This loan agreement is dated [Insert date].
It is made between:
- 1. [Insert borrower name] whose registered office address is [Insert registered address] (“Borrower”).
- 2. [Insert lender name] whose registered office address is [Insert registered address] (“Lender”).
- 2.1 The Lender has agreed to lend to the Borrower the amount set out in the Schedule (‘the Loan’), and this agreement contains the terms of the Loan. It includes details of the interest to be paid, and explains what the Lender can do if the Borrower does not repay the Loan. It also explains what happens if the Loan is not repaid and is instead converted into shares in the Borrower.
Loan and other services
- 3.1 The Lender agrees to lend the Loan to the Borrower on signature of this agreement and on the terms of this agreement.
- 3.2 The Borrower agrees to use the Loan for the purpose described in the Schedule but the Lender does not have to check that it is being used in this way.
Also included in this document:
7. The Borrower’s Obligations
8. Events of Default
9. Conversion of the Loan into Shares