The Loan Agreement Between Parent Company And Subsidiary is a crucial document used when a parent company provides financing to its subsidiary in Canada. This agreement is essential for documenting intra-group lending arrangements while ensuring compliance with Canadian corporate law, tax regulations, and transfer pricing rules. It's particularly important for establishing clear terms of lending, maintaining proper corporate governance, and creating a legally enforceable obligation between related entities. The agreement must address specific Canadian regulatory requirements, including those under the Canada Business Corporations Act and relevant provincial legislation. It typically includes detailed provisions for loan amount, interest calculation (considering arm's length principles), repayment terms, security arrangements (if any), and default provisions, while acknowledging the special relationship between the parties. This document is fundamental for corporate groups managing internal financing structures and must be carefully drafted to withstand regulatory scrutiny.
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1. Parties: Identification of the parent company (as lender) and subsidiary (as borrower), including registration details and addresses
2. Background: Context of the loan arrangement, relationship between parties, and purpose of the loan
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Amount and Purpose: Specification of the loan amount and detailed description of its intended use
5. Interest Rate and Calculation: Interest rate specification, calculation method, and payment frequency, ensuring compliance with transfer pricing rules
6. Repayment Terms: Schedule and method of repayment, including any prepayment provisions
7. Conditions Precedent: Conditions that must be satisfied before the loan becomes effective
8. Representations and Warranties: Standard representations from both parties, including corporate authority and regulatory compliance
9. Covenants: Ongoing obligations of the borrower, including financial covenants and reporting requirements
10. Events of Default: Circumstances constituting default and consequences thereof
11. Related Party Provisions: Specific provisions addressing the parent-subsidiary relationship and corporate governance requirements
12. Notices: Communication protocols between parties
13. Governing Law and Jurisdiction: Specification of Canadian law as governing law and jurisdiction for disputes
14. Execution: Signature blocks and execution requirements
1. Security: Details of any security or collateral for the loan, used when the loan is secured
2. Subordination: Required when the loan needs to be subordinated to other debt obligations
3. Tax Provisions: Detailed tax implications and requirements, especially relevant for cross-province or international parent-subsidiary relationships
4. Currency Provisions: Required when loan and repayments are in different currencies
5. Assignment and Transfer: Include when either party may need to transfer rights or obligations
6. Regulatory Compliance: Additional compliance requirements for regulated industries
7. Change of Control: Provisions dealing with changes in subsidiary ownership or control
8. Inter-creditor Provisions: Required when there are multiple lenders or complex debt structures
1. Repayment Schedule: Detailed schedule of repayment dates and amounts
2. Interest Calculation Examples: Examples showing interest calculation methodology
3. Corporate Authorizations: Copies of board resolutions and other corporate approvals
4. Security Details: If applicable, detailed description of security or collateral
5. Existing Indebtedness: Schedule of borrower's existing debt obligations
6. Financial Covenants Calculations: Formulas and examples for financial covenant calculations
7. Transfer Pricing Documentation: Documentation supporting the arm's length nature of the loan terms
8. Form of Compliance Certificate: Template for periodic compliance reporting
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Manufacturing
Technology
Real Estate
Retail
Energy
Mining
Healthcare
Transportation
Telecommunications
Professional Services
Construction
Agriculture
Hospitality
Relevant Teams
Legal
Finance
Treasury
Tax
Compliance
Risk Management
Corporate Governance
Accounting
Corporate Development
Executive Leadership
Company Secretariat
Internal Audit
Relevant Roles
Chief Financial Officer
Finance Director
Corporate Treasurer
Legal Counsel
Corporate Secretary
Tax Director
Financial Controller
Compliance Officer
Risk Manager
Corporate Finance Manager
Treasury Analyst
Legal Director
Company Secretary
Board Director
Chief Executive Officer
Financial Planning Manager
Accounting Manager
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