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The Partnership Loan Agreement is essential for Irish partnerships seeking to formalize internal lending arrangements between partners or external funding structures. This document is particularly relevant when partners need to inject additional capital into the business, restructure existing partnership finances, or facilitate partner buy-ins. It ensures compliance with Irish partnership law, financial regulations, and tax requirements while providing a clear framework for the loan terms, repayment obligations, and security arrangements. The agreement addresses specific partnership considerations such as changes in partnership composition, impact on profit sharing, and interaction with partnership agreements. It's designed to protect both lenders' and borrowers' interests while maintaining the partnership's operational integrity under Irish jurisdiction.

1. Parties: Identifies the lending partner(s) and borrowing partner(s), including their full legal names and addresses

2. Background: Sets out the context of the loan, including the partnership structure and purpose of the loan

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules

4. The Loan: Details the loan amount, purpose, and drawdown conditions

5. Interest: Specifies interest rate, calculation method, and payment terms

6. Repayment: Sets out the repayment schedule, prepayment terms, and mandatory prepayment events

7. Representations and Warranties: Contains statements of fact and assurances from the borrowing partner(s)

8. Covenants: Details ongoing obligations of the borrowing partner(s), including financial covenants and information requirements

9. Events of Default: Lists circumstances that constitute default and their consequences

10. Partnership Provisions: Addresses specific partnership-related matters such as changes in partnership composition

11. Payments and Calculations: Details payment mechanics, currency provisions, and calculation conventions

12. Changes to Parties: Procedures for transfers, assignments, or changes in partnership structure

13. Notices: Specifies how formal communications between parties should be made

14. General Provisions: Contains boilerplate clauses including severability, entire agreement, and governing law

15. Execution: Signature blocks and execution formalities