Evidence of debt clause: Copy, customize, and use instantly
Introduction
An evidence of debt clause requires the borrower to provide proof of outstanding debt to the lender. This is typically required in loan agreements or credit facilities and ensures that there is a clear and verifiable record of the borrower's obligation to repay. The clause outlines the documentation and requirements for evidencing the existence of debt, which may include promissory notes, loan agreements, or statements of outstanding amounts.
Below are templates for evidence of debt clauses tailored to different scenarios. Copy, customize, and insert them into your agreement.
Standard evidence of debt clause
This variation applies when standard documentation is required to prove debt.
[Party Name] agrees to provide evidence of its outstanding debt to [Lender Name] upon request. This evidence may include, but is not limited to, a promissory note, loan agreement, or a statement detailing the amount owed, the interest rate, and the payment terms. The borrower shall provide this evidence within [X] days of receiving the request.
Evidence of debt with periodic statements clause
This variation applies when periodic statements of debt are required.
[Party Name] agrees to provide periodic statements of debt, detailing the outstanding balance, interest accrued, and any payments made, on a [monthly/quarterly] basis. These statements shall be delivered to [Lender Name] no later than [X] days after the end of each reporting period.
Evidence of debt with certification clause
This variation applies when the debt must be certified by an authorized representative.
[Party Name] agrees to provide evidence of its debt by submitting a certification signed by an authorized representative of [Party Name]. The certification will include the total amount of debt, the interest rate, and any adjustments made to the debt since the last certification. This certification will be submitted to [Lender Name] annually or upon request.
Evidence of debt with third-party verification clause
This variation applies when third-party verification of debt is required.
[Party Name] agrees to obtain third-party verification of its outstanding debt from a certified public accountant or other qualified professional. The verification must confirm the total debt amount, interest, and repayment schedule and must be provided to [Lender Name] upon request, or no later than [X] days after the request is made.
Evidence of debt with security interest clause
This variation applies when the debt is secured by collateral.
[Party Name] agrees to provide evidence of debt secured by collateral in the form of a secured loan agreement or other documentation proving the pledge of assets as security for the debt. This evidence shall include a description of the collateral, the loan amount, and the terms of the security interest, and shall be provided to [Lender Name] upon request.
Evidence of debt with loan agreement clause
This variation applies when a formal loan agreement is required as evidence.
[Party Name] agrees to provide a signed copy of the loan agreement as evidence of the debt owed to [Lender Name]. The loan agreement will detail the principal amount, interest rate, repayment schedule, and any other terms associated with the loan. A copy of this agreement will be submitted to [Lender Name] within [X] days of its execution.
Evidence of debt with payment history clause
This variation applies when a payment history is required as evidence.
[Party Name] agrees to provide a detailed payment history as evidence of its debt. The payment history will include all payments made towards the debt, the outstanding balance, and any changes in the debt amount. This history will be submitted to [Lender Name] upon request or at regular intervals as agreed in the loan terms.
Evidence of debt with formal notice clause
This variation applies when formal written notice of debt is required.
[Party Name] agrees to provide formal written notice of any outstanding debt, including the total amount owed, any interest accrued, and the payment terms, to [Lender Name] on an annual basis. This notice must be signed by an authorized officer of [Party Name] and submitted no later than [X] days before the annual deadline.
Evidence of debt with electronic records clause
This variation applies when electronic records of debt are acceptable.
[Party Name] agrees to provide evidence of debt in electronic format, including a digital copy of the loan agreement, payment statements, and any other documents related to the debt. These records will be delivered to [Lender Name] via email or other secure digital means within [X] days of the request.
Evidence of debt with debt restructuring agreement clause
This variation applies when evidence of debt restructuring is required.
[Party Name] agrees to provide evidence of any debt restructuring agreements entered into, including amendments to the original loan agreement, new repayment terms, or changes in interest rates. This evidence will be provided to [Lender Name] within [X] days of the execution of the restructuring agreement.
Evidence of debt with interest calculation clause
This variation applies when interest calculation details are included in the evidence.
[Party Name] agrees to provide detailed evidence of debt, including a breakdown of the principal amount, accrued interest, and the method of interest calculation. The evidence shall be submitted to [Lender Name] upon request and will include an explanation of how the interest was computed and any changes to the rate over time.
Evidence of debt with cross-default clause
This variation applies when evidence of debt is linked to a cross-default provision.
[Party Name] agrees to provide evidence of any outstanding debt that may trigger a cross-default event under other agreements. This evidence will include the total amount of debt, the payment terms, and the name of the lender or creditor. [Party Name] will provide this evidence to [Lender Name] immediately upon any cross-default event.
Evidence of debt with payment adjustment clause
This variation applies when debt adjustments are required due to payments.
[Party Name] agrees to provide evidence of any adjustments made to the outstanding debt based on payments, such as partial payments, early repayments, or missed payments. This evidence will include the updated debt balance and the impact of any changes to the payment schedule.
Evidence of debt with original loan documentation clause
This variation applies when original loan documentation is required.
[Party Name] agrees to provide the original loan documentation, including the promissory note or loan agreement, as evidence of debt. If the original documents are lost or unavailable, [Party Name] will provide a certified copy and any supporting documents that verify the debt.
Evidence of debt with creditor confirmation clause
This variation applies when creditor confirmation of the debt is required.
[Party Name] agrees to obtain and provide confirmation from the creditor regarding the outstanding debt, including the amount owed, interest rate, and repayment terms. This confirmation must be signed by an authorized representative of the creditor and submitted to [Lender Name] upon request.
Evidence of debt with debt consolidation clause
This variation applies when debt consolidation is involved.
[Party Name] agrees to provide evidence of any debt consolidation, including a copy of the consolidation agreement, the total consolidated debt, and the new repayment terms. This evidence will be provided to [Lender Name] upon request or within [X] days after the consolidation is completed.
Evidence of debt with interest-only payments clause
This variation applies when the debt involves interest-only payments.
[Party Name] agrees to provide evidence of debt if the agreement includes an interest-only payment structure. This evidence will include a statement of the interest-only payments made, the outstanding principal amount, and the agreed-upon interest rate. [Party Name] will submit this evidence to [Lender Name] upon request.
Evidence of debt with subordinated debt clause
This variation applies when the debt includes subordinated debt.
[Party Name] agrees to provide evidence of any subordinated debt incurred, including the terms of the subordinated loan, the interest rate, and the repayment schedule. This evidence will be submitted to [Lender Name] to ensure that the subordinated debt does not exceed the agreed-upon limits.
Evidence of debt with unpaid debt clause
This variation applies when the debt is unpaid.
[Party Name] agrees to provide evidence of any unpaid debt, including the original loan amount, the outstanding balance, and the due date for payment. The evidence will include a statement of unpaid interest and principal, and will be submitted to [Lender Name] upon request.
Evidence of debt with debt servicing ratio clause
This variation applies when the debt servicing ratio is considered in the evidence.
[Party Name] agrees to provide evidence of debt along with the debt servicing ratio, calculated as total debt divided by operational cash flow. This ratio will be used to assess the borrower's ability to service the debt. Evidence will be submitted to [Lender Name] on a quarterly basis.
Evidence of debt with new loan obligation clause
This variation applies when a new loan obligation requires evidence of debt.
[Party Name] agrees to provide evidence of any new loan obligations, including the terms of the new loan agreement, the interest rate, and the repayment schedule. The evidence will be submitted to [Lender Name] to ensure the new loan does not violate existing debt covenants.
Evidence of debt with creditor payment acknowledgment clause
This variation applies when creditor acknowledgment of debt payments is required.
[Party Name] agrees to provide evidence of payments made toward its outstanding debt, including documentation from the creditor acknowledging each payment. This documentation will be submitted to [Lender Name] to confirm the current status of the debt and any remaining balance.
Evidence of debt with liability confirmation clause
This variation applies when confirmation of liability is required.
[Party Name] agrees to provide written confirmation of its outstanding debt liability, including a detailed breakdown of principal, interest, and any other obligations. This confirmation will be signed by an authorized representative of [Party Name] and will be submitted to [Lender Name] upon request.
Evidence of debt with secured loan documentation clause
This variation applies when the debt is secured by specific collateral.
[Party Name] agrees to provide evidence of any debt secured by collateral, including the original secured loan agreement, a description of the collateral, and the terms of the security interest. This evidence will be provided to [Lender Name] upon request.
Evidence of debt with principal and interest breakdown clause
This variation applies when the breakdown of principal and interest is required.
[Party Name] agrees to provide a detailed breakdown of the outstanding debt, including the principal amount owed and the interest accrued. The evidence will show the repayment schedule, highlighting both principal and interest components, and will be submitted to [Lender Name] upon request.
Evidence of debt with payment deferment clause
This variation applies when the debt includes a payment deferment.
[Party Name] agrees to provide evidence of any deferred payments related to its debt. This evidence will include documentation outlining the agreed-upon deferment terms, including the new payment schedule and any changes to interest rates, and will be submitted to [Lender Name] for review.
Evidence of debt with debt reconciliation clause
This variation applies when debt reconciliation is required.
[Party Name] agrees to provide a debt reconciliation statement that summarizes any discrepancies between the reported debt and actual amounts owed. This statement will include all adjustments made to the debt, such as changes to interest rates or principal, and will be submitted to [Lender Name] upon request.
Evidence of debt with lien documentation clause
This variation applies when a lien is placed on the debt.
[Party Name] agrees to provide evidence of any liens placed on its assets as part of its debt obligation. The documentation will include a lien certificate, details of the secured assets, and the terms of the lien, which will be submitted to [Lender Name] upon request.
Evidence of debt with interest rate confirmation clause
This variation applies when confirmation of the interest rate is required.
[Party Name] agrees to provide evidence of the interest rate applicable to its debt, including any changes in the rate during the term of the loan. This evidence will be submitted to [Lender Name] and will include a breakdown of interest calculations over time.
Evidence of debt with loan guarantee clause
This variation applies when a loan guarantee is required.
[Party Name] agrees to provide evidence of any guarantees related to its debt, including the terms of the guarantee, the guarantor's obligations, and any relevant documentation. This evidence will be provided to [Lender Name] to confirm the legitimacy of the guarantee.
Evidence of debt with bankruptcy filings clause
This variation applies when bankruptcy filings are involved.
[Party Name] agrees to provide evidence of any bankruptcy filings related to its debt obligations, including court documents, creditor notices, and discharge orders. This evidence will be submitted to [Lender Name] to confirm the status of the debt in the event of bankruptcy.
Evidence of debt with restructured payment terms clause
This variation applies when the payment terms for the debt have been restructured.
[Party Name] agrees to provide evidence of any restructured payment terms for its debt, including the updated repayment schedule, interest rates, and any other modifications to the original agreement. This evidence will be provided to [Lender Name] for review.
Evidence of debt with default notice clause
This variation applies when a notice of default is required.
[Party Name] agrees to provide evidence of any default notices received from creditors regarding the outstanding debt. This evidence will include copies of the default notice, any associated correspondence, and a description of the actions taken to remedy the default.
Evidence of debt with debt covenant compliance clause
This variation applies when compliance with debt covenants is required.
[Party Name] agrees to provide evidence of its compliance with any debt covenants, including financial ratios, leverage limits, and other covenants set forth in the loan agreement. Evidence of compliance will be submitted to [Lender Name] on a quarterly basis.
Evidence of debt with debt forgiveness clause
This variation applies when debt forgiveness is granted.
[Party Name] agrees to provide evidence of any debt forgiveness agreements, including the terms under which the debt was forgiven and any impact on the overall debt balance. This evidence will be submitted to [Lender Name] for confirmation.
Evidence of debt with subordinate debt confirmation clause
This variation applies when subordinate debt is part of the agreement.
[Party Name] agrees to provide evidence of any subordinate debt obligations, including the terms of the subordination agreement, the amounts involved, and the repayment schedule. This evidence will be provided to [Lender Name] to ensure the subordination is correctly documented.
Evidence of debt with payment waiver clause
This variation applies when payment waivers are involved.
[Party Name] agrees to provide evidence of any waivers of payments related to its debt obligations. This includes waiver agreements, details of waived payments, and any changes to the original debt terms. The evidence will be submitted to [Lender Name] for review.
Evidence of debt with debt-to-equity conversion clause
This variation applies when debt is converted to equity.
[Party Name] agrees to provide evidence of any debt-to-equity conversions, including the amount of debt converted, the share allocation, and the terms of the conversion. This evidence will be submitted to [Lender Name] to confirm the conversion process and its impact on the debt balance.
Evidence of debt with tax treatment clause
This variation applies when the tax treatment of the debt needs to be clarified.
[Party Name] agrees to provide evidence of the tax treatment related to its debt, including any deductions, credits, or exemptions that apply to the debt. This evidence will be submitted to [Lender Name] for review to ensure compliance with tax laws.
Evidence of debt with payment deferral confirmation clause
This variation applies when payment deferrals are part of the debt agreement.
[Party Name] agrees to provide evidence of any payment deferrals granted by creditors, including the terms of the deferral, the duration, and any adjustments to interest rates. This evidence will be submitted to [Lender Name] to confirm the deferral arrangement.
Evidence of debt with financial statement clause
This variation applies when financial statements are used as evidence.
[Party Name] agrees to provide its most recent financial statements, including the balance sheet, income statement, and cash flow statement, as evidence of its outstanding debt. These statements will include detailed notes on the debt obligations and any changes during the reporting period.
Evidence of debt with conversion option clause
This variation applies when the debt includes a conversion option to equity.
[Party Name] agrees to provide evidence of any conversion options embedded in its debt obligations. This includes details of the conversion rate, the option exercise period, and any other terms that govern the conversion. Evidence will be provided to [Lender Name] for review.
Evidence of debt with interest accrual clause
This variation applies when interest on the debt must be documented.
[Party Name] agrees to provide evidence of the interest accrued on its debt, including the calculation method, the interest rate applied, and the total amount of interest owed. This evidence will be submitted to [Lender Name] along with the principal balance for confirmation.
Evidence of debt with settlement agreement clause
This variation applies when a settlement agreement modifies the debt.
[Party Name] agrees to provide evidence of any settlement agreements made in relation to its debt, including the terms of the settlement, the revised debt balance, and any negotiated terms. This evidence will be submitted to [Lender Name] for confirmation.
Evidence of debt with documentation of debt obligations clause
This variation applies when documentation of debt obligations is required.
[Party Name] agrees to provide all relevant documentation that evidences its debt obligations, including loan agreements, promissory notes, and any amendments to the original debt terms. These documents will be submitted to [Lender Name] for verification and review.
Evidence of debt with early settlement clause
This variation applies when the debt is settled early.
[Party Name] agrees to provide evidence of early settlement of its debt, including the final payment amount, the balance of the debt, and any penalties or fees associated with early repayment. The evidence will be submitted to [Lender Name] to confirm the settlement terms.
Evidence of debt with capital contribution confirmation clause
This variation applies when a capital contribution reduces the debt.
[Party Name] agrees to provide evidence of any capital contributions made to reduce the outstanding debt, including the amount of the contribution, the date of contribution, and any changes to the terms of the debt agreement. This evidence will be provided to [Lender Name] for verification.
Evidence of debt with final settlement statement clause
This variation applies when a final settlement statement is required.
[Party Name] agrees to provide a final settlement statement detailing the full repayment of its debt, including the principal amount, interest accrued, and any remaining obligations. This statement will be submitted to [Lender Name] within [X] days of the final payment.
Evidence of debt with agreement extension clause
This variation applies when the debt agreement is extended.
[Party Name] agrees to provide evidence of any extensions to the original debt agreement, including the new terms, payment schedule, and interest rate. This evidence will be submitted to [Lender Name] for approval within [X] days of the extension.
Evidence of debt with partial repayment clause
This variation applies when partial repayments are made toward the debt.
[Party Name] agrees to provide evidence of any partial repayments made toward the debt, including the amount paid, the outstanding balance, and any changes to the repayment terms. This evidence will be provided to [Lender Name] upon request to verify the debt status.
Evidence of debt with loan prepayment clause
This variation applies when a loan prepayment is made.
[Party Name] agrees to provide evidence of any loan prepayment, including the amount prepaid, the remaining balance, and the effect on the repayment schedule. This evidence will be submitted to [Lender Name] to confirm that the prepayment has been properly applied to reduce the debt.
Evidence of debt with rollover agreement clause
This variation applies when a rollover agreement extends the debt.
[Party Name] agrees to provide evidence of any rollover agreements related to its debt, including the terms of the rollover, the new loan term, and any interest rate adjustments. This evidence will be submitted to [Lender Name] for verification.
Evidence of debt with non-payment notification clause
This variation applies when non-payment of debt is involved.
[Party Name] agrees to provide written notification of any instances of non-payment of its debt, including the reasons for non-payment and any actions taken to address the outstanding balance. This notification will be submitted to [Lender Name] promptly.
Evidence of debt with debt forgiveness agreement clause
This variation applies when the debt is forgiven.
[Party Name] agrees to provide evidence of any debt forgiveness agreements made with creditors, including the terms of the forgiveness and the new outstanding balance, if applicable. This evidence will be provided to [Lender Name] for confirmation.
Evidence of debt with financial covenant breach clause
This variation applies when a financial covenant breach impacts the debt.
If [Party Name] breaches any financial covenants related to its debt, [Party Name] agrees to provide evidence of the breach, including the reasons for the breach and the steps taken to rectify the situation. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with joint debt obligation clause
This variation applies when the debt is jointly owed.
[Party Name] agrees to provide evidence of any joint debt obligations, including the terms of the debt, the parties involved, and the respective shares of each party. This evidence will be provided to [Lender Name] for review.
Evidence of debt with cross-collateralization clause
This variation applies when debt is cross-collateralized.
[Party Name] agrees to provide evidence of any cross-collateralized debt, including a description of the collateral used to secure the debt and any terms that apply to the collateralization. This evidence will be submitted to [Lender Name] for verification.
Evidence of debt with secured vs unsecured debt distinction clause
This variation applies when secured and unsecured debt is distinguished.
[Party Name] agrees to provide evidence that distinguishes between secured and unsecured debt, including the respective obligations, collateral used, and repayment terms. This evidence will be submitted to [Lender Name] for confirmation.
Evidence of debt with debt restructuring terms clause
This variation applies when debt is restructured.
[Party Name] agrees to provide evidence of any debt restructuring terms, including the modified repayment schedule, interest rates, and any changes to the principal amount. This evidence will be submitted to [Lender Name] for approval.
Evidence of debt with debt instrument issuance clause
This variation applies when debt instruments are issued as evidence.
[Party Name] agrees to provide evidence of any debt instruments issued, including the type of instrument (e.g., bond, note, etc.), the issuance terms, and the amounts owed. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with debt write-off clause
This variation applies when the debt is written off.
[Party Name] agrees to provide evidence of any debt write-offs, including the reasons for the write-off, the amount written off, and any adjustments to the balance sheet. This evidence will be submitted to [Lender Name] for verification.
Evidence of debt with interest rate change clause
This variation applies when the interest rate on the debt changes.
[Party Name] agrees to provide evidence of any changes to the interest rate on its outstanding debt, including the new rate, the effective date, and any corresponding adjustments to the repayment schedule. This evidence will be provided to [Lender Name] upon request.
Evidence of debt with redemption payment clause
This variation applies when a redemption payment is made.
[Party Name] agrees to provide evidence of any redemption payments made toward its debt, including the redemption amount, the terms of the redemption, and any resulting changes to the debt balance. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with outstanding balance statement clause
This variation applies when an outstanding balance statement is required.
[Party Name] agrees to provide an updated statement of the outstanding debt balance, including the principal amount, accrued interest, and any remaining obligations. This statement will be submitted to [Lender Name] upon request or at agreed intervals.
Evidence of debt with accrued interest statement clause
This variation applies when interest accrual details are required.
[Party Name] agrees to provide evidence of the interest accrued on its debt, including a statement that shows the calculation of interest, the interest rate applied, and any adjustments to the interest amount. This evidence will be submitted to [Lender Name] quarterly.
Evidence of debt with repayment plan update clause
This variation applies when the repayment plan is updated.
[Party Name] agrees to provide updated evidence of its repayment plan, including any changes to the original terms, such as new payment amounts or dates. This evidence will be submitted to [Lender Name] for approval before implementing the updated plan.
Evidence of debt with bond issuance clause
This variation applies when bonds are issued as evidence of debt.
[Party Name] agrees to provide evidence of any bond issuance used to finance its debt, including the terms of the bond, the amount issued, the interest rate, and the repayment terms. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with payment default clause
This variation applies when a payment default occurs.
If [Party Name] defaults on any payments related to its debt, [Party Name] agrees to provide evidence of the default, including the outstanding amount, the reason for non-payment, and any corrective actions taken. This evidence will be submitted to [Lender Name] within [X] days of the default.
Evidence of debt with debt service coverage ratio clause
This variation applies when a debt service coverage ratio is required.
[Party Name] agrees to provide evidence of its debt service coverage ratio (DSCR), including the ratio calculation and supporting financial data. The ratio will be calculated based on EBITDA and total debt service, and will be submitted to [Lender Name] on a quarterly basis.
Evidence of debt with debt retirement clause
This variation applies when debt is retired.
[Party Name] agrees to provide evidence of any debt retirement, including the amount of debt retired, the method of retirement, and any relevant documentation confirming the transaction. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with loan modification clause
This variation applies when the debt terms are modified.
[Party Name] agrees to provide evidence of any modifications to the loan agreement, including changes to the principal, interest rates, repayment schedule, or any other terms of the loan. This evidence will be submitted to [Lender Name] for review and approval.
Evidence of debt with penalty calculation clause
This variation applies when penalties are calculated due to a debt issue.
[Party Name] agrees to provide evidence of any penalties applied to its debt, including the calculation method, the penalty amount, and the reason for the penalty. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with debt-for-equity swap clause
This variation applies when debt is exchanged for equity.
[Party Name] agrees to provide evidence of any debt-for-equity swap transactions, including the terms of the swap, the amount of debt converted, and the equity issued in return. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with legal action for non-payment clause
This variation applies when legal action is taken due to non-payment of debt.
If legal action is taken due to non-payment of debt, [Party Name] agrees to provide evidence of the legal proceedings, including any court documents, filings, or settlement agreements. This evidence will be submitted to [Lender Name] promptly.
Evidence of debt with debt reduction agreement clause
This variation applies when a debt reduction agreement is in place.
[Party Name] agrees to provide evidence of any debt reduction agreements, including the terms of the reduction, the total amount of debt forgiven, and any impact on the repayment schedule. This evidence will be submitted to [Lender Name] for approval.
Evidence of debt with loan repayment timeline clause
This variation applies when a loan repayment timeline is required.
[Party Name] agrees to provide evidence of the agreed-upon loan repayment timeline, including the dates and amounts of all scheduled payments. This evidence will be submitted to [Lender Name] on an annual basis or upon request to confirm repayment compliance.
Evidence of debt with debt extension clause
This variation applies when the debt is extended beyond the original term.
[Party Name] agrees to provide evidence of any extension of the debt repayment term, including the new terms, interest rates, and payment schedule. This evidence will be submitted to [Lender Name] upon the execution of the extension agreement.
Evidence of debt with payment acceleration clause
This variation applies when the debt repayment is accelerated.
[Party Name] agrees to provide evidence of any accelerated payments made toward the debt, including the accelerated amount and any impact on the debt balance. This evidence will be submitted to [Lender Name] for confirmation.
Evidence of debt with amortization schedule clause
This variation applies when an amortization schedule is required.
[Party Name] agrees to provide an updated amortization schedule as evidence of debt, showing the breakdown of principal and interest payments over time. This schedule will be submitted to [Lender Name] within [X] days of any change to the debt terms.
Evidence of debt with loan balance update clause
This variation applies when an updated loan balance is required.
[Party Name] agrees to provide a detailed loan balance update, including the outstanding principal, accrued interest, and any deferred payments. This evidence will be provided to [Lender Name] on an annual basis or upon request.
Evidence of debt with compliance audit clause
This variation applies when a compliance audit is required to verify debt.
[Party Name] agrees to submit evidence of debt in the form of a compliance audit conducted by an independent auditor. The audit will verify the total debt, repayment schedule, and compliance with the terms of the loan agreement. The audit report will be provided to [Lender Name] upon completion.
Evidence of debt with debt payment history clause
This variation applies when a payment history for the debt is required.
[Party Name] agrees to provide a comprehensive payment history showing all payments made toward the debt, including the dates, amounts, and remaining balance. This payment history will be submitted to [Lender Name] quarterly.
Evidence of debt with outstanding loan certificate clause
This variation applies when an official certificate of outstanding loan is required.
[Party Name] agrees to provide an official certificate verifying the total amount of outstanding debt, including principal and accrued interest, as of the date of the request. This certificate will be signed by an authorized officer of [Party Name] and submitted to [Lender Name] upon request.
Evidence of debt with debt confirmation letter clause
This variation applies when a confirmation letter from the creditor is required.
[Party Name] agrees to obtain and submit a debt confirmation letter from the creditor that details the outstanding balance, interest rate, payment terms, and any outstanding obligations. This confirmation will be provided to [Lender Name] within [X] days of the request.
Evidence of debt with accrued penalties clause
This variation applies when penalties for non-payment or late payment are involved.
[Party Name] agrees to provide evidence of any penalties accrued due to non-payment or late payment of the debt. The evidence will include the total penalty amount, the reasons for the penalties, and any associated terms. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with loan payment deferral clause
This variation applies when loan payments are deferred.
[Party Name] agrees to provide evidence of any loan payment deferral arrangements, including the terms of the deferral, the new payment schedule, and any adjustments to the interest rate. This evidence will be provided to [Lender Name] for verification.
Evidence of debt with debt restructuring agreement clause
This variation applies when the debt is restructured.
[Party Name] agrees to provide evidence of any debt restructuring agreements, including the revised loan terms, interest rates, and repayment schedule. This evidence will be submitted to [Lender Name] upon the execution of any restructuring agreement.
Evidence of debt with debt extension agreement clause
This variation applies when the debt repayment period is extended.
[Party Name] agrees to provide evidence of any debt extension agreements, including the terms of the extension, the new repayment dates, and the interest rate adjustments. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with loan covenant compliance clause
This variation applies when loan covenants are part of the debt.
[Party Name] agrees to provide evidence of compliance with any loan covenants, including the debt-to-equity ratio, cash flow requirements, and other financial covenants. This evidence will be submitted to [Lender Name] on a quarterly basis.
Evidence of debt with principal reduction agreement clause
This variation applies when the principal amount of debt is reduced.
[Party Name] agrees to provide evidence of any principal reduction agreements, including the amount of the reduction and the terms under which it was applied. This evidence will be submitted to [Lender Name] for verification.
Evidence of debt with debt balance reconciliation clause
This variation applies when a reconciliation of the debt balance is required.
[Party Name] agrees to provide evidence of a debt balance reconciliation, showing any adjustments made to the principal or interest since the last statement. This reconciliation will be submitted to [Lender Name] at the end of each fiscal quarter.
Evidence of debt with payment adjustment clause
This variation applies when the payment terms are adjusted.
[Party Name] agrees to provide evidence of any adjustments made to the repayment terms, including changes in the payment amount, frequency, or interest rate. This evidence will be submitted to [Lender Name] for review.
Evidence of debt with partial debt forgiveness clause
This variation applies when partial debt forgiveness is granted.
[Party Name] agrees to provide evidence of any partial debt forgiveness agreements, including the terms of the forgiveness and the amount of debt forgiven. This evidence will be submitted to [Lender Name] for confirmation.
Evidence of debt with loan prepayment clause
This variation applies when a loan is prepaid.
[Party Name] agrees to provide evidence of any prepayment made on the loan, including the amount paid, the date of payment, and the resulting reduction in debt. This evidence will be submitted to [Lender Name] for verification.
Evidence of debt with debt buyout clause
This variation applies when the debt is bought out by another party.
[Party Name] agrees to provide evidence of any debt buyout agreement, including the terms of the buyout, the party assuming the debt, and the new repayment terms. This evidence will be submitted to [Lender Name] upon the completion of the buyout.
Evidence of debt with cross-default clause
This variation applies when the debt includes a cross-default provision.
[Party Name] agrees to provide evidence of any cross-default events related to its debt. This evidence will include details of any defaults triggered by other debts or obligations and will be submitted to [Lender Name] upon request.
Evidence of debt with loan agreement amendment clause
This variation applies when the loan agreement is amended.
[Party Name] agrees to provide evidence of any amendments made to the original loan agreement, including changes to the repayment terms, interest rates, or loan covenants. This evidence will be submitted to [Lender Name] for review and approval.
Evidence of debt with additional financing clause
This variation applies when additional financing is obtained.
[Party Name] agrees to provide evidence of any additional financing obtained to support its debt obligations, including details of the new financing, the terms of the agreement, and the impact on the total debt load. This evidence will be submitted to [Lender Name] for approval.
Evidence of debt with collateral verification clause
This variation applies when collateral is used for securing debt.
[Party Name] agrees to provide evidence of any collateral securing its debt, including the nature and value of the collateral, the terms of the security interest, and any changes to the collateral over time. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with payment schedule confirmation clause
This variation applies when the payment schedule must be confirmed.
[Party Name] agrees to provide confirmation of the agreed-upon payment schedule for its debt, including the payment dates, amounts, and any adjustments made during the term of the loan. This confirmation will be provided to [Lender Name] upon request.
Evidence of debt with debt portfolio summary clause
This variation applies when a summary of the debt portfolio is required.
[Party Name] agrees to provide a summary of its debt portfolio, including the outstanding debt balances, interest rates, payment schedules, and any covenants or conditions attached to the debt. This summary will be submitted to [Lender Name] annually.
Evidence of debt with tax treatment confirmation clause
This variation applies when tax treatment of the debt is involved.
[Party Name] agrees to provide evidence of the tax treatment of its debt obligations, including any deductions, credits, or exemptions that apply to the debt. This evidence will be submitted to [Lender Name] for review and confirmation.
Evidence of debt with judgment lien clause
This variation applies when a judgment lien is placed on the debt.
[Party Name] agrees to provide evidence of any judgment liens placed on its assets due to the outstanding debt, including details of the judgment, the lien holder, and the terms of the lien. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with loan modification notification clause
This variation applies when loan modifications are notified.
[Party Name] agrees to notify [Lender Name] immediately upon any modification to the loan agreement, including changes to the debt amount, interest rate, or repayment terms. A formal notice of modification will be provided along with any supporting documentation.
Evidence of debt with debt issuance clause
This variation applies when debt is issued as evidence.
[Party Name] agrees to provide evidence of any debt issuance, including the issuance terms, the total amount issued, the interest rate, and the repayment schedule. This evidence will be submitted to [Lender Name] upon request.
Evidence of debt with shareholder approval clause
This variation applies when shareholder approval is required for the debt.
[Party Name] agrees to provide evidence of shareholder approval for any debt-related decisions, including the issuance of new debt or changes to existing debt terms. This evidence will be provided to [Lender Name] upon request.
Evidence of debt with principal payment adjustment clause
This variation applies when the principal payment is adjusted.
[Party Name] agrees to provide evidence of any adjustments made to the principal repayment amount, including the reason for the adjustment, the new repayment terms, and the impact on the outstanding debt. This evidence will be submitted to [Lender Name] for approval.
Evidence of debt with payment allocation clause
This variation applies when payments are allocated across multiple debts.
[Party Name] agrees to provide evidence of how payments are allocated across its various debt obligations, including the amounts paid toward each debt and the remaining balance for each loan. This evidence will be provided to [Lender Name] upon request.
Evidence of debt with lender consent clause
This variation applies when lender consent is required for changes to the debt.
[Party Name] agrees to obtain written consent from [Lender Name] before making any changes to the debt, including modifying repayment terms, extending the debt maturity, or adjusting the interest rate. Evidence of lender consent will be submitted as part of the documentation.
Evidence of debt with non-acceleration clause
This variation applies when acceleration of the debt is prohibited.
[Party Name] agrees to provide evidence that the debt has not been accelerated due to any payment defaults, including a statement confirming that the debt remains under the original repayment schedule. This evidence will be submitted to [Lender Name] if requested.
Evidence of debt with due diligence report clause
This variation applies when a due diligence report is required for the debt.
[Party Name] agrees to provide a due diligence report conducted by an independent auditor to verify the debt status, including the outstanding balance, any legal issues, and financial conditions. This report will be submitted to [Lender Name] for review.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.