE INDIVIDUAL TAKES SEPARATE LEGAL ADVICE ON THE GUARANTEE.    

A standard form chattel mortgage created by a company incorporated in England and Wales in favour of a single corporate lender. This standard document, Mortgage of chattels creates a mortgage and a fixed charge over the chattels of a private limited company incorporated in England and Wales, together with an assignment of all rights and agreements relating to those chattels. This standard document contains integrated drafting notes and negotiating tips. For detailed information on legal issues that may arise when drafting a mortgage of chattels, see Drafting note, Drafting assumptions and legal issues.

A letter from a borrower to an insurance company giving notice that the borrower has created security over its rights under an insurance policy held with that insurance company, and a letter from an insurance company to a lender acknowledging the creation of that security. For an example of a security document that creates a security interest over an insurance policy, see Standard document, Debenture. The standard document includes integrated drafting notes. For detailed information on legal issues that may arise when drafting a notice and acknowledgement of a security interest over an insurance policy, see Drafting note, General document notes and legal issues.

Specimen special resolution passed by the shareholders for the purposes of section 39 of the Companies Act 2006 in relation to approval and execution of a guarantee and indemnity. In the case of a private limited company the directors may ask the shareholders to pass a written special resolution rather than convene a general meeting. However, a public limited company must convene a general meeting of shareholders to pass an appropriate resolution. For more information on general meetings, see PLC Corporate, Practice note, General meetings (including AGMs) - conduct of the meeting and PLC Corporate, Practice note, General meetings (including AGMs): preparation and notice: 1 October 2007. For more information on special resolutions, see PLC Corporate, Practice note, Special resolutions: Companies Act 2006. For more information on written resolutions, see PLC Corporate, Practice note, Written resolutions: Companies Act 2006.

A letter from a lender to a borrower waiving a breach of one or more obligations of the borrower under a facility agreement (also known as a loan agreement). This standard document includes integrated drafting notes.