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Evergreen Loan Agreement for Ireland

Evergreen Loan Agreement Template for Ireland

This is a comprehensive loan agreement template governed by Irish law, structured as an evergreen facility that provides for ongoing, revolving credit without a fixed maturity date. The agreement incorporates key provisions required under Irish financial regulations and consumer protection legislation, including the Consumer Credit Act 1995 and Central Bank requirements. It details the mechanics of drawdowns, repayments, interest calculations, and ongoing compliance obligations while establishing a framework for the continuous nature of the credit facility.

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What is a Evergreen Loan Agreement?

This Evergreen Loan Agreement template is designed for use in the Irish jurisdiction when establishing continuous, revolving credit facilities between lenders and borrowers. It is particularly suitable for situations requiring ongoing access to credit without a fixed termination date, while maintaining flexibility for both parties to terminate or modify the arrangement under specified conditions. The agreement includes comprehensive provisions for drawdown mechanisms, interest calculations, repayment terms, and compliance requirements, all aligned with Irish banking regulations and financial services laws. This template caters to both corporate and individual borrowing scenarios, incorporating necessary provisions from the Consumer Credit Act 1995 and Central Bank requirements where applicable.

What sections should be included in a Evergreen Loan Agreement?

1. Parties: Identification of the Lender and Borrower with full legal names and addresses

2. Background: Context of the loan arrangement and purpose of the evergreen facility

3. Definitions and Interpretation: Key terms used throughout the agreement, including financial definitions and calculation conventions

4. The Facility: Details of the loan facility, including amount, purpose, and revolving nature

5. Drawdown: Conditions and procedures for drawing down funds, including notice requirements and availability periods

6. Interest: Interest rate provisions, calculation methods, and payment terms

7. Repayment: Terms for repayment of principal and the revolving nature of the facility

8. Payments: Payment mechanics, including account details, timing, and currency

9. Representations and Warranties: Standard and transaction-specific representations by the Borrower

10. Covenants: Ongoing obligations of the Borrower, including financial covenants and information requirements

11. Events of Default: Circumstances constituting default and consequences

12. Changes to Parties: Assignment and transfer provisions

13. Administration: Notice requirements, calculations, and day count conventions

14. Governing Law and Jurisdiction: Irish law as governing law and jurisdiction provisions

What sections are optional to include in a Evergreen Loan Agreement?

1. Security: Required if the loan is to be secured against assets or guarantees

2. Guarantees: Required if third-party guarantees are part of the credit support structure

3. Tax Gross Up and Indemnities: Detailed tax provisions if cross-border elements or complex tax considerations exist

4. Increased Costs: Provisions dealing with regulatory changes affecting the lender's costs, typically included for institutional lenders

5. Set-off Rights: Detailed set-off provisions if the parties maintain multiple financial relationships

6. Regulatory Compliance: Additional regulatory provisions if required by the nature of the parties or transaction

7. Multi-currency Provisions: Required if the facility can be drawn in multiple currencies

What schedules should be included in a Evergreen Loan Agreement?

1. Schedule 1 - Conditions Precedent: List of documents and conditions required before initial drawdown

2. Schedule 2 - Form of Drawdown Request: Template for borrower to request drawings under the facility

3. Schedule 3 - Form of Compliance Certificate: Template for periodic confirmation of compliance with financial covenants

4. Schedule 4 - Calculation of Interest Rate: Detailed methodology for interest calculations and screen rate provisions

5. Schedule 5 - Form of Transfer Certificate: Template for transferring rights and obligations under the agreement

6. Schedule 6 - Financial Covenants: Detailed financial covenant calculations and definitions

7. Appendix 1 - Contact Details: Administrative and notice details for all parties

8. Appendix 2 - Transaction Security Documents: List and copies of security documents if applicable

Authors

Alex Denne

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

Jurisdiction

Ireland

Publisher

Ƶ

Document Type

Financing Agreement

Cost

Free to use
Relevant legal definitions



































































Clauses





































Relevant Industries

Banking

Financial Services

Corporate Lending

Real Estate

Manufacturing

Retail

Technology

Healthcare

Construction

Infrastructure

Professional Services

Agriculture

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Credit

Corporate Banking

Relationship Management

Operations

Company Secretariat

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Corporate Lawyer

Legal Counsel

Compliance Officer

Credit Risk Manager

Relationship Manager

Financial Controller

Banking Director

Loan Officer

Corporate Secretary

Risk Manager

Transaction Manager

Portfolio 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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