Loan Agreement

LOAN AGREEMENT

This Loan Agreement ("Agreement") is made and entered into as of [Date] by and between [Your Name] who represents [Your Company Name] with a principal place of business at [Your Company Address], ("Lender") and [Borrower Name], with a principal place of business at [Borrower Address], ("Borrower").

1. Loan Details

The Lender agrees to loan the Borrower the sum of [Loan Amount] ("Loan Amount") under the terms and conditions set forth in this Agreement.

1.1 Interest Rate

The Loan Amount shall accrue interest at the rate of [Interest Rate]% per annum, calculated on the basis of a 365-day year.

1.2 Repayment Terms

  • Total repayments will amount to [Total Repayment Amount].

  • The Borrower shall make monthly payments of [Monthly Payment Amount], commencing on [First Payment Date] and on the same day of each subsequent month until the Loan Amount and accrued interest are fully repaid.

2. Security

The Loan is [secured/unsecured]. If secured, the Borrower agrees to provide the following collateral: [Description of Collateral].

3. Borrower's Representations and Warranties

  • The Borrower is duly organized and validly existing under the laws of [Applicable Jurisdiction].

  • The Borrower has the authority and capacity to execute and deliver this Agreement.

  • All information provided by the Borrower to the Lender is true and accurate.

4. Covenants

The Borrower agrees to the following covenants:

  • To use the Loan Amount solely for [Purpose of Loan].

  • To maintain all insurance required for the collateral.

  • To provide the Lender with financial statements as requested.

5. Default

5.1 Events of Default

Any of the following shall constitute an event of default ("Event of Default"):

  1. Failure to make any payment when due.

  2. Violation of any covenant or agreement within this Agreement.

  3. Borrower's insolvency or bankruptcy.

5.2 Remedies

Upon an Event of Default, the Lender may declare the outstanding Loan Amount and accrued interest immediately due and payable and exercise any or all rights and remedies available under law

6. Miscellaneous

6.1 Governing Law

This Agreement shall be governed by and construed in accordance with the laws of [Governing Jurisdiction].

6.2 Entire Agreement

This Agreement, including any exhibits, constitutes the entire agreement between the parties and supersedes any prior understandings or agreements.

6.3 Amendments

No amendment, modification, or waiver of any provision of this Agreement shall be effective unless in writing and signed by both parties.

Signatures

By signing this document, both parties agree to the terms and conditions outlined in this Agreement on this [Number] day of [Month] [Year].

[Your Name]

Lender

[Borrower Name]

Borrower