diff --git a/src/main/php/com/github/mustache/FileBasedTemplateLoader.class.php b/src/main/php/com/github/mustache/FileBasedTemplateLoader.class.php
index e81daef..5dfcea7 100755
--- a/src/main/php/com/github/mustache/FileBasedTemplateLoader.class.php
+++ b/src/main/php/com/github/mustache/FileBasedTemplateLoader.class.php
@@ -1,13 +1,17 @@
 <?php namespace com\github\mustache;
 
 use util\Objects;
+use text\StreamTokenizer;
+use com\github\mustache\templates\Templates;
+use com\github\mustache\templates\Tokens;
+use com\github\mustache\templates\NotFound;
 
 /**
  * File-based template loading loads templates from the file system.
  *
  * @test  xp://com.github.mustache.unittest.FileBasedTemplateLoaderTest
  */
-abstract class FileBasedTemplateLoader implements TemplateLoader, WithListing {
+abstract class FileBasedTemplateLoader extends Templates {
   protected $base, $extensions, $listing;
 
   /**
@@ -46,16 +50,16 @@ protected abstract function inputStreamFor($name);
   /**
    * Load a template by a given name
    *
-   * @param  string $name The template name without file extension
-   * @return io.streams.InputStream
-   * @throws com.github.mustache.TemplateNotFoundException
+   * @param  string $name The template name, not including the file extension
+   * @return com.github.mustache.templates.Source
    */
-  public function load($name) {
+  public function source($name) {
     $variants= $this->variantsOf($name);
     foreach ($variants as $variant) {
-      if ($stream= $this->inputStreamFor($variant)) return $stream;
+      if ($stream= $this->inputStreamFor($variant)) return new Tokens($variant, new StreamTokenizer($stream));
     }
-    throw new TemplateNotFoundException('Cannot find template ['.implode(', ', $variants).'] in '.Objects::stringOf($this->base));
+
+    return new NotFound('Cannot find template ['.implode(', ', $variants).'] in '.Objects::stringOf($this->base));
   }
 
   /**
diff --git a/src/main/php/com/github/mustache/InMemory.class.php b/src/main/php/com/github/mustache/InMemory.class.php
index 7bfa40b..17b59d9 100755
--- a/src/main/php/com/github/mustache/InMemory.class.php
+++ b/src/main/php/com/github/mustache/InMemory.class.php
@@ -1,13 +1,16 @@
 <?php namespace com\github\mustache;
 
-use io\streams\MemoryInputStream;
+use text\StringTokenizer;
+use com\github\mustache\templates\Templates;
+use com\github\mustache\templates\NotFound;
+use com\github\mustache\templates\Tokens;
 
 /**
  * Template loading
  *
  * @test  xp://com.github.mustache.unittest.InMemoryTest
  */
-class InMemory implements TemplateLoader, WithListing {
+class InMemory extends Templates {
   protected $templates, $listing;
 
   /**
@@ -54,18 +57,18 @@ public function add($name, $bytes) {
     return $this;
   }
 
-	/**
-	 * Load a template by a given name
-	 *
-	 * @param  string $name The template name without file extension
-	 * @return io.streams.InputStream
-	 * @throws com.github.mustache.TemplateNotFoundException
-	 */
-  public function load($name) {
+  /**
+   * Load a template by a given name
+   *
+   * @param  string $name The template name, not including the file extension
+   * @return com.github.mustache.templates.Source
+   */
+  public function source($name) {
     if (isset($this->templates[$name])) {
-      return new MemoryInputStream($this->templates[$name]);
+      return new Tokens($name, new StringTokenizer($this->templates[$name]));
+    } else {
+      return new NotFound('Cannot find template '.$name);
     }
-    throw new TemplateNotFoundException('Cannot find template '.$name);
   }
 
   /**
diff --git a/src/main/php/com/github/mustache/MustacheEngine.class.php b/src/main/php/com/github/mustache/MustacheEngine.class.php
index e8406de..47ebe89 100644
--- a/src/main/php/com/github/mustache/MustacheEngine.class.php
+++ b/src/main/php/com/github/mustache/MustacheEngine.class.php
@@ -1,6 +1,8 @@
 <?php namespace com\github\mustache;
 
-use text\StreamTokenizer;
+use com\github\mustache\templates\Source;
+use com\github\mustache\templates\Templates;
+use com\github\mustache\templates\FromLoader;
 use text\StringTokenizer;
 
 /**
@@ -23,8 +25,7 @@
  * @see  http://mustache.github.io/mustache.5.html
  */
 class MustacheEngine {
-  protected $templates;
-  protected $parser;
+  protected $templates, $parser;
   public $helpers= [];
 
   /**
@@ -38,18 +39,22 @@ public function __construct() {
   /**
    * Sets template loader to be used
    *
-   * @param  com.github.mustache.TemplateLoader $l
+   * @param  com.github.mustache.templates.Templates|com.github.mustache.TemplateLoader $l
    * @return self this
    */
-  public function withTemplates(TemplateLoader $l) {
-    $this->templates= $l;
+  public function withTemplates($l) {
+    if ($l instanceof Templates) {
+      $this->templates= $l;
+    } else {
+      $this->templates= new FromLoader($l);
+    }
     return $this;
   }
 
   /**
-   * Sets template loader to be used
+   * Gets used template loader
    *
-   * @return com.github.mustache.TemplateLoader
+   * @return com.github.mustache.Templates
    */
   public function getTemplates() {
     return $this->templates;
@@ -90,25 +95,24 @@ public function withHelpers(array $helpers) {
   }
 
   /**
-   * Compile a template.
+   * Compile a template
    *
-   * @param  string $template The template, as a string
+   * @param  string|com.github.mustache.templates.Source $source The template source
    * @param  string $start Initial start tag, defaults to "{{"
    * @param  string $end Initial end tag, defaults to "}}"
    * @param  string $indent Indenting level, defaults to no indenting
    * @return com.github.mustache.Template
    */
-  public function compile($template, $start= '{{', $end= '}}', $indent= '') {
-    return new Template('<string>', $this->parser->parse(
-      new StringTokenizer($template),
-      $start,
-      $end,
-      $indent
-    ));
+  public function compile($source, $start= '{{', $end= '}}', $indent= '') {
+    if ($source instanceof Source) {
+      return $source->compile($this->parser, $start, $end, $indent);
+    } else {
+      return new Template('<string>', $this->parser->parse(new StringTokenizer($source), $start, $end, $indent));
+    }
   }
 
   /**
-   * Load a template.
+   * Load and compile a template
    *
    * @param  string $name The template name.
    * @param  string $start Initial start tag, defaults to "{{"
@@ -117,47 +121,37 @@ public function compile($template, $start= '{{', $end= '}}', $indent= '') {
    * @return com.github.mustache.Template
    */
   public function load($name, $start= '{{', $end= '}}', $indent= '') {
-    return new Template($name, $this->parser->parse(
-      new StreamTokenizer($this->templates->load($name)),
-      $start,
-      $end,
-      $indent
-    ));
+    return $this->templates->source($name)->compile($this->parser, $start, $end, $indent);
   }
 
   /**
    * Evaluate a compiled template.
    *
    * @param  com.github.mustache.Template $template The template
-   * @param  var $arg Either a view context, or a Context instance
+   * @param  com.github.mustache.Context|[:var] $context The context
    * @return string The rendered output
    */
-  public function evaluate(Template $template, $arg) {
-    if ($arg instanceof Context) {
-      $context= $arg;
+  public function evaluate(Template $template, $context) {
+    if ($context instanceof Context) {
+      $c= $context;
     } else {
-      $context= new DataContext($arg);
+      $c= new DataContext($context);
     }
-    return $template->evaluate($context->withEngine($this));
+    return $template->evaluate($c->withEngine($this));
   }
 
   /**
-   * Render a template - like evaluate(), but will compile if necessary.
+   * Render a template, compiling it from source
    *
-   * @param  var $template The template, either as string or as compiled Template instance
-   * @param  var $arg Either a view context, or a Context instance
+   * @param  string|com.github.mustache.templates.Source $source The template source
+   * @param  com.github.mustache.Context|[:var] $context The context
    * @param  string $start Initial start tag, defaults to "{{"
    * @param  string $end Initial end tag, defaults to "}}"
    * @param  string $indent Indenting level, defaults to no indenting
    * @return string The rendered output
    */
-  public function render($template, $arg, $start= '{{', $end= '}}', $indent= '') {
-    if ($template instanceof Template) {
-      $target= $template;
-    } else {
-      $target= $this->compile($template, $start, $end, $indent);
-    }
-    return $this->evaluate($target, $arg);
+  public function render($source, $context, $start= '{{', $end= '}}', $indent= '') {
+    return $this->evaluate($this->compile($source, $start, $end, $indent), $context);
   }
 
   /**
@@ -165,16 +159,13 @@ public function render($template, $arg, $start= '{{', $end= '}}', $indent= '') {
    * the template loader.
    *
    * @param  string $name The template name.
-   * @param  var $arg Either a view context, or a Context instance
+   * @param  com.github.mustache.Context|[:var] $context The context
    * @param  string $start Initial start tag, defaults to "{{"
    * @param  string $end Initial end tag, defaults to "}}"
    * @param  string $indent Indenting level, defaults to no indenting
    * @return string The rendered output
    */
-  public function transform($name, $arg, $start= '{{', $end= '}}', $indent= '') {
-    return $this->evaluate(
-      $this->load($name, $start, $end, $indent),
-      $arg
-    );
+  public function transform($name, $context, $start= '{{', $end= '}}', $indent= '') {
+    return $this->evaluate($this->load($name, $start, $end, $indent), $context);
   }
 }
\ No newline at end of file
diff --git a/src/main/php/com/github/mustache/TemplateLoader.class.php b/src/main/php/com/github/mustache/TemplateLoader.class.php
index 9fdd71a..33f7d99 100755
--- a/src/main/php/com/github/mustache/TemplateLoader.class.php
+++ b/src/main/php/com/github/mustache/TemplateLoader.class.php
@@ -3,6 +3,7 @@
 /**
  * Template loading
  *
+ * @deprecated Use com.github.mustache.templates.Templates instead!
  * @test xp://com.github.mustache.unittest.TemplateTransformationTest
  */
 interface TemplateLoader {
diff --git a/src/main/php/com/github/mustache/WithListing.class.php b/src/main/php/com/github/mustache/WithListing.class.php
index 677d500..e642e08 100755
--- a/src/main/php/com/github/mustache/WithListing.class.php
+++ b/src/main/php/com/github/mustache/WithListing.class.php
@@ -2,6 +2,8 @@
 
 /**
  * Template listing
+ *
+ * @deprecated Use com.github.mustache.templates.Templates instead!
  */
 interface WithListing {
 
diff --git a/src/main/php/com/github/mustache/templates/Compiled.class.php b/src/main/php/com/github/mustache/templates/Compiled.class.php
new file mode 100755
index 0000000..e63179b
--- /dev/null
+++ b/src/main/php/com/github/mustache/templates/Compiled.class.php
@@ -0,0 +1,26 @@
+<?php namespace com\github\mustache\templates;
+
+class Compiled extends Source {
+  private $tokens;
+
+  /** @param com.github.mustache.Template */
+  public function __construct($template) {
+    $this->template= $template;
+  }
+
+  /** @return string */
+  public function code() { return (string)$this->template; }
+
+  /**
+   * Compiles this source into a template
+   *
+   * @param  com.github.mustache.MustacheParser $parser
+   * @param  string $start
+   * @param  string $end
+   * @param  string $indent
+   * @return com.github.mustache.Template
+   */
+  public function compile($parser, $start, $end, $indent) {
+    return $this->template;
+  }
+}
\ No newline at end of file
diff --git a/src/main/php/com/github/mustache/templates/FromLoader.class.php b/src/main/php/com/github/mustache/templates/FromLoader.class.php
new file mode 100755
index 0000000..e636e2d
--- /dev/null
+++ b/src/main/php/com/github/mustache/templates/FromLoader.class.php
@@ -0,0 +1,47 @@
+<?php namespace com\github\mustache\templates;
+
+use text\StreamTokenizer;
+use lang\IllegalAccessException;
+use com\github\mustache\WithListing;
+use com\github\mustache\templates\Tokens;
+
+/**
+ * Adapter for TemplateLoaders
+ *
+ * @deprecated Template loaders were replaced by `Templates`.
+ */
+class FromLoader extends Templates {
+  private $loader;
+
+  /** @param com.github.mustache.TemplateLoader $loader */
+  public function __construct($loader) {
+    $this->loader= $loader;
+  }
+
+  /**
+   * Load a template by a given name
+   *
+   * @param  string $name The template name, not including the file extension
+   * @return com.github.mustache.TemplateSource
+   */
+  public function source($name) {
+    try {
+      return new Tokens($name, new StreamTokenizer($this->loader->load($name)));
+    } catch (TemplateNotFoundException $e) {
+      return new NotFound($e->getMessage());
+    }
+  }
+
+  /**
+   * Returns available templates
+   *
+   * @return  com.github.mustache.TemplateListing
+   */
+  public function listing() {
+    if ($this->loader instanceof WithListing) {
+      return $this->loader->listing();
+    } else {
+      throw new IllegalAccessException(typeof($this->loader)->toString().' does not provide listing');
+    }
+  }
+}
\ No newline at end of file
diff --git a/src/main/php/com/github/mustache/templates/NotFound.class.php b/src/main/php/com/github/mustache/templates/NotFound.class.php
new file mode 100755
index 0000000..74b2c79
--- /dev/null
+++ b/src/main/php/com/github/mustache/templates/NotFound.class.php
@@ -0,0 +1,33 @@
+<?php namespace com\github\mustache\templates;
+
+use com\github\mustache\TemplateNotFoundException;
+
+class NotFound extends Source {
+  private $reason;
+
+  /** @param string $reason */
+  public function __construct($reason) {
+    $this->reason= $reason;
+  }
+
+  /** @return bool */
+  public function exists() { return false; }
+
+  /** @return string */
+  public function code() {
+    throw new TemplateNotFoundException($this->reason);
+  }
+
+  /**
+   * Compiles this source into a template
+   *
+   * @param  com.github.mustache.MustacheParser $parser
+   * @param  string $start
+   * @param  string $end
+   * @param  string $indent
+   * @return com.github.mustache.Template
+   */
+  public function compile($parser, $start, $end, $indent) {
+    throw new TemplateNotFoundException($this->reason);
+  }
+}
\ No newline at end of file
diff --git a/src/main/php/com/github/mustache/templates/Source.class.php b/src/main/php/com/github/mustache/templates/Source.class.php
new file mode 100755
index 0000000..5e92227
--- /dev/null
+++ b/src/main/php/com/github/mustache/templates/Source.class.php
@@ -0,0 +1,21 @@
+<?php namespace com\github\mustache\templates;
+
+abstract class Source {
+
+  /** @return bool */
+  public function exists() { return true; }
+
+  /** @return string */
+  public abstract function code();
+
+  /**
+   * Compiles this source into a template
+   *
+   * @param  com.github.mustache.MustacheParser $parser
+   * @param  string $start
+   * @param  string $end
+   * @param  string $indent
+   * @return com.github.mustache.Node
+   */
+  public abstract function compile($parser, $start, $end, $indent);
+}
\ No newline at end of file
diff --git a/src/main/php/com/github/mustache/templates/Templates.class.php b/src/main/php/com/github/mustache/templates/Templates.class.php
new file mode 100755
index 0000000..ce92afa
--- /dev/null
+++ b/src/main/php/com/github/mustache/templates/Templates.class.php
@@ -0,0 +1,42 @@
+<?php namespace com\github\mustache\templates;
+
+use com\github\mustache\TemplateLoader;
+use com\github\mustache\WithListing;
+use io\streams\MemoryInputStream;
+
+/**
+ * Template loading
+ *
+ * @test  xp://com.github.mustache.unittest.InMemoryTest
+ * @test  xp://com.github.mustache.unittest.FileBasedTemplateLoaderTest
+ * @test  xp://com.github.mustache.unittest.DeprecatedLoaderFunctionalityTest
+ */
+abstract class Templates implements TemplateLoader, WithListing {
+
+  /**
+   * Load a template by a given name
+   *
+   * @param  string $name The template name, not including the file extension
+   * @return com.github.mustache.templates.Input
+   */
+  public abstract function source($name);
+
+  /**
+   * Returns available templates
+   *
+   * @return com.github.mustache.TemplateListing
+   */
+  public abstract function listing();
+
+  /**
+   * Load a template by a given name
+   *
+   * @deprecated Use source() instead
+   * @param  string $name The template name, not including the ".mustache" extension
+   * @return io.streams.InputStream
+   * @throws com.github.mustache.TemplateNotFoundException
+   */
+  public function load($name) {
+    return new MemoryInputStream($this->source($name)->code());
+  }
+}
\ No newline at end of file
diff --git a/src/main/php/com/github/mustache/templates/Tokens.class.php b/src/main/php/com/github/mustache/templates/Tokens.class.php
new file mode 100755
index 0000000..0a95e1f
--- /dev/null
+++ b/src/main/php/com/github/mustache/templates/Tokens.class.php
@@ -0,0 +1,40 @@
+<?php namespace com\github\mustache\templates;
+
+use com\github\mustache\Template;
+
+class Tokens extends Source {
+  private $source, $tokens;
+
+  /**
+   * Creates a new token source
+   *
+   * @param  string $source
+   * @param  text.Tokenizer $tokens
+   */
+  public function __construct($source, $tokens) {
+    $this->source= $source;
+    $this->tokens= $tokens;
+  }
+
+  /** @return string */
+  public function code() {
+    $s= '';
+    while ($this->tokens->hasMoreTokens()) {
+      $s.= $this->tokens->nextToken(true);
+    }
+    return $s;
+  }
+
+  /**
+   * Compiles this source into a template
+   *
+   * @param  com.github.mustache.MustacheParser $parser
+   * @param  string $start
+   * @param  string $end
+   * @param  string $indent
+   * @return com.github.mustache.Template
+   */
+  public function compile($parser, $start, $end, $indent) {
+    return new Template($this->source, $parser->parse($this->tokens, $start, $end, $indent));
+  }
+}
\ No newline at end of file
diff --git a/src/test/php/com/github/mustache/unittest/DeprecatedLoaderFunctionalityTest.class.php b/src/test/php/com/github/mustache/unittest/DeprecatedLoaderFunctionalityTest.class.php
new file mode 100755
index 0000000..4cf0179
--- /dev/null
+++ b/src/test/php/com/github/mustache/unittest/DeprecatedLoaderFunctionalityTest.class.php
@@ -0,0 +1,21 @@
+<?php namespace com\github\mustache\unittest;
+
+use com\github\mustache\InMemory;
+use com\github\mustache\TemplateNotFoundException;
+use io\streams\Streams;
+
+/** @deprecated */
+class DeprecatedLoaderFunctionalityTest extends \unittest\TestCase {
+
+  #[@test]
+  public function load_returns_stream() {
+    $content= 'Mustache template {{id}}';
+    $loader= new InMemory(['test' => $content]);
+    $this->assertEquals($content, Streams::readAll($loader->load('test')));
+  }
+
+  #[@test, @expect(class= TemplateNotFoundException::class, withMessage= 'Cannot find template not-found')]
+  public function load_raises_error_for_nonexistant_templates() {
+    (new InMemory())->load('not-found');
+  }
+}
\ No newline at end of file
diff --git a/src/test/php/com/github/mustache/unittest/FileBasedTemplateLoaderTest.class.php b/src/test/php/com/github/mustache/unittest/FileBasedTemplateLoaderTest.class.php
index 65cecdd..073f052 100755
--- a/src/test/php/com/github/mustache/unittest/FileBasedTemplateLoaderTest.class.php
+++ b/src/test/php/com/github/mustache/unittest/FileBasedTemplateLoaderTest.class.php
@@ -40,14 +40,14 @@ protected function newFixture($args) {
   #[@test]
   public function load_asks_for_mustache_extension_by_default() {
     $loader= $this->newFixture(['base']);
-    $loader->load('template');
+    $loader->source('template');
     $this->assertEquals(['template.mustache'], $loader->askedFor);
   }
 
   #[@test]
   public function load_asks_for_all_given_variants() {
     $loader= $this->newFixture(['base', ['.mustache', '.ms']]);
-    $loader->load('template');
+    $loader->source('template');
     $this->assertEquals(['template.mustache', 'template.ms'], $loader->askedFor);
   }
 
diff --git a/src/test/php/com/github/mustache/unittest/FilesInTest.class.php b/src/test/php/com/github/mustache/unittest/FilesInTest.class.php
index c8a7b83..9ca7b4a 100755
--- a/src/test/php/com/github/mustache/unittest/FilesInTest.class.php
+++ b/src/test/php/com/github/mustache/unittest/FilesInTest.class.php
@@ -3,7 +3,6 @@
 use com\github\mustache\FilesIn;
 use com\github\mustache\TemplateNotFoundException;
 use lang\System;
-use io\streams\Streams;
 use io\Folder;
 use io\File;
 use io\FileUtil;
@@ -39,17 +38,17 @@ public static function cleanupFiles() {
   }
 
   #[@test]
-  public function load_from_default_class_loader() {
+  public function source_from_default_class_loader() {
     $loader= new FilesIn(self::$temp);
     $this->assertEquals(
       'Mustache template {{id}}',
-      Streams::readAll($loader->load('test'))
+      $loader->source('test')->code()
     );
   }
 
-  #[@test, @expect(TemplateNotFoundException::class)]
-  public function load_non_existant() {
-    (new FilesIn(self::$temp))->load('@non.existant@');
+  #[@test]
+  public function source_non_existant() {
+    $this->assertFalse((new FilesIn(self::$temp))->source('@non.existant@')->exists());
   }
 
   #[@test]
diff --git a/src/test/php/com/github/mustache/unittest/InMemoryTest.class.php b/src/test/php/com/github/mustache/unittest/InMemoryTest.class.php
index 90489a7..b54b649 100755
--- a/src/test/php/com/github/mustache/unittest/InMemoryTest.class.php
+++ b/src/test/php/com/github/mustache/unittest/InMemoryTest.class.php
@@ -1,21 +1,19 @@
 <?php namespace com\github\mustache\unittest;
 
 use com\github\mustache\InMemory;
-use com\github\mustache\TemplateNotFoundException;
-use io\streams\Streams;
 
 class InMemoryTest extends \unittest\TestCase {
 
   #[@test]
-  public function load() {
+  public function source() {
     $content= 'Mustache template {{id}}';
     $loader= new InMemory(['test' => $content]);
-    $this->assertEquals($content, Streams::readAll($loader->load('test')));
+    $this->assertEquals($content, $loader->source('test')->code());
   }
 
-  #[@test, @expect(TemplateNotFoundException::class)]
-  public function load_non_existant() {
-    (new InMemory())->load('@non.existant@');
+  #[@test]
+  public function source_non_existant() {
+    $this->assertFalse((new InMemory())->source('@non.existant@')->exists());
   }
 
   #[@test]
diff --git a/src/test/php/com/github/mustache/unittest/ResourcesInTest.class.php b/src/test/php/com/github/mustache/unittest/ResourcesInTest.class.php
index ba896d9..a43e307 100755
--- a/src/test/php/com/github/mustache/unittest/ResourcesInTest.class.php
+++ b/src/test/php/com/github/mustache/unittest/ResourcesInTest.class.php
@@ -1,24 +1,22 @@
 <?php namespace com\github\mustache\unittest;
 
 use com\github\mustache\ResourcesIn;
-use com\github\mustache\TemplateNotFoundException;
 use lang\ClassLoader;
-use io\streams\Streams;
 
 class ResourcesInTest extends \unittest\TestCase {
 
   #[@test]
-  public function load_from_default_class_loader() {
+  public function source_from_default_class_loader() {
     $loader= new ResourcesIn(ClassLoader::getDefault());
     $this->assertEquals(
       'Mustache template {{id}}',
-      Streams::readAll($loader->load('com/github/mustache/unittest/template'))
+      $loader->source('com/github/mustache/unittest/template')->code()
     );
   }
 
-  #[@test, @expect(TemplateNotFoundException::class)]
-  public function load_non_existant() {
-    (new ResourcesIn(ClassLoader::getDefault()))->load('@non.existant@');
+  #[@test]
+  public function source_non_existant() {
+    $this->assertFalse((new ResourcesIn(ClassLoader::getDefault()))->source('@non.existant@')->exists());
   }
 
   #[@test]