Loan Definition

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GLOSSARY

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What does Loan mean?

An advance of funds from one party (the creditor) to another party (the debtor) for a period of time. The funds can be advanced for an agreed period or be repayable upon demand. Interest is usually paid on the advance which can be secured or unsecured

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EU Securitisation Regulation—timeline

EU Securitisation Regulation—timeline This timeline shows key developments relating to Regulation (EU) 2017/2402 (the EU Securitisation Regulation) from January 2024 onwards. For earlier developments, see EU and UK Securitisation Regulations—timeline [Archived]. 2025 Date Source Document Description 1 April 2025 AFME The Joint Associations’ response to the ESMA consultation of February 2025 on the revision of the disclosure framework for private securitisation AFME, Commercial Real Estate Finance Council (CREFC) Europe and International Capital Market Association (ICMA) submitted a joint response to the European Securities and Markets Authority's (ESMA) consultation on revising private securitisation disclosure requirements. The joint response argues against: introducing a simplified reporting regime for EU-originated securitisations before wider reforms, citing concerns about potential changes to private securitisation definitions, continued template-based reporting requirements, and unresolved third-country reporting issues. They propose an alternative approach focusing on supervisory reporting needs while allowing more flexible investor disclosures.See: LNB News 01/04/2025 71. 31 March 2025 EBA Joint Committee Report on the implementation and functioning of the Securitisation Regulation (Article 44) The Joint Committee...

Seller's SPA drafting guide (unconditional completion)—checklist

Seller's SPA drafting guide (unconditional completion)—checklist This Checklist serves as a guide of certain key matters for the seller’s solicitors to consider when drafting, or commenting on, a share purchase agreement (also known as SPA or share sale agreement) recording the sale and purchase of the entire issued share capital of a private limited company, where the transaction involves simultaneous exchange and completion. Parties The drafter should: • check to see if the legal and beneficial title to the sale shares is split, ie check to see if the seller's sale shares are held in the name of a nominee, requiring the beneficial owner to: ◦ be named as the seller in the SPA instead of the registered holder, and ◦ procure the sale of the sale shares to the buyer • check to see if the transaction involves any parties connected with company directors, which may constitute substantial property transactions requiring certain approvals (see Practice Note: Substantial property transactions—requirement to obtain members’ approval) • resist proposals to include in...

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Ireland—Signing off on the documentary conditions precedent in a loan transaction

Ireland—Signing off on the documentary conditions precedent in a loan transaction Each of the documentary conditions precedent (CPs) to funding must be satisfied (or waived) before funding can take place. Who signs off on the documentary CPs? Once all of the documentary CPs have been satisfied (or waived), the lender (or, in syndicated transactions, the facility agent) will usually be required by the terms of the facility agreement to confirm to the borrower, in writing, that this is the case. However, whether the documentary CPs have been satisfied will have been determined by a number of factors: legal, commercial and factual issues will have been addressed by a combination of the lender(s) and the lawyers acting for the lender(s). Therefore, signing off on the documentary CPs will involve both the lender(s) and lawyers. It is important, however, to note that the final commercial decision on whether to lend is made by the lender(s) rather than their lawyers. Role of the lawyers for the lender(s)—issuing a CP satisfaction letter Finding a...

Bridge to bond facilities

Bridge to bond facilities What are they? A bridge to bond facility is a type of acquisition financing where the buyer requires the certainty of a fully committed financing package, but which is intended to be replaced in the future with a mid- to long-term financing in the form of high yield bonds. In markets where acquisitions typically do not have a financing condition, a bridge financing package (which is available to be drawn if necessary) is often a key component to a successful bid. This Practice Note focuses on bridge to high yield bond financing. However, investment-grade borrowers also commonly use bridge facilities for acquisitions. Bridge commitments for investment-grade borrowers differ in many ways, including: lower pricing, much less restrictive covenants (the terms often follow the borrower’s existing credit facilities) and the securities demand mechanic may not be included (or if included, it may only be triggered by ratings downgrade). Bridge commitments for investment grade borrowers may also have longer maturities (or extension rights exercisable by...

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Ireland—Notice of assignment of contractual rights and form of acknowledgement for an assignment by way of security: single company assignor—bilateral—specific monies

Notice of assignment of contractual rights from an assignor incorporated as a limited company in Ireland with a form of acknowledgement from the contract counterparty This is a Precedent Notice of Assignment which can be used to give notice of an assignment of contractual rights by way of security from an assignor to its contract counterparty. This drafting note explains the context in which this Precedent Notice of Assignment might be used as well as the features of this Precedent Notice of Assignment and the assumptions on which it is based. For information on taking security over contractual rights, see Practice Note: Ireland—Assignments by way of security. Parties to this Precedent Notice of Assignment This Precedent Notice of Assignment is designed for use in bilateral transactions (ie where there is only one lender) as opposed to syndicated transactions (ie where there is more than one lender). It has been drafted as being: • from a single security provider (defined as the ‘Assignor’) • to its contract counterparty and refers to...

Records retention schedule

Records retention schedule 1 Introduction 1.1 This Record retention schedule accompanies and is incorporated into [insert organisation’s name]’s Records management policy. It sets out the time periods that different types of Business Records (as defined in the Records management policy) must be retained for business and legal purposes. [You do need not read the entire retention schedule, but rather should focus on the types of records relevant to your role.] 1.2 The retention periods in the schedule are based on business needs and legal requirements, including our obligation under data protection law not to keep personal data for longer than is necessary. Once a retention period has expired the data or record should be reviewed and destroyed if it is no longer needed. 1.3 If you maintain any types of records that are not listed in this schedule, and it is not clear from the existing record types in this schedule what retention period should apply, please contact [insert who, eg the Data Protection Officer]...

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Where can I find information relating to FCA perimeter issues?

Where can I find information relating to FCA perimeter issues? The FCA's Perimeter Guidance manual (PERG) provides guidance about the circumstances in which authorisation is required, or exempt person status is available, including guidance on the activities which are regulated under the Financial Services and Markets Act 2000 (the Act) and the exclusions which are available. Application of the Perimeter Guidance manual (PERG) PERG applies to: • a person who is considering carrying on activities in the United Kingdom which may fall within the scope of the Act and is seeking guidance on whether he/she needs to be an authorised person • a person who seeks to become an authorised person under the Act and who is, or is considering, applying for Part 4A permission to carry on regulated activities in the United Kingdom • a person who is seeking guidance on whether any communication he/she may be seeking to make or cause to be made will be a financial promotion and be subject to the restriction...

I have a client who is UK tax resident but non-domiciled. He holds some dollar bonds in his clean capital accounts. Can I check whether foreign currency bonds are exempt from capital gains tax as qualifying corporate bonds (QCBs)? Can you please confirm the rules in relation to them? Separately, on remittance does any gain on QCBs have to be declared?

I have a client who is UK tax resident but non-domiciled. He holds some dollar bonds in his clean capital accounts. Can I check whether foreign currency bonds are exempt from capital gains tax as qualifying corporate bonds (QCBs)? Can you please confirm the rules in relation to them? Separately, on remittance does any gain on QCBs have to be declared? In this Q&A, we have assumed that the individual is a remittance basis user by way of claim and the bonds are non-UK situs assets for the purposes of capital gains tax (CGT). For CGT purposes, a bond is a qualifying corporate bond (QCB) if it is a security the debt on which represents a normal commercial loan ‘expressed in sterling’ with no conversion into or redemption in another currency (section 117 of the Taxation of Chargeable Gains Act 1992 (TCGA 1992)). Bonds that are dollar denominated are unlikely to meet the requirement of being expressed in sterling and therefore will not be a QCB...

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Tax weekly highlights—12 June 2025

This week's edition of Tax weekly highlights includes: (1) the publication of the government’s response to the consultation on the tax treatment of carried interest, (2) the impact of the Spending Review on HMRC, (3) an update to the FTT’s guidance on oral evidence from abroad and (4) HMRC’s update on capital allowances areas of uncertainty.

Liability apportioned 80% to professional trustee which failed to perform adequate due diligence when making high-risk property investment (Mr S, CAS-78433-Y1Y8)

Pensions analysis: The Pensions Ombudsman has upheld a complaint about the investment of pension scheme assets. Martin Scott of gunnercooke LLP looks at the decision.

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GLOSSARY

Loan definition

What does Loan mean?

View the related checklists about Loan

EU Securitisation Regulation—timeline

Seller's SPA drafting guide (unconditional completion)—checklist

View the related practice notes about Loan

Ireland—Signing off on the documentary conditions precedent in a loan transaction

Bridge to bond facilities

View the related precedents about Loan

Ireland—Notice of assignment of contractual rights and form of acknowledgement for an assignment by way of security: single company assignor—bilateral—specific monies

Records retention schedule

View the related q&as about Loan

Where can I find information relating to FCA perimeter issues?

View the related News about Loan

Tax weekly highlights—12 June 2025

Liability apportioned 80% to professional trustee which failed to perform adequate due diligence when making high-risk property investment (Mr S, CAS-78433-Y1Y8)

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GLOSSARY

Loan definition

What does Loan mean?

View the related checklists about Loan

EU Securitisation Regulation—timeline

Seller's SPA drafting guide (unconditional completion)—checklist

View the related practice notes about Loan

Ireland—Signing off on the documentary conditions precedent in a loan transaction

Bridge to bond facilities

View the related precedents about Loan

Ireland—Notice of assignment of contractual rights and form of acknowledgement for an assignment by way of security: single company assignor—bilateral—specific monies

Records retention schedule

View the related q&as about Loan

Where can I find information relating to FCA perimeter issues?

View the related News about Loan

Tax weekly highlights—12 June 2025

Liability apportioned 80% to professional trustee which failed to perform adequate due diligence when making high-risk property investment (Mr S, CAS-78433-Y1Y8)

Call us on

Popular Links

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LEGAL SOLUTIONS

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