Loan Agreement
This Loan Agreement (this “Agreement”) is entered into as of ___________, 20__, by and between __________ (the “Borrower”) and__________ (the “Lender”).
WHEREAS:
A. The Borrower wishes to borrow the principal sum of __________ (the “Loan”) from the Lender; and
B. The Lender wishes to lend the Loan to the Borrower, subject to the terms and conditions of this Agreement.
NOW, THEREFORE, in consideration of the Borrower’s promise to repay the Loan and the mutual covenants, promises, conditions and agreements herein contained, the parties hereto agree as follows:
1. Loan
1.1 The Lender agrees to advance the Borrower the sum of ___________ (the “Loan”) for the purposes of ___________________. The Loan will be advanced in ___________________ equal payments.
1.2 The Loan will be disbursed as follows:
(a) ______________________
(b) ______________________
(c) ______________________
2. Repayment
2.1 The Borrower shall repay the Loan in full, plus any accrued interest, on _____________ (the “Payment Date”).
2.2 The Payments shall be made by ___________ in the amount of ____________ at the following address:
______________
2.3 The Borrower shall pay interest at the rate of ___________ percent (______%) from the date of the Loan until the Payment Date.
3. Default
3.1 In the event of a Default, the Lender shall have the right to declare all amounts due and owing under this Agreement, including the Loan and any accrued interest, immediately due and payable in full.
4. Dispute Resolution
4.1 All disputes arising out of or relating to this Agreement shall be resolved through binding arbitration by a single arbitrator appointed in accordance with international arbitration laws and regulations.
4.2 The venue for such arbitration shall be ___________________ .
4.3 The parties shall bear their own costs and expenses of arbitration, unless otherwise stated in the arbitral award.
IN WITNESS WHEREOF, the parties hereby execute this Agreement effective on the date first written above.
Borrower ________________________
Lender _______________________
