Loan Agreement Form - UK

4.1 The Borrower on giving the Lender three months written notice may
repay the entire Loan - the principal amount and all interest owing up to
the date of actual repayment.
4.2 Alternatively the Borrower may give the Lender written notice of
immediate repayment of the entire Loan - the principal amount and all
interest owing up to the date of actual repayment. The Borrower will also
pay an additional three months interest in lieu of notice to the Lender.
5. Loan Purpose
5.1 The Loan shall be used exclusively for following specified purpose:
[insert details of what the loan will be used for]
5.2 The Borrower shall not use the Loan for any other purpose without the
prior written approval of the Lender.
6. Documentation
6.1 The Loan amount will only be made available to the Borrower once
the Lender receives and approves copies of the following documentation:
If the Borrower is a company:
6.1.1 A copy of the resolution made by the directors of the company
agreeing and approving that the company borrows the sum of the loan
from the Lender. The resolution must also be signed and approved by the
company secretary.
6.1.2 A copy of the Memorandum and Articles of Association of the
Borrower, which must be certified by the company secretary as complete
and up to date.
If the Borrower is a partnership:
6.1.3 All of the partners within the partnership must sign this Loan
Agreement.
7. Loan Interest
The interest on the principal amount of the Loan outstanding shall accrue
daily at the rate of [insert amount in words] per cent, [ ]% per annum
above the base rate of [insert bank name] Bank plc as varied from time to
time.
8. Default Interest
9. Loan Payments Application
10. Representations & Warranties
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Loan Agreement Form - UK DOC

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