Credit Agreement

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Credit Agreement

Credit Agreement

PARTIES

This Credit Agreement ('Agreement') is made and entered into on this {{day}} day of {{month}}, {{year}},

BETWEEN:

{{lender_company_name}} (Registration Number: {{lender_registration_number}}), a company duly incorporated under the laws of {{lender_jurisdiction}}, with its principal place of business at {{lender_address}} (hereinafter referred to as 'the Lender')

AND

{{borrower_full_name}} (Identification Number: {{borrower_id_number}}), an individual residing at {{borrower_address}} / {{borrower_company_name}} (Registration Number: {{borrower_registration_number}}), a company duly incorporated under the laws of {{borrower_jurisdiction}}, with its principal place of business at {{borrower_address}} (hereinafter referred to as 'the Borrower')

LOAN AMOUNT AND DISBURSEMENT

The Lender agrees to lend to the Borrower the principal sum of {{loan_amount}} ({{loan_amount_words}}) (hereinafter referred to as 'the Principal Sum').

The Principal Sum shall be disbursed to the Borrower on or before {{disbursement_date}} in the following manner: {{disbursement_method}}.

INTEREST

The Principal Sum shall accrue interest at a rate of {{interest_rate}}% per annum, calculated on a {{interest_calculation_basis}} basis.

Interest shall be calculated from the date of disbursement until the Principal Sum and all accrued interest are repaid in full.

REPAYMENT

The Borrower shall repay the Principal Sum and all accrued interest in {{number_of_installments}} equal monthly installments of {{installment_amount}}, commencing on {{first_repayment_date}} and continuing on the {{repayment_day_of_month}} day of each subsequent month until the Principal Sum and all accrued interest are repaid in full.

Payments shall be made by {{payment_method}} to the Lender's nominated bank account: Account Name: {{lender_bank_account_name}}, Bank: {{lender_bank_name}}, Account Number: {{lender_bank_account_number}}, Branch Code: {{lender_bank_branch_code}}.

DEFAULT

Should the Borrower fail to make any payment on the due date, the Borrower shall be in default of this Agreement.

In the event of default, the entire outstanding balance of the Principal Sum and all accrued interest shall become immediately due and payable.

The Borrower shall be liable for all costs incurred by the Lender in recovering the outstanding amounts, including but not limited to legal fees on an attorney and client scale.

GOVERNING LAW AND JURISDICTION

This Agreement shall be governed by and construed in accordance with the laws of {{governing_law_jurisdiction}}.

Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of {{jurisdiction_for_disputes}}.

GENERAL PROVISIONS

This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements, understandings, and negotiations, whether written or oral.

No amendment or variation of this Agreement shall be valid unless reduced to writing and signed by both parties.

The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision hereof.

NOTICES

Any notice required or permitted to be given under this Agreement shall be in writing and shall be delivered by hand, prepaid registered post, or email to the addresses specified in the 'PARTIES' section of this Agreement, or such other address as a party may notify to the other from time to time.

SIGNATURES

IN WITNESS WHEREOF, the parties have executed this Credit Agreement on the date first above written.

LENDER:

___________________________

Name: {{lender_signatory_name}}

Title: {{lender_signatory_title}}

Date: _______________________

BORROWER:

___________________________

Name: {{borrower_signatory_name}}

Title: {{borrower_signatory_title}}

Date: _______________________