In this case, Lisa has suffered losses due to the lender’s misrepresentation regarding the fixed interest rate. She may be able to seek a damages award to compensate for the financial harm caused by the lender’s wrongful conduct. Depending on the specific circumstances, the damages could include the additional interest paid, the lost profits from the contracts, and any other consequential damages suffered by Lisa’s business as a result of the lender’s misrepresentation.
Services
They outline investment returns, intellectual property rights, agreed upon milestones, and the cultivation of intangible assets. Supplier contracts mean different things in various industries, for example a manufacturer may have agreements for raw materials or components necessary for their product while a retail store will need to purchase merchandise to sell. A CFO’s command of supplier contracts is tantamount to the smooth operation of the corporate machinery. Negotiating prices, procure-to-pay process management, and quality assurance — each falls under the supplier contract purview.
Whether you’re entering into a financial arrangement with a business partner, spouse, or another party, a well-drafted financial agreement is the key to ensuring everyone involved understands their roles and responsibilities. This article serves as a comprehensive guide, breaking down the essential steps on how to write a financial agreement that stands up to scrutiny and fosters financial stability. By deciding on the division of assets beforehand, couples can avoid contentious and emotionally draining disputes when emotions may run high.
A financial agreement may also be referred to as a binding financial agreement, as it binds the parties to the terms and conditions outlined in the contract. Have both parties sign and date the agreement to make it legally binding. Financial agreements can be used in various situations, such as loans, investment agreements, and financial assistance agreements. I am an accomplished attorney with more than 16 years of experience and extensive expertise in business negotiations, commercial contracts, and technology transactions.
- Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated herein and that the waiver set forth in this Section 11.03 is knowingly made incontemplation of such benefits.
- Lender’s entitlement to a continued exemption from or reduction in UnitedStates withholding tax if such Non-U.S.
- Upon any such failure by a Revolving Loan Lender to pay the AdministrativeAgent, the Administrative Agent shall promptly thereafter notify the Administrative Borrower of such failure and the Borrowers shall immediately pay such corresponding amount to the Administrative Agent for its own account.
- Specify the repayment terms, including the amount of the monthly payments, the due date of the payments, and any applicable interest rates or late fees.
- (c) The indemnification for all of the foregoing losses, damages, fees, costs and expenses of the Indemnitees, respectively arechargeable against the Loan Account.
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This document contains the terms of the agreement, including what a business will provide to its customers and how much the customers will pay for the goods or services. Specify the repayment terms, including the amount of the monthly payments, the due date of the payments, and any applicable interest rates or late fees. Each Lender that is subject to the requirements of theUSA PATRIOT Act hereby notifies the Borrowers that pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies the entities composing the Borrowers, which information includes the nameand address of each such entity and other information that will allow such Lender to identify the entities composing the Borrowers in accordance with the USA PATRIOT Act. Each Loan Party agrees to take such action and mercatox review execute, acknowledge anddeliver at its sole cost and expense, such instruments and documents as any Lender may reasonably require from time to time in order to enable such Lender to comply with the USA PATRIOT Act. (g) In the event that any Lender sells participations in a Registered Loan, such Lender shall, acting for this purpose as a non-fiduciary agent on behalf of the Borrowers, maintain, or cause to be maintained, a register, on which it enters the name of all participants in the Registered Loans held by it and the principal amount (andstated interest thereon) of the portion of the Registered Loan that is the subject of the participation (the “Participant Register”). A Registered Loan (and the registered note, if any, evidencing the same) may be participated inwhole or in part only by registration of such participation on the Participant Register (and each registered note shall expressly so provide).
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- Annual, monthly, or usage-based, these contracts dictate more than just access; they define utilization costs and strategic technological investments that directly impact the bottom line.
- (a) The outstanding principal of all Revolving Loans made to the Borrowersshall be due and payable on the Final Maturity Date.
- The Liens securing the Hedge Liabilities shall be pari passu with the Liens securing all other Obligations under thisAgreement and the Loan Documents.
- The section contains statements of fact a party makes to disclose material information about the transaction.
- Include a clause stating that the agreement constitutes the entire agreement between the parties and supersedes any prior agreements or understandings.
The solicitors will work to reach an agreement that both parties can accept without going to court. There are several methods couples can use to reach a financial agreement, depending on their relationship dynamics and the complexity of their financial situation. Some couples only begin serious discussions about financial matters once they’ve applied for the conditional order (formerly the decree nisi), which is when the court agrees that the couple can legally divorce. However, it’s important to understand that the financial agreement doesn’t necessarily need to be reached at the start of the divorce process.
“Bank Product Agreements” means those certaincash management service agreements entered into from time to time nfp forex trading between Borrowers, on the one hand, and an Agent or a Lender or its Affiliates, on the other hand, in connection with any of the Bank Products, including, without limitation, anyLender-Provided Hedge Agreement. The lender represents that the loan will have a fixed interest rate for the entire term, and based on this information, Lisa calculates that her business can afford the monthly payments. However, after signing the agreement, Lisa discovers that the interest rate is actually variable and increases significantly after a few months. A well-drafted prenup can plan for and protect against various types of debts, including individual debt such as a spouse’s loans or credit card bills. Prenups can also have stipulations for joint debts such as mortgages or loans incurred as part of a business venture.
Payment Terms:
“Mortgage” means a mortgage, deed of trust or deed to secure debt, in form and substance reasonablysatisfactory to the Collateral Agent, made by a Loan Party in favor of the Collateral Agent for the benefit of the Agents and the Lenders, securing the Obligations and delivered to the Collateral Agent. “Loan Document” means this Agreement, the Security Agreement, any other Security Documents, any Guaranty, any Note, theIntercompany Subordination Agreement, any Joinder Agreement, the Flow of Funds Agreement, any Letter of Credit Application, any Mortgage, the Collateral Assignment, any Bank Product Agreement, and any other agreement, instrument, certificate, reportand other document executed and delivered pursuant hereto or thereto or otherwise evidencing or securing any Loan, any Letter of Credit Obligation or any other Obligation; provided, however, that for purposes of Section 9.1 hereof, no InterestRate Hedging Agreement or other Bank Product Agreement shall constitute a Loan Document. “LIBOR Rate Loan” means each portion of a Loan that bearsinterest at a rate determined by reference to the LIBOR Rate. “Letter of Credit Fees” has the meaning specified therefor in Section 2.06(c). “Letter of Credit Borrowing” has the meaning specified therefor in Section 3.04.
To equal the amount reasonably determined by such Agent or such Lender to be the excess, if any, of (i) the amount of interest that would have accrued on the principal amount of such LIBORRate alpari forex broker review Loan excluding any loss of margin above the LIBOR Rate had such event not occurred, at the LIBOR Rate that would have been applicable thereto, for the period from the date of such event to the last day of the then current Interest Periodtherefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period therefor), minus (ii) the amount of interest that would accrue on such principal amount for suchperiod at the interest rate which such Agent or such Lender would be offered were it to be offered, at the commencement of such period, Dollar deposits of a comparable amount and period in the London interbank market. A certificate of an Agent or aLender delivered to the Administrative Borrower setting forth a calculation in reasonable detail any amount or amounts that such Agent or such Lender is entitled to receive pursuant to this 2.08 shall be conclusive absent manifest error. Subject to Section 2.05(c)(viii) below, not later than one (1) Business Dayfollowing any Disposition by any Loan Party pursuant to Sections 7.02(c)(ii)(B) and 7.02(c)(ii)(C), the Borrowers shall prepay the outstanding principal amount of the Obligations in accordance with clause (d) below in an amount equal to 100% ofthe Net Cash Proceeds received by such Person in connection with such Disposition to the extent that the aggregate amount of Net Cash Proceeds received by the Loan Parties (and not paid to the Administrative Agent as a prepayment of the applicableLoans) shall exceed for all such Dispositions, $500,000 in any Fiscal Year. Nothing contained in this Section 2.05(c)(v) shall permit any Loan Party or any of its Subsidiaries to make a Disposition of any property other than in accordance withSection 7.02(c)(ii). Unless otherwise indicated herein, all references to time of day refer to Eastern StandardTime or Eastern daylight saving time, as in effect in New York City on such day.
In cases where the divorce is amicable, couples may be able to reach an agreement on their own by directly negotiating terms. This can be done through informal discussions or with the help of online tools that guide them through the financial settlement process. Ideally, a financial agreement should be reached as early as possible during the divorce process, preferably before the final order (formerly called the decree absolute) is granted. This ensures that the financial settlement is legally binding before the divorce is finalised. Using our online consent order service for £399 is an efficient and cost-effective way to ensure your consent order is drafted by a qualified solicitor.
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The lending party relies on these representations and warranties in giving the loan under the negotiated terms. A financing agreement is a contract between your company and another party that outlines the terms of a loan or other financial transaction. They are often used when you borrow money or finance the purchase of equipment or other items. Financing agreements are used to obtain funds to achieve the goals of a business plan. Use this financial agreement template to create a legally binding contract that outlines the terms and conditions of a financial arrangement between two or more parties.
“Security Agreement” means a Pledge and Security Agreement, in form and substance satisfactory to the Collateral Agent, madeby the Loan Parties in favor of the Collateral Agent for the benefit of the Secured Parties securing the Obligations, as amended, amended and restated, supplemented or otherwise modified from time to time. “Royalty Reserves”means reserves established by the Administrative Agent in its good faith exercise of its Permitted Discretion against royalty payments due and payable by the Borrowers, it being understood that any such Royalty Reserves shall be limited to (1) 25%in respect of the first $12,500,000 of accrued royalties attributable to Eligible Inventory and (2) 100% in respect of accrued royalties in excess of $12,500,000 attributable to Eligible Inventory. (i) such other agreements, instruments and other documents (including guarantees and opinions of counsel) as the Collateral Agent mayreasonably require. “Perfection Certificate” means a certificate in form and substance reasonably satisfactory to the Collateral Agent providinginformation with respect to the property of each Loan Party. “Management Agreement” means the professional services agreement dated as of the date hereof by andamong ACON Equity Management, L.L.C., a Delaware limited liability company, and Funko, LLC, a Washington limited liability company.
It is important to note that both signatures must be witnessed—typically by a solicitor, but in some cases, a third party can act as a witness. Form A can be submitted alongside your divorce application or after you have received the conditional order (formerly called the decree nisi) but before the final order (decree absolute). Stay in the loop with the latest family law insights, case studies, and expert advice by subscribing to our newsletter. Boasting over 20+ years of expertise, we dedicate ourselves to advocating for your rights and navigating you through legal complexities. They outline how assets and liabilities will be divided after a divorce or separation.
“Term Loan Commitment” means, with respect to each Lender, the commitment ofsuch Lender to make the Term Loan to the Borrowers in the amount set forth in Schedule 1.01(A) hereto, as the same may be terminated or reduced from time to time in accordance with the terms of this Agreement. “Revolving Loan Obligations” means any Obligations with respect to the Revolving Loans (including without limitation, theprincipal thereof, the interest thereon, and the fees and expenses specifically related thereto). “Qualified ECP Loan Party” means each Borrower or Guarantor that on the Eligibility Date is (a) acorporation, partnership, proprietorship, organization, trust, or other entity other than a “commodity pool” as defined in Section 1a(10) of the CEA and CFTC regulations thereunder that has total assets exceeding $10,000,000 or (b) anEligible Contract Participant that can cause another Person to qualify as an Eligible Contract Participant on the Eligibility Date under Section 1a(18)(A)(v)(II) of the CEA by entering into or otherwise providing a “letter of credit orkeepwell, support, or other agreement” for purposes of Section 1a(18)(A)(v)(II) of the CEA. “Post-Default Rate” means a rate of interest per annum equal to the rate of interest otherwise in effect from time to timepursuant to the terms of this Agreement plus 2.00%, or, if a rate of interest is not otherwise in effect, interest at the highest rate specified herein for any Loan then outstanding prior to an Event of Default plus 2.00%. “Maximum Face Amount” means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Creditincluding all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective, as such face amount or increases are amended from time to time.
Additionally, the transaction provides Lincoln with the financial flexibility to accelerate its goal of reducing its leverage ratio towards its 25% target. The parties have signed a definitive agreement for the sale of a 9.9% equity stake on a post-issuance basis in Lincoln National Corporation (LNC) for $825 million in an all-cash transaction. LNC will sell approximately 18.8 million shares of its common stock for $44.00 per share, based on a 25% premium to the 30-day volume-weighted average price as of April 8, 2025. Under the terms of the agreement, Bain Capital has agreed to certain limitations and restrictions on its ability to divest its ownership stake. The court may terminate a financial agreement based on duress if the outcome of the behaviour meets the technical requirements of those particular legal remedies.
Whether or not a successor Agent has been appointed, such resignation shall becomeeffective in accordance with such notice on the Resignation Effective Date. (b) Notwithstanding anything in this Agreement or any other Loan Document tothe contrary, each of the Borrowers hereby accepts joint and several liability hereunder and under the other Loan Documents for the Obligations in consideration of the financial accommodations to be provided by the Agents and the Lenders under thisAgreement and the other Loan Documents, for the mutual benefit, directly and indirectly, of each of the Borrowers and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations. Each of theBorrowers, jointly and severally, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to thepayment and performance of all of the Obligations (including, without limitation, any Obligations arising under this Section 4.05), it being the intention of the parties hereto that all of the Obligations shall be the joint and severalobligations of each of the Borrowers without preferences or distinction among them. If and to the extent that any of the Borrowers shall fail to make any payment with respect to any of the Obligations as and when due or to perform any of theObligations in accordance with the terms thereof, then in each such event, the other Borrowers will make such payment with respect to, or perform, such Obligation. L/C Issuer, and such other certificates, documents and other papers and information as the L/C Issuer may reasonably request. The Administrative Borrower, also has the right to give instructionsand make agreements with the L/C Issuer with respect to any application, any applicable letter of credit and related security agreement, any applicable letter of credit reimbursement agreement and/or any other applicable agreement, and thedisposition of applicable documents, and to agree with the L/C Issuer upon any amendment, extension or renewal of any Letter of Credit.
By pressing ‘Submit,’ you agree to be contacted by our team regarding your request, as detailed in our Privacy Notice. Submit your details and we’ll arrange a free, no-obligation call back at a time that suits you. This service is ideal for couples who have relatively simple financial arrangements, such as the division of the family home, savings, and debts. More importantly, they will ensure that the agreement meets legal standards and can be turned into a consent order, which is the only way to make it enforceable. Using a solicitor is safer and is recommended for most couples, especially when asset division and maintenance are part of your financial arrangements. The judge will look at the financial disclosure provided by each party to confirm that both are adequately provided for.