Caution: sample letters dont work for every. To use and personalize this subordination of loan and continual financial support letter sample, you just have to copy-paste the text of this article in your word processor ( Microsoft Word or Open Office Writer), or in your email program. Use this template letter to tell a creditor that you have no ability to make payments on debt right now. We, the shareholders, hereby confirm that we continue to support the aforesaid company for the coming year and that sufficient fund will be made available to this company to meet its liabilities as they fall due. We, the related company, hereby confirm that the amount due by this Company to us are hereby subordinated to the prior payment in full of all indebtedness and liabilities of this Company and that it is our intention to continue to subordinate our claims to that of other creditors.

Download the explanation template here Your letter should be: Dated. Use the outline below to help make the process as smooth as possible. In view of the excess of liabilities over assets of, disclosed by its accounts for the period from to, and in order that the position be rectified to avoid the risk of that Company being said to continue business. Template for an explanation letter Australian lenders have strict requirements for letters explaining any credit problems you may have. of notice or passage of time or both would become an Event of Default. Subordination of loan and continual financial support Drafting instructions are included in the sample document to assist in drafting. 1 Subordination of loan and continual financial support These 7+ loan letter Sample Letter Templates provides the best layout template, complete with great functional content that can be used on your next loan transaction.

Loan default letter template