This is a fixed drawdown schedule. It is designed to be inserted at the end of a loan agreement.
Where a loan agreement provides the borrower with the ability to drawdown the loan amount progressively over time, the parties can agree that the borrower either:
- draws down the loan amount by way of fixed instalments on agreed dates, called fixed drawdown; or
- draws down the loan amount flexibly as and when the borrower requires, up to a maximum loan amount within a certain time period.
Where the parties agree to a fixed drawdown process, it is common to include a schedule to the loan agreement setting out the amount of the fixed instalments and dates on which these instalments will be drawn.
This simple precedent schedule provides a framework for a fixed drawdown schedule which would be customised by the drafter based on the fixed drawdown process agreed between borrower and lender.
- Basic loan agreement
- Guarantee of payment of loan
- General security deed
- Amendment and restatement agreement
- Real property mortgage
- Deed of priority
- Forbearance of debt agreement
- Deed of assignment of debt
- Loan agreement checklist
This document has been authored for Lexis Nexis by Elise Margow, Principal, Legally Speaking.
This document is prepared with the assistance of Specialist Editors Geoff Geha, Partner, Clayton Utz and Karen Lee, Principal and Consultant, Legal Know-How.