LOAN AGREEMENT made on 08 May 2024

Between

PARTY_1_NAME of PARTY_1_ADDRESS_SINGLE_LINE (the Borrower); and

PARTY_2_NAME of PARTY_2_ADDRESS_SINGLE_LINE (the Lender).

It is agreed:

1. Interpretation 

Definitions:

1.1 In this agreement:

Event of Default has the meaning given to it in clause 6.

Loan means the amount stated in clause 2.

Loss includes claim, liability, damage costs and expense.

Parties means the Borrower and the Lender and Party refers to either of them.

Other Amounts Payable means all amounts other than the Principal Outstanding payable by the Borrower to the Lender under this agreement.

Principal Outstanding means the amount of the Loan which has been advanced from time to time and not repaid.

Repayment Date means the date or dates determined in accordance with clause 5. 

Taxes means taxes, deductions, charges, withholdings and duties, (including stamp and transaction duties), together with any related interest, penalties, fines and expenses in connection with them. 

Interpretation rules

1.2 In this agreement, unless the contrary intention appears:

(a) the singular includes the plural and the opposite and any gender includes the other genders;

(b) ‘person’ includes a firm, a body corporate, an unincorporated association or an authority;

(c) a reference to:

• a person includes that person’s executors, administrators, successors and assigns;

.

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