Receipt of Funds (Credit Agreement)

Summary

This precedent is a form of receipt issued by a borrower to a lender acknowledging the receipt of funds in a loan transaction. It is issued upon any advance made by a lender to a borrower under a loan agreement. This precedent includes practical guidance and drafting notes. For more information on loan and security agreements, see the practice notes Loan Types, Asset-Based Loans, Loan Agreement Alternatives, and Termination of Loan and Security Documents. For more information about the use of covenants in a loan agreement, see Covenants in a Loan Agreement. For an overview of the key elements found in a loan agreement, see Loan Agreement: Key Elements. For information to assist you with the drafting and negotiation of loan and credit agreements, see the flowchart Loan and Credit Agreements Table. For an introduction to asset-based financing, see Asset-Based Financing. For a high-level overview of the many items that a party will need to consider when drafting a loan agreement, see Loan...