Michael (Mike) Gugerty is the principal of Gugerty Law Office, a real estate, business law and general practice firm serving clients in Maryland, Virginia and the District of Columbia regarding a broad range of commercial real estate, business ...
Practice areas & skills: Debt & Lending Agreements, Commercial, Landlord & Tenant, Real Estate, General Practice
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When you buy something on credit, you borrow the money from a lender and put yourself in debt. The paperwork documenting this transaction is a debt/lending agreement. For example, simple debt / lending agreements are used to finance RV or boat purchases. More complicated debt / lending agreements for commercial business operations may include complex credit agreements, promissory notes, security and guarantee agreements, subordination or inter-creditor agreements, patent or trademark collateral security agreements, assignment and assumption agreements, hazardous substance indemnity agreements, mortgage agreements, and accounts receivable letters. When substantial amounts of money are involved, you'll want to use a business attorney with experience in negotiating and drafting debt and lending agreements.