Docsity
Docsity

Prepare for your exams
Prepare for your exams

Study with the several resources on Docsity


Earn points to download
Earn points to download

Earn points by helping other students or get them with a premium plan


Guidelines and tips
Guidelines and tips

Loan Agreement, Assignments of Law of Torts

The document provided is a loan agreement, which outlines the terms and conditions of a loan between a borrower and a lender. The agreement covers key aspects such as the loan amount, interest rate, repayment schedule, prepayment options, costs and expenses, and legal considerations. It also includes a guarantee from a third-party guarantor. The document aims to establish a legally binding contract that protects the interests of both the borrower and the lender, ensuring clear communication and mutual understanding of the loan arrangement. The comprehensive nature of the agreement covers various scenarios and contingencies, making it a crucial document for any loan transaction.

Typology: Assignments

2021/2022

Uploaded on 12/12/2022

tushar-tokas
tushar-tokas 🇮🇳

1 document

1 / 3

Toggle sidebar

This page cannot be seen from the preview

Don't miss anything!

bg1
Loan Agreement
This Loan Agreement (this “Agreement”), is executed as of this [date] day of [month], [year]
(the “Effective Date”)
by and between
[Borrower’s Full Name], located at [Borrower’s Complete Address], hereinafter referred to as
the “Borrower” which expression unless repugnant to the context shall mean and includes its
legal representatives, assignee, nominee(s) and administrator;
and
[Lender’s Full Name], located at [Lender’s Complete Address], hereinafter referred to as the
“Lender” which expression unless repugnant to the context shall mean and includes its legal
representatives, assignee, nominee(s) and administrator;
WHEREAS at the request of the Borrower, the Lender has agreed to grant a Loan not exceeding
a sum of __________________________ to the Borrower for a period of ________________ on
terms and conditions hereinafter contained.
The parties agree as follows:
1. Loan Amount: The Lender agrees to loan the Borrower the principal sum of
___________________ (the “Loan”), together with interest on the outstanding principal amount
of the Loan (the "Principal Balance"), and in accordance with the terms set forth below.
2. Interest: The Principal Balance shall bear interest at the rate of ______% per annum, accruing
daily. Not withstanding, the total interest charged shall not exceed the maximum amount allowed
by law and the Borrower shall not be obligated to pay any interest in excess of such amount.
3. Repayment of Loan: The Loan, together with accrued and unpaid interest and all other
charges, costs and expenses, is due and payable on or before ___________________the due
date________.
pf3

Partial preview of the text

Download Loan Agreement and more Assignments Law of Torts in PDF only on Docsity!

Loan Agreement

This Loan Agreement (this “Agreement”), is executed as of this [date] day of [month], [year] (the “Effective Date”) by and between [Borrower’s Full Name], located at [Borrower’s Complete Address], hereinafter referred to as the “Borrower” which expression unless repugnant to the context shall mean and includes its legal representatives, assignee, nominee(s) and administrator; and [Lender’s Full Name], located at [Lender’s Complete Address], hereinafter referred to as the “Lender” which expression unless repugnant to the context shall mean and includes its legal representatives, assignee, nominee(s) and administrator; WHEREAS at the request of the Borrower, the Lender has agreed to grant a Loan not exceeding a sum of __________________________ to the Borrower for a period of ________________ on terms and conditions hereinafter contained. The parties agree as follows:

  1. Loan Amount : The Lender agrees to loan the Borrower the principal sum of ___________________ (the “Loan”), together with interest on the outstanding principal amount of the Loan (the "Principal Balance"), and in accordance with the terms set forth below.
  2. Interest : The Principal Balance shall bear interest at the rate of ______% per annum, accruing daily. Not withstanding, the total interest charged shall not exceed the maximum amount allowed by law and the Borrower shall not be obligated to pay any interest in excess of such amount.
  3. Repayment of Loan : The Loan, together with accrued and unpaid interest and all other charges, costs and expenses, is due and payable on or before ___________________the due date________.
  1. Guarantee : Guarantor’s Full Name, located at Guarantor’s Complete Address (the “Guarantor”) promises to unconditionally guarantee to the Lender, the full payment and performance by Borrower of all duties and obligations arising under this Agreement. The Guarantor agrees that this guarantee shall remain in full force and effect and be binding on the Guarantor until this Agreement is satisfied.
  2. Prepayment : The Borrower has the right to prepay all or any part of the Loan, together with accrued and unpaid interest thereon, at any time without prepayment penalty or premium of any kind.
  3. Costs and Expenses : Borrower shall pay to the Lender all costs of collection, including reasonable attorney's fees, the Lender incurs in enforcing this Agreement.
  4. Waiver : The Borrower and all sureties, guarantors and endorsers here of, waive presentment, protest and demand, notice of protest, demand and dishonor and non payment of this Agreement.
  5. Successors and Assigns : This Agreement will inure to the benefit of and be binding on the respective successors and permitted assigns of the Lender and the Borrower.
  6. Amendment : This Agreement may be amended or modified only by a written agreement, duly signed by both the Borrower and the Lender.
  7. Notices : Any notice or communication under this Loan must be in writing and sent via In-Person Delivery only.
  8. No Waiver : Lender shall not be deemed to have waived any provision of this Agreement or the exercise of any rights held under this Agreement unless such waiver is made expressly and in writing. Waiver by Lender of a breach or violation of any provision of this Agreement shall not constitute a waiver of any other subsequent breach or violation.
  9. Severability : In the event that any of the provisions of this Agreement are held to be invalid or unenforceable in whole or in part, the remaining provisions shall not be affected and shall continue to be valid and enforceable as though the invalid or unenforceable parts had not been included in this Agreement.
  10. Assignment : Borrower shall not assign this Agreement, in whole or in part, without the written consent of Lender. Lender may assign all or any portion of this Agreement with written notice to Borrower.