The Simple Interest Loan Agreement is designed for use in Ireland where parties wish to establish a clear and straightforward lending arrangement using simple rather than compound interest calculations. This document is particularly suitable for business loans, inter-company lending, or private lending arrangements where parties prefer a straightforward interest calculation method. The agreement includes all essential elements required under Irish law, including compliance with the Consumer Credit Act 1995 and Central Bank regulations. It provides a comprehensive framework for the loan relationship, covering everything from initial disbursement to final repayment, while maintaining flexibility to accommodate various loan amounts and terms. The document is structured to ensure enforceability under Irish law while remaining accessible and understandable to both lenders and borrowers.
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1. Parties: Identification of the Lender and Borrower with full legal names and addresses
2. Background: Context of the loan agreement and brief description of the parties' intentions
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Amount and Purpose: Specification of the principal amount and intended use of the loan
5. Interest Rate: Clear statement of the simple interest rate and calculation method
6. Repayment Terms: Details of repayment schedule, payment amounts, and payment methods
7. Representations and Warranties: Statements of fact and assurances given by the Borrower
8. Events of Default: Circumstances that constitute default and consequences thereof
9. Rights and Obligations: Key responsibilities and rights of both parties
10. Notices: How formal communications between parties should be made
11. Governing Law: Confirmation of Irish law as governing law and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Security: Required when the loan is secured against specific assets
2. Guarantor Provisions: Include when a guarantor is providing additional security for the loan
3. Early Repayment: Terms for early loan repayment if permitted
4. Insurance Requirements: Include when specific insurance coverage is required from the Borrower
5. Assignment and Transfer: Include if either party may assign their rights under the agreement
6. Data Protection: Required for loans to individuals or sole traders under GDPR
7. Joint and Several Liability: Required when there are multiple borrowers
8. Costs and Expenses: Include when borrower is to bear specific costs related to the loan
1. Repayment Schedule: Detailed breakdown of payment dates and amounts
2. Condition Precedent Documents: List of documents required before loan drawdown
3. Form of Drawdown Notice: Standard form for requesting loan disbursement
4. Security Details: Detailed description of any security being provided
5. Fee Schedule: Breakdown of any applicable fees and charges
6. Standard Form Notices: Templates for various notices required under the agreement
Relevant legal definitions
Agreement
Applicable Law
APR
Borrower
Business Day
Condition Precedent
Default Interest Rate
Default Notice
Drawdown Date
Drawdown Notice
Due Date
Early Repayment
Event of Default
Final Repayment Date
Financial Indebtedness
Governing Law
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Loan Amount
Material Adverse Effect
Notices
Outstanding Amount
Parties
Payment Account
Principal
Repayment Date
Repayment Schedule
Security
Security Documents
Simple Interest
Tax
Term
Working Day
Applicable Law
APR
Borrower
Business Day
Condition Precedent
Default Interest Rate
Default Notice
Drawdown Date
Drawdown Notice
Due Date
Early Repayment
Event of Default
Final Repayment Date
Financial Indebtedness
Governing Law
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Loan Amount
Material Adverse Effect
Notices
Outstanding Amount
Parties
Payment Account
Principal
Repayment Date
Repayment Schedule
Security
Security Documents
Simple Interest
Tax
Term
Working Day
Clauses
Loan Amount
Interest Rate
Repayment Terms
Security
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Remedies
Prepayment
Payment Mechanics
Tax Gross-up
Costs and Expenses
Indemnities
Set-off
Assignment and Transfer
Notices
Amendments and Waivers
Severability
Counterparts
Confidentiality
Data Protection
Force Majeure
Governing Law
Jurisdiction
Dispute Resolution
Entire Agreement
Third Party Rights
Interest Rate
Repayment Terms
Security
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Remedies
Prepayment
Payment Mechanics
Tax Gross-up
Costs and Expenses
Indemnities
Set-off
Assignment and Transfer
Notices
Amendments and Waivers
Severability
Counterparts
Confidentiality
Data Protection
Force Majeure
Governing Law
Jurisdiction
Dispute Resolution
Entire Agreement
Third Party Rights
Relevant Industries
Financial Services
Banking
Corporate Finance
Small Business
Real Estate
Manufacturing
Retail
Professional Services
Agriculture
Technology
Healthcare
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Credit Control
Commercial
Corporate Banking
Business Development
Company Secretariat
Relevant Roles
Chief Financial Officer
Finance Manager
Financial Controller
Credit Manager
Legal Counsel
Compliance Officer
Risk Manager
Treasury Manager
Loan Officer
Commercial Director
Business Development Manager
Company Secretary
Account Manager
Financial Analyst
Corporate Lawyer
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