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Directors Loan Agreement
"I need a Directors Loan Agreement for an unsecured loan of INR 50 lakhs to our Managing Director, with monthly repayments over 24 months starting March 2025, including an early repayment option without penalty."
1. Parties: Identification of the company and the director entering into the loan agreement
2. Background: Context of the loan, including board approval reference and purpose of the loan
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Amount and Purpose: Specification of the loan amount and its intended use
5. Interest Rate: Details of applicable interest rate, calculation method, and payment frequency
6. Repayment Terms: Schedule and method of loan repayment, including installment details if applicable
7. Representations and Warranties: Standard declarations by both parties regarding their capacity and authority
8. Covenants: Ongoing obligations of the director during the loan term
9. Events of Default: Circumstances constituting default and consequences thereof
10. Termination: Conditions and process for early termination of the agreement
11. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes
12. Notices: Process and addresses for formal communications between parties
1. Security: Details of any security/collateral provided against the loan
2. Guarantee: Terms of any personal or third-party guarantee for the loan
3. Early Repayment: Provisions for early loan repayment and any associated penalties or benefits
4. Insurance: Requirements for insurance coverage of any secured assets
5. Assignment: Rights and restrictions regarding assignment of the agreement
6. Tax Provisions: Specific tax-related provisions and responsibilities
7. Force Majeure: Provisions for unforeseen circumstances affecting loan repayment
1. Repayment Schedule: Detailed schedule of repayment dates and amounts
2. Board Resolution: Copy of board resolution approving the loan
3. Security Details: Detailed description of any security/collateral provided
4. Compliance Certificate: Template for periodic compliance certification
5. Related Party Disclosure: Disclosure of director's relationship and other directorships
6. Asset Schedule: List and details of any assets provided as security
Authors
Board
Board Resolution
Business Day
Company
Companies Act
Default Interest
Director
Drawdown Date
Effective Date
Event of Default
Financial Year
Interest Period
Interest Rate
Law
Lender
Loan
Loan Amount
Material Adverse Effect
Parties
Purpose
Repayment Date
Repayment Schedule
Security
Security Documents
Tax
Term
Working Day
Interest Rate
Repayment Terms
Security
Default
Representations and Warranties
Covenants
Conditions Precedent
Purpose of Loan
Payment Mechanics
Tax Provisions
Early Repayment
Events of Default
Remedies
Assignment
Notices
Confidentiality
Force Majeure
Governing Law
Jurisdiction
Dispute Resolution
Amendment
Severability
Entire Agreement
Further Assurance
Costs and Expenses
Indemnification
Term and Termination
Banking and Financial Services
Manufacturing
Information Technology
Real Estate
Healthcare
Retail
Infrastructure
Education
Professional Services
Media and Entertainment
Telecommunications
Pharmaceuticals
Legal
Finance
Compliance
Corporate Secretarial
Risk Management
Treasury
Corporate Governance
Board Secretariat
Internal Audit
Director
Managing Director
Company Secretary
Chief Financial Officer
Legal Counsel
Compliance Officer
Board Member
Financial Controller
Corporate Governance Officer
Risk Management Officer
Treasury Manager
Company Director
Executive Director
Independent Director
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Directors Loan Agreement
An Indian law-compliant agreement governing loan arrangements between a company and its director, including terms, conditions, and statutory compliance requirements.
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