Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Loan definition

What does Loan mean? In legal practice, a loan is an advance of money by a lender to a borrower with a binding obligation to repay the principal sum, usually with interest, either on demand or at agreed dates during a term. Loans may be secured or unsecured and may be documented as a loan or facility agreement, promissory note or deed. Repayment may be amortising or bullet. Interest and fees (for example, arrangement, commitment or default interest) are commonly payable but are not essential to a loan’s validity. The term is a descriptive expression used across commercial, consumer and corporate finance; specific statutes...

Precedent Deed of Limited‑Recourse Loan (Interest‑Free Unless Varied) to EBT Trustee for Share Acquisitions under Employees’ Share Schemes (England and Wales)

Published by a LexisNexis Share Incentives expert

Precedents

This Deed is dated [ insert date ]

Parties

[ insert full name of Trustee ] incorporated and registered in [ insert place of incorporation of the Trustee ] with company number [ insert registered number ] whose registered office is at [ insert address of registered office ] as sole trustee of the [ insert name of the EBT ] Employee Benefit Trust (the Trustee ).
[ Insert full name of company ] incorporated and registered in England and Wales under company number [ insert registered number ] whose registered office is at [ insert registered office address ] (the Lender ).

Background

(A) By a trust deed dated [ insert date of EBT trust deed ] (the Trust Deed), the Lender created the [ insert name of EBT ] Employee Benefit Trust (the EBT ).

(B) The Lender is prepared to lend monies to the Trustee, in its capacity as trustee of the EBT, on the following terms.

1 Definitions and interpretation

1.1 The definitions and rules of interpretation set out below apply to this Agreement...

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Jeremy Glover (Share Schemes)

Jeremy is a senior incentives lawyer who has over 18 years' experience advising businesses on their employee and executive incentives and share plans. Jeremy's practice focuses on the field of remuneration, executive pay, employee share plans and management buyouts. Jeremy advises a broad range of clients including multinationals, quoted companies, privately owned companies (family, owner-managed businesses, venture capital backed and private equity backed). He also provides specialist expert advice to other professional advisers such as accountants, tax advisers and remuneration consultants for their clients. Jeremy has worked in private practice and in-house and enjoys advising clients using the benefit of both perspectives. Jeremy used to head up the incentives practices at Reed Smith LLP, Stephenson Harwood LLP and the Entrepreneurial Group at EY in London. Jeremy is now a senior consultant to a number of law and accounting firms including Reed Smith LLP, PWT Advice LLP and...

Web page updated on 22/05/2026

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