The Intercompany Loan Clause Samples
The Intercompany Loan clause establishes the terms and conditions under which one company within a corporate group lends money to another affiliated company. Typically, this clause outlines the loan amount, interest rate, repayment schedule, and any security or guarantees required, ensuring both parties understand their obligations. Its core practical function is to formalize intra-group financing arrangements, providing legal clarity and helping to prevent disputes or misunderstandings between related entities.
The Intercompany Loan. Subject to the terms of this Agreement, the Issuer agrees to make available to the Guarantor, on an unsecured basis, an Intercompany Loan (the “Intercompany Loan”) in an aggregate amount equal to the Total Credit Commitment comprised of the Initial Advance Commitment and the Revolving Commitment. On any Toronto Business Day, the Guarantor may request that advances (each an “Advance” and collectively “Advances”) denominated in Canadian dollars under the Intercompany Loan be made available to it, subject to the terms of this Agreement, on such Toronto Business Day (each such date, a “Drawdown Date”).
The Intercompany Loan. Subject to the terms of this Agreement, the Issuer agrees to make available to the Guarantor LP an Intercompany Loan (the “Intercompany Loan”) in an aggregate amount equal to the Total Credit Commitment. On any Business Day, the Guarantor LP may request that advances (each an “Advance” and collectively “Advances”) denominated in Canadian Dollars under the Intercompany Loan be made available to it, subject to the terms of this Agreement, on such Business Day (each such date, a “Drawdown Date”).
The Intercompany Loan.
2.1 The Intercompany Loan
(a) Subject to the terms of this Agreement, the Issuer agrees to make available to the Guarantor, on an unsecured basis, an Intercompany Loan (the “Intercompany Loan”) in an aggregate amount equal to the Total Credit Commitment comprised of the Initial Advance Commitment and the Revolving Commitment. On any Canadian Business Day, the Guarantor may request that advances, other than Issue Advances, (each an “Advance” and collectively the “Advances”, which term for greater certainty does not include Issue Advances) denominated in Canadian dollars under the Intercompany Loan be made available to it, subject to the terms of this Agreement, on such Canadian Business Day (each such date, a “Drawdown Date”).
(b) The Issuer shall also make Issue Advances to the Guarantor in connection with each issuance of a Tranche and/or Series of Covered Bonds. Each Issue Advance may be denominated in Canadian dollars or in a currency other than Canadian dollars as specified in the applicable Issue Notice.
(c) The Guarantor agrees to repay each Issue Advance in accordance with Sections 3.1(c) and 12.2.
The Intercompany Loan. Subject to the terms of this Agreement, the Intercompany Loan Provider agrees to make available to the Guarantor an intercompany loan (the “Intercompany Loan”) in an aggregate amount equal to the Total Credit Commitment. On any Canadian Business Day, the Guarantor may request that advances (each an “Advance” and collectively “Advances”) denominated in Canadian Dollars under the Intercompany Loan be made available to it, subject to the terms of this Agreement, on such Canadian Business Day (each such date, a “Drawdown Date”).
The Intercompany Loan. Subject to the terms of this Agreement, the Issuer agrees to make available to the Guarantor an Intercompany Loan (the “Intercompany Loan”) in an aggregate amount equal to the Total Credit Commitment comprised of the Initial Advance Commitment and the Revolving Commitment. On any Montreal Business Day, the Guarantor may request that advances (each an “Advance” and collectively “Advances”) denominated in Canadian dollars under the Intercompany Loan be made available to it, subject to the terms of this Agreement, on such Montreal Business Day (each such date, a “Drawdown Date”).
The Intercompany Loan. Subject to the terms of this Agreement, the Issuer agrees to make available to the Guarantor, on an unsecured basis, an intercompany loan (the “Intercompany Loan”) in an aggregate amount equal to the Total Credit Commitment comprised of the Initial Advance Commitment and the Revolving Commitment. On any Business Day, the Guarantor may request that advances (each an “Advance” and collectively “Advances”) denominated in Canadian dollars under the Intercompany Loan be made available to it, subject to the terms of this Agreement, on such Business Day (each such date, a “Drawdown Date”).