Loan and Security Agreement
(Bilateral)


Summary

This long-form Loan and Security Agreement template provides for both revolving and term loans (with provisions to obtain letters of credit) and provides several different interest rate options. It is a bilateral agreement, between the borrower and one lender. This template includes practical guidance, drafting notes, and optional and alternate clauses. This loan agreement template contemplates that the borrower will have subsidiaries and that the loans will be guaranteed by one or more corporate or individual guarantors. Note that this template combines the loan agreement and security agreement into one document. Often the two are separated into two documents, but the substances of both remain the same whether combined (as here) or separated. The most important factor in addressing the security agreement portion of this agreement is the identification of the collateral that is to secure the loan. Much of this loan agreement consists of representations, warranties, and covenants of the...