Debt Contract
DEBT CONTRACT
This Debt Contract (the "Contract") is entered into as of [Date] (the "Effective Date"), by and between [Your Company Name], located at [Your Company Address] (the "Lender"), and [Borrower’s Name], located at [Borrower's Address] (the "Borrower").
SECTION 1: LOAN AMOUNT AND TERMS
The Lender agrees to lend to the Borrower the principal sum of [Amount] (the "Loan"). The Loan will bear interest on the outstanding principal at an annual rate of [Percentage]% (the "Interest").
SECTION 2: LOAN REPAYMENT
The Borrower will repay the Loan on [Payment Date] (the “Final Payment Date”) or upon the occurrence of an event of default under the provisions of this Contract.
SECTION 3: COLLATERAL
The Borrower's obligations under this Contract are secured by collateral identified and defined in Exhibit A, attached hereto (the "Collateral").
SECTION 4: DEFAULT
If the Borrower fails to satisfy any terms of this contract, the Lender may declare a default and demand immediate payment of all outstanding balances of the Loan.
SECTION 5: REPRESENTATIONS AND WARRANTIES
The Borrower and Lender hereby represent and warrant that they have full power and authority to enter into this Loan Contract.
SECTION 6: COMPLIANCE WITH LAW
All parties shall conduct all activities under this Contract in compliance with and will ensure that its employees and agents' activities comply with all applicable laws, regulations, and governmental orders.
SECTION 7: MISCELLANEOUS
This Loan Contract shall be binding upon and shall inure to the benefit of each party’s successors and lawful assigns.
Executed as of the date first above written.
[Your Company Name]
By: [Your Name]
Lender
[Date Signed]
[Borrower's Name]
Borrower
[Date Signed]
