The Business Loan Guarantee agreement is essential in Danish commercial lending transactions where additional security is required for a loan facility. This document is typically used when a lender requires extra assurance beyond the borrower's own creditworthiness, often in situations involving business expansion, real estate acquisition, or working capital facilities. The guarantee agreement must comply with Danish law requirements, including the Danish Contracts Act (Aftaleloven) and Financial Business Act (Lov om finansiel virksomhed). It establishes the guarantor's obligations, limitations of liability, enforcement procedures, and includes specific provisions required under Danish financial regulations. The document is crucial for risk mitigation in commercial lending and needs to address both the lender's security requirements and the guarantor's rights under Danish law.
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Key Requirements PROMPT example:
Business Loan Guarantee
I need a Business Loan Guarantee agreement under Danish law for a 鈧5 million corporate loan where our parent company in Copenhagen will act as guarantor for our German subsidiary, with special attention to cross-border enforcement provisions.
1. Parties: Identification of the Guarantor, the Lender (Beneficiary), and the Borrower
2. Background: Context of the guarantee, including reference to the underlying loan agreement and the business relationship between the parties
3. Definitions: Definitions of key terms used throughout the agreement, including 'Guaranteed Obligations', 'Event of Default', and other relevant terms
4. Guarantee and Indemnity: Core provisions detailing the guarantee obligations, including the scope and nature of the guarantee (whether continuing, unconditional, irrevocable)
5. Extent of Liability: Specification of the maximum amount guaranteed and any limitations on the guarantor's liability
6. Demands and Payments: Procedures for making demands under the guarantee and requirements for payment
7. Representations and Warranties: Guarantor's confirmations regarding their capacity, authority, and financial condition
8. Continuing Security: Provisions establishing the guarantee as continuing security until full discharge of the guaranteed obligations
9. Enforcement: Rights and remedies of the lender in case of default or non-payment
10. Costs and Expenses: Allocation of costs related to the preparation, maintenance, and enforcement of the guarantee
11. Notices: Communication requirements and contact details for formal notices between parties
12. Governing Law and Jurisdiction: Confirmation of Danish law as governing law and jurisdiction for disputes
1. Security Interest: Additional security provisions if the guarantee is secured by specific assets - include when there is additional collateral
2. Corporate Authorizations: Specific provisions regarding corporate approvals and authorizations - include when the guarantor is a company
3. Financial Covenants: Specific financial maintenance requirements for the guarantor - include for larger or more complex guarantees
4. Tax Gross-up: Provisions for tax implications and gross-up requirements - include when tax deductions may apply to payments
5. Currency Provisions: Provisions dealing with multiple currencies - include when the guarantee involves cross-border elements
6. Change of Control: Provisions addressing changes in ownership of the guarantor - include for corporate guarantors
7. Assignment and Transfer: Provisions regarding the ability to transfer or assign the guarantee - include when transferability is important to the lender
1. Schedule 1 - Underlying Loan Agreement Details: Summary or copy of the key terms of the underlying loan agreement being guaranteed
2. Schedule 2 - Guarantee Limit and Calculation: Detailed breakdown of the guarantee amount and any applicable calculations or adjustments
3. Schedule 3 - Form of Demand: Template for making formal demands under the guarantee
4. Schedule 4 - Corporate Authorizations: Copies of relevant corporate authorizations and powers of attorney
5. Appendix A - Compliance Certificate: Template for periodic confirmation of compliance with guarantee terms
6. Appendix B - Notice Details: Detailed contact information and notice requirements for all parties
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Commercial Lending
Corporate Finance
Real Estate & Property
Manufacturing
Retail
Construction
Technology
Energy
Agriculture
Healthcare
Transportation & Logistics
Professional Services
Relevant Teams
Legal
Finance
Risk Management
Compliance
Treasury
Credit Assessment
Corporate Banking
Business Development
Company Secretariat
Operations
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Lawyer
Risk Manager
Credit Manager
Commercial Banking Manager
Relationship Manager
Compliance Officer
Treasury Manager
Financial Controller
Company Secretary
Business Development Director
Corporate Finance Manager
Managing Director
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