The Money Contract is a fundamental legal instrument used in German financial transactions to formalize lending arrangements between parties. It is essential for various financing purposes, from personal loans to business financing, and must comply with German legal requirements, particularly the German Civil Code (BGB) §§ 488-490 governing loan agreements. This document is crucial when establishing legally binding terms for monetary lending, including specific provisions for interest rates, repayment schedules, and security arrangements. It's particularly relevant in the German market where strict banking regulations and consumer protection laws must be observed. The agreement can be used for both consumer and commercial lending, with additional provisions required for consumer loans under German law. The document typically includes comprehensive terms addressing disbursement conditions, repayment obligations, default scenarios, and enforcement mechanisms.
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1. Parties: Identification and details of the lender and borrower, including full legal names, addresses, and registration details if applicable
2. Background: Context of the loan agreement and the parties' intention to enter into the lending arrangement
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Amount and Purpose: Specification of the loan amount, currency, and intended purpose of the loan
5. Interest Rate: Details of applicable interest rate(s), calculation method, and payment frequency
6. Repayment Terms: Schedule and method of repayment, including installment amounts and dates
7. Disbursement: Conditions and procedure for disbursement of the loan amount
8. Representations and Warranties: Statements of fact and assurances made by the borrower
9. Borrower's Obligations: Ongoing obligations of the borrower during the loan term
10. Events of Default: Circumstances constituting default and consequences thereof
11. Termination: Conditions and process for early termination or acceleration of the loan
12. Notices: Method and addresses for formal communications between parties
13. Governing Law and Jurisdiction: Confirmation of German law as governing law and jurisdiction for disputes
1. Security: Details of any collateral or security provided for the loan, used when the loan is secured
2. Guarantees: Terms of any third-party guarantees, included when there are guarantors
3. Insurance Requirements: Mandatory insurance coverage for secured assets, included for secured loans
4. Assignment and Transfer: Rights and restrictions regarding transfer of rights under the agreement, included for transferable loans
5. Tax Provisions: Allocation of tax obligations, included when tax implications are significant
6. Costs and Expenses: Allocation of transaction costs and ongoing expenses, included for complex transactions
7. Financial Covenants: Financial maintenance requirements, included for business loans
8. Prepayment Terms: Conditions and penalties for early repayment, included when prepayment is regulated
1. Repayment Schedule: Detailed amortization table showing payment dates, amounts, and interest calculations
2. Security Details: Detailed description of any collateral or security assets
3. Conditions Precedent: List of documents and conditions required before loan disbursement
4. Form of Drawdown Notice: Template for requesting disbursement of loan funds
5. KYC Documentation: Required identity verification documents as per German Money Laundering Act
6. Fee Schedule: Detailed breakdown of all applicable fees and charges
Relevant legal definitions
Agreement
Applicable Law
Banking Day
Borrower
Business Day
Collateral
Commitment
Default Interest
Drawdown
Drawdown Date
Drawdown Notice
Early Repayment
Effective Annual Interest Rate
Event of Default
Facility
Final Repayment Date
Financial Indebtedness
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Loan Amount
Material Adverse Effect
Maturity Date
Outstanding Amount
Party/Parties
Permitted Purpose
Prepayment
Principal Amount
Repayment Date
Repayment Schedule
Security
Security Documents
Tax
Term
Transaction Documents
Default
Potential Default
Interest Calculation Period
Secured Obligations
Required Authorizations
Signing Date
Applicable Law
Banking Day
Borrower
Business Day
Collateral
Commitment
Default Interest
Drawdown
Drawdown Date
Drawdown Notice
Early Repayment
Effective Annual Interest Rate
Event of Default
Facility
Final Repayment Date
Financial Indebtedness
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Loan Amount
Material Adverse Effect
Maturity Date
Outstanding Amount
Party/Parties
Permitted Purpose
Prepayment
Principal Amount
Repayment Date
Repayment Schedule
Security
Security Documents
Tax
Term
Transaction Documents
Default
Potential Default
Interest Calculation Period
Secured Obligations
Required Authorizations
Signing Date
Clauses
Loan Amount
Interest Rate
Repayment Terms
Security
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Acceleration
Payment Provisions
Tax Gross-up
Costs and Expenses
Indemnification
Assignment and Transfer
Confidentiality
Force Majeure
Notice Requirements
Amendments and Waivers
Severability
Set-off Rights
Guarantees
Information Undertakings
Dispute Resolution
Term and Termination
Governing Law
Jurisdiction
Entire Agreement
Data Protection
Anti-Money Laundering
Consumer Protection
Insurance Requirements
Interest Rate
Repayment Terms
Security
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Acceleration
Payment Provisions
Tax Gross-up
Costs and Expenses
Indemnification
Assignment and Transfer
Confidentiality
Force Majeure
Notice Requirements
Amendments and Waivers
Severability
Set-off Rights
Guarantees
Information Undertakings
Dispute Resolution
Term and Termination
Governing Law
Jurisdiction
Entire Agreement
Data Protection
Anti-Money Laundering
Consumer Protection
Insurance Requirements
Relevant Industries
Banking & Financial Services
Real Estate
Manufacturing
Retail
Technology
Healthcare
Construction
Agriculture
Transportation
Education
Professional Services
Small Business & Entrepreneurship
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Credit Administration
Corporate Banking
Retail Banking
Operations
Documentation
Business Development
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Compliance Officer
Credit Risk Manager
Loan Officer
Banking Relationship Manager
Corporate Finance Manager
Financial Controller
Legal Director
Contracts Manager
Business Development Manager
Account Manager
Risk Assessment Officer
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