Business loan agreements can be highly negotiated documents and borrowers need to be made aware of terms which could adversely affect their position.
At Francis Wilks & Jones, one of the most challenging negotiated terms we deal with is the “events of default” clause. To a business owner what constitutes an event of default is very important to understand because if certain obligations are not complied with the lender will have a right to terminate the whole loan agreement and make the monies repayable on demand.
Our banking and finance lawyers can provide effective advice to you on drafting your business loan agreement and help you to understand the significance of terms relating to cross-default, breach of undertaking, breach of financial covenant, material adverse change, breach of representation, change of business, change of control, insolvency and related proceedings, other proceedings, unlawful performance.
Whatever the nature of your secured business loan enquiry, Francis Wilks & Jones has a leading team of banking and finance solicitors to help you understand your business loan agreement. We have broad expertise in drafting loan agreements and can advise you on the entire agreement or on specific business loan clauses. Our knowledge of business loan agreements is second to none.