Deed of Discharge

{{company_name}}

{{company_address}}

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

Deed of Discharge

Deed of Discharge

1. PARTIES

This Deed of Discharge is made and entered into on this {{day}} day of {{month}}, {{year}}.

BETWEEN:

{{creditor_company_name}}, a company duly incorporated in terms of the laws of {{creditor_country}}, with its principal place of business at {{creditor_address}} (hereinafter referred to as "the Creditor");

AND

{{debtor_company_name}}, a company duly incorporated in terms of the laws of {{debtor_country}}, with its principal place of business at {{debtor_address}} (hereinafter referred to as "the Debtor").

2. BACKGROUND

2.1. The Creditor previously advanced a loan/facility to the Debtor in the amount of {{original_debt_amount}} ({{original_debt_amount_words}}) on or about {{date_of_agreement}} (hereinafter referred to as "the Agreement").

2.2. The Agreement was subject to certain terms and conditions as stipulated in the loan agreement/facility letter dated {{date_of_agreement}}.

2.3. The Debtor has fully and finally repaid all amounts due and owing to the Creditor in terms of the Agreement, and has fulfilled all obligations thereunder.

3. DISCHARGE

3.1. The Creditor hereby acknowledges receipt of full and final settlement of all amounts due and owing by the Debtor in terms of the Agreement.

3.2. Consequently, the Creditor hereby unconditionally and irrevocably releases and discharges the Debtor from all obligations, liabilities, claims, and demands whatsoever arising out of or in connection with the Agreement.

3.3. The Creditor confirms that it has no further claim against the Debtor related to the Agreement.

4. WARRANTIES

4.1. The Creditor warrants that it has the full right, power, and authority to execute this Deed of Discharge and to grant the release herein contained.

4.2. The Creditor warrants that it has not assigned or encumbered any of its rights under the Agreement to any third party.

5. INDEMNITY

5.1. The Debtor indemnifies and holds harmless the Creditor against any claims, demands, costs, or expenses that may arise from any breach of the warranties provided by the Debtor.

6. GOVERNING LAW AND JURISDICTION

6.1. This Deed of Discharge shall be governed by and construed in accordance with the laws of {{governing_law_country}}.

6.2. The parties agree to submit to the non-exclusive jurisdiction of the courts of {{jurisdiction_country}} in respect of any dispute arising out of or in connection with this Deed of Discharge.

7. WHOLE AGREEMENT

7.1. This Deed of Discharge constitutes the entire agreement between the parties with regard to the subject matter hereof and supersedes all prior agreements, understandings, and representations, whether oral or written, between the parties.

8. VARIATION

8.1. No variation, alteration, or cancellation of this Deed of Discharge shall be of any force or effect unless reduced to writing and signed by both parties.

SIGNATURES

THUS DONE AND SIGNED AT {{place_of_signing}} ON THIS {{day_of_signing}} DAY OF {{month_of_signing}}, {{year_of_signing}}.

____________________________ For: {{creditor_company_name}} Name: {{creditor_signatory_name}} Designation: {{creditor_signatory_designation}}

____________________________ For: {{debtor_company_name}} Name: {{debtor_signatory_name}} Designation: {{debtor_signatory_designation}}