Assignment of Rents Agreement | Canada
Secure the repayment of a mortgage loan by having the borrower execute this Assignment of Rents Agreement for Canadian lenders.
- The borrower assigns to the lender all rent revenues from tenants in the property being mortgaged.
- The assignment is given as security for repayment of the mortgage and performance of the borrower's obligations to the lender.
- The rentals continue to be paid to the borrower / assignor until such time as the lender / assignee gives a demand in writing to the tenants to pay the rents to the assignee.
- The agreement stays in effective until all of the monies due under the mortgage have been paid in full.
- An Assignment of Rents Agreement is a good means of obtaining additional security for performance under a loan agreement. You can download it immediately following purchase.
- This form is governed by the laws of Canada.
Ontario Loan Agreement for Non-Revolving Bridge Financing
Prepare a Loan Agreement for a non-revolving loan for bridge financing with this downloadable template for Ontario.
- This type of loan agreement is typically used for construction projects.
- Advances will be made as and when needed, up to a maximum amount.
- Interest will be calculated daily based on the principal balance outstanding, not compounded.
- Principal may be repaid at any time with no prepayment penalty.
- All outstanding principal and interest becomes due upon completion of the project.
- This legal contract template is available as a downloadable and fully editable MS Word template.
- Intended for use only in the Province of Ontario, Canada.
Priorities Agreement Between Two Lenders
Prepare a Priorities Agreement between a debtor and two lenders with this ready-made template.
- The lenders are both secured parties under loan agreements or credit arrangements with the debtor. The Agreement sets out the priority of the lenders' security positions.
- Each of the lenders agrees that its security will rank equally in priority, notwithstanding the date of execution or registration, or other factors.
- Any default by the debtor will be deemed to be a default under security held by each of the lenders.
- This is a generic legal contract which does not specifically reference the laws of any country, state or province.
- The Priorities Agreement Between Two Lenders is in MS Word format and is easy to download and use.
Loan Security Forms Package | Canada
Are you loaning money or extending credit facilities to a customer or other party? Document your security interest as a creditor with this Loan Security Forms Package for Canadian lenders.
- The package contains the following forms:
- General Security Agreement,
- Unconditional Guarantee and Postponement of Claim,
- Promissory Note to be executed by the borrower.
- Available in MS Word format.
- Intended to be used only in Canada.
Directors Resolution to Change Registered Office | Canada
The directors of a Canadian corporation can change its registered office by passing this Directors Resolution.
- The corporation's Board of Directors resolves to change the registered office from its current location to a new location.
- The corporate secretary is authorized to file the appropriate form of Notice with the applicable registry.
- The template can be used by any Canadian corporation formed under a Business Corporations Act, either federally or provincially. English version not valid in Quebec.
- Available as a fully editable download in MS Word format.
- Intended to be used only within Canada.
Ontario General Security Agreement
Ontario lenders, prepare a General Security Agreement with this comprehensive template form.
- The borrower grants the lender a security interest in all of the borrower's present and future personal property including inventory, equipment, accounts and book debts, and all proceeds therefrom.
- The interest is being granted to the lender as security for loan financing, operating lines, or other credit facilities advanced by the lender to the borrower.
- The Security Agreement is governed by the Ontario Personal Property Security Act.
- This document is available as a fully editable MS Word template form.
Promissory Note with Monthly Payments, Compound Interest | Canada
Overview of Promissory Note with Monthly Payments and Compound Interest
Monthly Payment Structure
The Promissory Note sets up a schedule of regular monthly payments for the borrower. These payments consist of both principal and interest amounts, which are to be repaid in equal installments each month throughout the loan term.
Calculation and Compounding of Interest
Interest on the outstanding loan balance is calculated and compounded on a monthly basis. This means that interest accrues on both the principal and any previously accumulated interest, resulting in a compounding effect over time.
Late Payment Provisions
If any portion of the principal or interest is not paid by the due date, the overdue amount will continue to bear interest at the same rate as the remaining loan balance. This ensures that late payments are subject to the same terms as regular payments.
Jurisdiction and Use
This Promissory Note template is suitable for use throughout Canada, with the possible exception of Quebec where a different French-language form may be required. The form is available as a downloadable, editable, and reusable legal template to accommodate various lending arrangements.
Term Promissory Note | Canada
Overview of Canadian Term Promissory Note Template
This Term Promissory Note template is designed specifically for use within Canada. It provides a secure method for documenting the repayment of a loan and is suitable for individuals or businesses seeking a straightforward solution for loan agreements.
Repayment Structure
The Note permits the borrower to repay the loan amount through regular payments. Each payment consists of a blended portion of principal and interest, ensuring a consistent payment schedule throughout the loan period.
Interest Calculation
Interest on the outstanding loan balance is calculated monthly, and the total interest is compounded annually. This approach offers clarity in how interest accrues over the duration of the loan.
Format and Reusability
This template is a reusable legal form available in Microsoft Word format, allowing for easy editing and customization to meet specific needs. Once purchased, it can be downloaded and utilised as often as required, making it a convenient option for ongoing or future loan agreements.
Jurisdiction
This template is intended for use only in Canada and should not be used for loans outside Canadian jurisdiction.
