Loan Note (with interest) - Company limited by guarantee (club/charity) or CIO (charity)
This Loan Note (with interest) - Company limited by guarantee (club/charity) or CIO (charity) is suitable for borrowing on an ordinary commercial basis where interest on the loan is to be payable and there will be a substantial number of lenders (e.g. the membership or supporter base of a charity or club).
The execution provisions of this template are compliant and consistent with the requirements of the Land Registry for prescribed form deeds introduced from 20th September 2019.
This template can be used by:
• a charity borrowing from any of its board of trustees/directors;
• a club borrowing from any of its directors; or
• a charity or a club borrowing from any members or supporters, private individuals, banks or other organisations.
This template can only be used by a charity or club which is a corporate body. If a charity or club which is an unincorporated association wishes to raise finance, it should use one of the forms of Promissory Note for an unincorporated association included in this Subfolder. The loan note is a deed poll and therefore is only required to be executed by the company limited by guarantee or CIO issuing the note.
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