The date of this Agreement is [Day] of [Month], 20[Year] (the “Signing Date”)
This is an agreement between:
- [Company Name] whose registered office is at [Insert Registered Address] (“the Borrower” in this Agreement); and
- [Company Name] whose registered office is at [Insert Registered Address] (“the Lender” in this Agreement).
- 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.
- 3.1 The Lender agrees to lend the Loan to the Borrower 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.
- 3.3 The Borrower can borrow the whole of the Loan at once, or ask for it in instalments of not less than the amount specified in the Schedule, over a period of not more than the length from the date of this Agreement specified in the Schedule. It must send a written notice to the Lender to ask for the whole Loan or an instalment, and the Lender must pay within 7 days of receiving the notice.
- 3.4 Any part of this Loan that has not been asked for by the date specified in the Schedule will be cancelled.
- 3.5 The Lender does not have to pay any part of the Loan to the Borrower if there has been an ‘Event of Default’ (see clause 8) before the Lender is due to pay it.
Also included in this document:
6. The Borrower’s Promises
7. The borrower’s obligations
8. Events of Default